FBN Holdings has appointed Adebowale Oyedeji as the new group managing director, effective from November 13.
The corporation announced this significant leadership change on Friday, marking a new chapter for the financial services group.
Oyedeji, currently serving as the chief executive officer of Nova Bank, will succeed Nnamdi Okonkwo, who has steered the banking group since January 2022.
However, this appointment is not yet set in stone, as it requires the green light from the Central Bank of Nigeria and subsequent ratification by FBN Holdings’ shareholders at the company’s annual general meeting.
FBN Holdings, in its official statement, highlighted Oyedeji’s impressive academic and professional credentials.
“Wale holds a Bachelor of Science in Agricultural Economics from the University of Ibadan and a Master of Science in Financial Economics from the University of London,” the statement read.
It further noted, “He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an alumnus of the Advanced Management Program of Harvard Business School.”
Oyedeji’s professional journey began at Ernst & Young, where he cut his teeth in accountancy.
His banking career, spanning over three decades, is a testament to his versatility and expertise across various banking sectors, including treasury, corporate banking, general management, and commercial banking.
His leadership roles have been equally impressive. From 2008 to 2011, Oyedeji held the position of managing director at Guaranty Trust Bank (GTB) UK. In 2011, he joined the board of directors of GTB, where he served as executive director of the corporate banking group, playing a crucial role in the bank’s growth and transformation.
Oyedeji’s experience extends beyond a single institution.
He previously served as an independent non-executive director at Stanbic IBTC Bank, the Nigerian arm of South Africa’s Standard Bank.
His most recent achievement has been at Nova Bank, where, as CEO, he spearheaded the bank’s transformation from a merchant bank to a commercial bank, including a successful venture into retail banking.
FBN Holdings has expressed confidence in Oyedeji’s ability to lead the executive teams at both the holding company and its operating entities. The focus will be on implementing the group’s ambitious five-year strategic plan.
Chairman Femi Otedola voiced his enthusiasm about the appointment, stating, “The board is pleased to welcome Wale Oyedeji to the Holdco and looking forward to him building on the solid foundation of 130-year-old franchise and sustaining its undisputed leadership position.”
