One of Nigeria’s oldest bank has announced Senator Udo Udoma as their new Chairman. Union Bank announced the appointment today on their website following the notification last friday on the website of the NSE that they had appointed three new on-executive directors.
Senator Udo Udoma is a founding partner of the law firm Udo Udoma and Bello Osagie and holds board appointment in several other Nigerian companies. He is a two time Senator of the Federal Republic of Nigeria. Other members appointed to the board are Oyikan Adewale who was once Managing Director, Chief Operating Officer Africa for Renaissance Group between April 2007 and October 2009. She moved to Oceanic Bank Int’l Nigeria Plc as was appointed Executive Director, Chief Financial Officer/Chief Risk Officer by CBN. Also appointed is Mr. James Macarthur who from June 2008 to date has been working as Head of Investments at Richard Chandler Corporation, Singapore.
Union Bank has undergone several restructuring following the acquisition by AMCON and eventual acquisition by a team lead by the private equity firm Capital Alliance.