The banking industry is one of the most critical sectors of every economy all over the world. And as such, most of those who have invested in this career and emerged as Chief Executive Officers can only be described as top brains because of their expertise in investment banking and funds management.
Note that it takes a lot of hard work to build a profile as good as that of already successful investment bankers, especially having achieved the coveted level of Managing Director/CEO.
The Nigerian banking industry, just like other countries boast of world class brains, but Top News Magazines painstakingly select a list of six top CEOs in the Nigerian banking industry from the long list of commercial banks’ chief executives.
These men have achieved a lot of feats, and are extraordinary in their career. In no particular order, we bring to you our list of six top bank chief executives…
Dr. Adesola Kazeem Adeduntan (FirstBank Plc)
Dr. Adesola Kazeem Adeduntan (FCA) is the Managing Director/Chief Executive Officer of First Bank of Nigeria Plc.
Known for his brilliance, Adeduntan was a Director and the pioneer Chief Financial Officer/Business Manager of Africa Finance Corporation. He has served as a Senior Vice-President & Chief Financial Officer at Citibank Nigeria Limited, a Senior Manager in the Financial Services Group of KPMG Professional Services and a Manager at Arthur Andersen Nigeria.
Over the course of his sterling career, he has garnered diverse expertise in Treasury and Financial Management, Risk Management, Accounting and Internal Controls, Corporate Governance, Corporate Strategy Development and Implementation, Corporate Finance, Business Performance Management, Financial Advisory, Investors, Regulators and Rating Agencies Relationship Management, Deployment and Management of Information Technology, and Compliance.
Unknown to many, he obtained a Doctor of Veterinary Medicine (DVM) degree at the University of Ibadan. He also holds a Master’s Degree in Business Administration (MBA) from Cranfield University Business School, United Kingdom which he attended as a distinguished “British Chevening Scholar.” In addition to his MBA, he has attended executive/leadership programmes at Harvard, Cambridge, Oxford and INSEAD.
His coming on board as the CEO of First Bank has added to the bank’s meteoric rise as a dominant force in the industry. FirstBank was named the most valuable banking brand in Nigeria in the Top 500 Global Banking Brands of the Financial Times, London 2017. The bank under Adeduntan’s leadership also accounts for 37percent of Nigeria’s ATM transactions in the same year.
Mr. Nnamdi Okonkwo (Fidelity Bank)
With over 25 years experience in various areas of banking, Mr. Nnamdi Okonkwo remains the bank’s talisman of a brilliant performance. He took over as Managing Director/CEO in 2014 and ever since, there has been a considerable increase in the bank’s balance sheet and the brand has risen beyond expectation amongst its competitors.
Under Okonkwo, the bank in 2017 recorded the largest new Eurobond issue which was twice oversubscribed. The transaction achieved a wide market distribution with over 100 investors from the United Kingdom, United States, Asia, Continental Europe and Africa.
Within the last few years, the bank also recorded 93 percent growth rate in savings deposits alone.
Okonkwo holds B.Sc in Agricultural Economics from the University of Benin and an MBA, Banking and Finance from Enugu State University. He is also a graduate of the Advanced Management Programme (AMP) of INSEAD and has also attended other senior-level programmes at world renowned institutions. Until his appointment as the MD/CEO he was the Executive Director in charge of South Directorate of the bank. Before joining Fidelity, Okonkwo was the Head of the Corporate Banking Directorate in (UBA) and had at various times been the MD&CEO of UBA, Ghana and the Regional Chief Executive Officer of all UBA Subsidiaries in Ghana, Liberia and Sierra Leone.
Mr. Segun Agbaje (GTBank)
An alumnus of the Harvard Business School and holds a Bachelor of Science and a Masters in Business Administration from the University of San Francisco, USA, Mr. Agbaje was appointed Managing Director/Chief Executive Officer on June 22, 2011.
Prior to joining Guaranty Trust Bank plc, he worked with Ernst & Young, San Francisco, USA. He subsequently joined Guaranty Trust Bank as a pioneer staff in 1991 and rose through the ranks to become an Executive Director in January 2000, and Deputy Managing Director in August 2002, in light of his diverse background and experience in almost all areas of the bank’s activities including commercial banking, investment banking, treasury, corporate planning and strategy, settlements and operations.
