FCMB
Group Plc has announced the re-organisation of its leadership at the
Group level, as well as its flagship company First City Monument Bank
Limited (FCMB Limited). Effective March 20th, 2017, Ladi Balogun, having
served as Group Managing Director of the commercial banking arm, FCMB
Limited for 10 years, will be stepping down in this capacity.
He will assume the role of Group
Chief Executive of the holding company, FCMB Group Plc.. The holding
company comprises FCMB Limited, FCMB Capital Markets, CSL Stockbrokers
and CSL Trustees.
Under Ladi Balogun’s leadership, FCMB Limited has undergone a successful transformation from a merchant bank to a top 10 commercial bank in Nigeria across key metrics. During this period the bank has emerged as a leader in consumer finance, agricultural banking and electronic banking. The bank’s franchise has grown to 4 million customers, 220 branches and a successful banking subsidiary in the United Kingdom.
Under Ladi Balogun’s leadership, FCMB Limited has undergone a successful transformation from a merchant bank to a top 10 commercial bank in Nigeria across key metrics. During this period the bank has emerged as a leader in consumer finance, agricultural banking and electronic banking. The bank’s franchise has grown to 4 million customers, 220 branches and a successful banking subsidiary in the United Kingdom.
Mr Balogun will be succeeded as Managing Director of FCMB Limited by Adam Nuru,
who is currently the Executive Director in charge of Business Development for
the bank. He previously served as Regional Director, in charge of Abuja and
Northern Nigeria, where he was responsible for growing the bank’s Northern
franchise to become the largest and most profitable region of the bank. Adam
Nuru has 28 years of banking experience, with 7 years spent with FCMB. He
is a graduate of Ahmadu Bello University, Zaria, where he studied Business
Administration, and has attended management programmes at leading international
educational institutions.
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