Fidelity Bank Plc has appointed Mr. Nnamdi Okonkwo, Chief Executive Officer designate, to take over from Mr. Reginald Ihejiahi, who is expected to retire from the bank, February 2014.
According to a statement by the bank, Okonkwo, who is currently Executive Director in charge of South Directorate of the bank, holds a Bachelor of Science degree in Agric Economics from the University of Benin and an MBA in Banking & Finance from EnuguStateUniversity.
The bank also said he is a graduate of the Advanced Management Programme of INSEAD Business School, Fontainebleau, France, adding that he has attended various business and management training locally and overseas, including HarvardBusinessSchool, Oxford.
“From being in the top 30 banks in Nigeria with N20 billion in deposits, N30 billion in total assets and less than 150,000 in customers, he orchestrated the consolidation of the legacy Fidelity Bank with the former FSB International Bank Plc and Manny Bank Plc to form the currently enlarged Fidelity Bank Plc.
“The bank now ranks among the top 10 banks in Nigeria with over 1.0 billion US Dollars in equity, over N1 trillion in total assets and 2.3 million customers, represented in 220 branches compared to 17 branches at take on, with presence in all the state capitals and major commercial centres in Nigeria.
“Fidelity is today the 6th largest bank in Nigeria, by shareholders’ funds, and one of the few companies that have consistently paid dividends, without fail, in the last eight years. Mr. Ihejiahi and his team also led some of the landmark international financial transactions in the industry including the issue of Global Deposit Receipts (GDR) in 2007 and the $300m debut issue of internationally traded Eurobond in 2013.”