Diamond Bank Plc has announced the appointment of Mr Idris Mohammed as a Member of its Board of Directors. He will be serving in the capacity of a Non-Executive Director.
In a statement issued to the Nigerian Stock Exchange, Diamond Bank said Mr Mohammed’s appointment followed the granting of approval by the Central Bank of Nigeria on August 13, 2018.
Here’s a look at Mr Mohammed’s background
With over 27-years of professional experience under his belt, Mr Mohammed’s career cuts across private equity investing, corporate finance and banking. He has worked in some of the world’s biggest corporations, including Goldman Sachs.
Mr Mohammed holds a degree in Industrial Engineering from Lehigh University in the USA, as well as an MBA (Finance & Strategic Management) from the Wharton School of the University of Pennsylvania, USA.
He began his career at Goldman Sachs where he later served as a Vice President of the company’s Special Situation Group.
In 2007, Mohammed began heading the Nigerian Office of Development Partners International during which time he raised funds and actualised major acquisitions in major African markets such as Botswana, Egypt, and of course, Nigeria.
In 2010, he got appointed as a Non-Executive Director at Letshego Holdings Limited, a position he held until January 2018. He also served as a Director at AXA Mansard Insurance Plc between 2011 and 2014.
He currently serves on the Board of Directors of Assur Africa Holdings Limited and Food Concept Plc in the capacity of a Director.
In 2017, Mr Mohammed was appointed the Managing Director of Carlyle Sub-Saharan Fund. He still holds that position till date; overseeing operations in West and North Africa.
Finally, Mr Mohammed has served as a Vice President at WPA Inc.
As part of his new role as a Non-Executive Director at Diamond Bank Plc, Mohammed will be involved in the company’s policy-making processes and other related planning exercises.
As we reported, Diamond Bank Plc recently released its 2018 half year report, reporting gross earnings of ₦98.5 billion as against ₦97.9 billion in the comparable period of 2017. Also, the company’s profit after tax for the half year ended 30th June 2018 was ₦1.80 billion, a disappointing 78% decrease compared to ₦8.02 billion recorded in H1 2017.
The company’s shares closed at N1.10 during today’s NSE trading session.