Agbaje has a deep understanding of the Nigerian business environment having initiated and led the execution of large, innovative and complex transactions in financial advisory, structured and project finance.
GTbank under Agbaje has also won several awards and recognitions both locally and internationally. Notable is the 2017 Bank of the Year, Nigeria at The Bankers’Award, London, United Kingdom.
And according to Brian Caplen, Editor of The Banker Magazine, he said GTbank has over the years maintained a reputation for delivering notable financial success hinged on world class corporate governance and excellence service delivery.
Herbert Wigwe (Access Bank)
Mr. Herbert Wigwe left Guaranty Trust as an Executive Director to co-lead Access Bank Plc in March 2002 as Deputy Managing Director. Later, he was appointed Group Managing Director/CEO effective January 1, 2014, and till date he has continued to add milestones to the financial institution he superintends.
Last year, the bank’s rating was raised from A+ to Aa by the foremost Nigerian rating agency, Augusto & Co., which reflects Access Bank’s strong financial profile, resilient profitability level, and solid capital position.
An astute banker, Wigwe started his professional career with Coopers and Lybrand Associates, an international firm of Chartered Accountants. He is an Alumnus of Harvard Business School Executive Management Programme. He holds a Masters degree in Banking and International Finance from the University College of North Wales; a Masters degree in Financial Economics from the University of London and a B.Sc. degree in Accounting from the University of Nigeria, Nsukka. He is also a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN). Mr Wigwe is the Chairman of The Access Bank (UK) Ltd and Interim Chairman of Nigerian Mortgage Refinance Company Plc.
Mr. Peter Amangbo (Zenith Bank)
Mr. Peter Amangbo is the Group Managing Director/CEO of the bank. He holds a B.Eng. Degree (Electrical and Electronics Engineering) from University of Benin and an MBA from the University of Warwick, Coventry in the United Kingdom. He is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA).
He has attended the Advanced Management Programme at INSEAD, France and Wharton Graduate School of Business, USA.
Prior to this appointment, Mr. Amangbo has been an Executive Director of the bank since 2005 and has over twenty four (24) years cognate banking experience all of which has been with Zenith Bank. He worked previously with PriceWaterHouse (now PriceWaterHouseCoopers) as a Senior Consultant in the Financial Services Group.
Amangbo’s management capability has earned the bank various recognitions. The bank was also named the Best Company in Sustainability Reporting in Africa for two consecutive times in 2016 and 2017, at the Sustainability Enterprise Responsibility Awards (SERAS).
Mr. Kennedy Uzoka (United Bank for Africa)
Mr. Kennedy Uzoka is the General Managing Director/ CEO of United Bank for Africa (UBA). Mr. Uzoka is a holder of BSc in Mechanical Engineering from the University of Benin, an MBA from the University of Lagos and an AMP from Harvard Business School.
With a lengthy career at the bank, of over two decades has seen him at the helm of a number of critical departments. Prior to his appointment as GMD/CEO he was the Deputy Managing Director and CEO of UBA Africa.
Having steered his bank to a vantage financial position successfully, he has also positioned the bank to earn awards such as The Banker of the Year Awards, 2016 also, The Asian Banker Technology Innovation Awards, 2017.
Described as a very keen adaptor of technology and modernity, Mr. Uzoka has supervised two strategic support functions in the bank: Information Technology and E-Banking. Most recently, Mr. Uzoka has spearheaded the Customer Focused revolution in the bank which has created a fully digital, 24/7 user friendly experience that aims to anticipate and fulfill our customer’s expectations.
Mr. Uzoka’s career commenced at Standard Trust Bank where prior to the merger he served as Regional Director South East and Chief Marketing Officer of the bank. His extensive experience within UBA has given him a birds’ eye view of the organization’s capabilities and he is committed to enhancing performance, delivery and processes to ensure that customers, large and small, investors and shareholders see UBA as their preferred financial institution. Prior to his role as CEO, UBA Africa he was Head of Strategy and Business Transformation, Head of Resources and supervised the bank’s businesses in New York and London.
