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Appointments

Fidelity Bank announces retirement of Deputy Managing Director, appoints new Executive Director

Fidelity Bank Plc has announced the retirement of Mohammed Balarabe as the company’s Deputy Managing Director (DMD).

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Fidelity Bank announces retirement of Deputy Managing Director 

Fidelity Bank Plc has announced the retirement of Mohammed Balarabe as the company’s Deputy Managing Director (DMD). In a statement by Fidelity Bank’s Company Secretary, Ezinwa Unuigboje, the lender disclosed that Balarabe’s retirement would take effect from Tuesday, December 31, 2019.

The Details: This notification is in line with the Bank’s Human Capital Policy and predicated on the attainment of retirement age.

[READ MORE: Onoro appointed as acting MD, PAL Pensions]

The lender also stated that Balarabe’s retirement was approved by the Board of Directors while the Central Bank of Nigeria was also notified of the change.

In addition to this notification, the bank disclosed that Hassan Imam has been appointed as the new Executive Director for the North Directorate. The appointment would take effect from Wednesday, January 1, 2020.

Mohammed Balarabe’s Profile: Mohammed Balarabe was appointed to the Board of Fidelity Bank on April 1, 2012, and as Deputy Managing Director (DMD) on May 2, 2016.

He currently serves as the Deputy Managing Director and is also in charge of Commercial and Consumer Banking (North), with responsibilities covering the management of Fidelity Bank’s locations in Northern Nigeria and the Federal Capital Territory, Abuja.

He is well experienced across various aspects of banking spanning more than 25 years, Balarabe holds a Bachelor’s degree in Accounting and Finance from Nottingham Trent University, United Kingdom, and an M.Sc. in Finance from the University of Lagos. He is a chartered stockbroker and dealing member of the Nigerian Stock Exchange.

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Mohammed Balarabe was an Executive Director with Oceanic Bank International Plc and Ecobank Nigeria Limited prior to joining Fidelity Bank Plc. He was also a General Manager in United Bank for Africa (UBA) Plc and had been the General Manager & Chief Executive of Newdevco Finance Services Company Limited.

[READ ALSO: Banjo Adegbohungbe appointed Deputy Managing Director, Coronation Merchant Bank]

Hassan Imam’s Profile: Hassan Imam holds a Bachelor’s Degree in Economics, two regular Masters’ Degrees, and an MBA. He has attended a number of executive and banking-specific programmes in leading educational and professional institutions such as Harvard, Stanford, and Wharton.

He has 25 years of comprehensive experience across various areas of Banking including; Commercial Banking, Consumer Banking, SMEs, Institutional Banking, Trade Finance, Operations, Treasury and Risk Management. He served in roles pertaining to Fidelity Bank‘s Commercial, SME, Consumer and Public Sector business in the North Directorate comprising 18 states and Abuja.

He currently serves as the Executive Director, Regional Head Abuja 1 Bank.

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Reincarnated as a lover of stocks, Angel investors, seed funds, and anything aligned to tech or startups raising money, Joseph's work at Nairametrics involves following the money to wherever it leads. Before joining Nairametrics, he won an investigative journalism fellowship with ICIR, appeared in several national dallies, with hard-hitting opinions, features and investigative pieces. He has also engaged in content marketing and copywriting for a top e-commerce firm in Nigeria.

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Appointments

Greenwich Merchant Bank appoints Bayo Rotimi as MD/CEO

Bayo Rotimi has been appointed the new MD/CEO of Greenwich Merchant Bank.

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Greenwich Merchant Bank has announced the appointment of Mr Bayo Rotimi as its new Managing Director/ Chief Executive Officer.

This is according to a notification made available on the bank’s social media handle, seen by Nairametrics.

As part of his responsibilities, Mr Rotimi is expected to provide leadership and direction to the management team and take charge in optimizing the company’s overall strategic objectives and operational performance, in a bid to deliver optimal value for stakeholders, without compromising quality and standards.

About Bayo Rotimi

Mr Rotimi is an experienced investment banking professional with over 27 years’ experience. He worked for various financial institutions such as Lead Merchant Bank and FCMB Capital Markets, where he rose through the echelons to become the CEO of the latter in 2008. Prior to his recent appointment, he was the chairman of the investment committee of ARM’s Discovery, Aggressive, Growth, Ethical, Money Markets, Fixed income and Eurobond funds with over N110 billion under management.

What they are saying

Commenting on the recent development, Chairman of Greenwich Merchant Bank, Kayode Falowo said: “Bayo’s track record and pedigree speaks for itself and offers a reassuring nexus between the corporate ideals that Greenwich is reputed for and proactive dynamism required to stay on the cutting-edge of innovation, product development and stakeholder satisfaction.”

What you should know

  • Recall that Greenwich Trust Limited was officially renamed Greenwich Merchant Bank in September 2020, after obtaining regulatory approval from CBN to operate as a Merchant Bank.
  • Greenwich Merchant Bank Limited was incorporated on the 25th of February, 1992 and subsequently commenced operations in June 1994.

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Appointments

Africa Prudential announces appointment of Zubaida Rasheed as Director

Zubaida Rasheed has been appointed as an Independent Non-Executive Director by Africa Prudential Plc.

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African Prudential could be worth more than N4.55

The Board of Africa Prudential Plc has ratified the appointment of Mrs. Zubaida Mahey Rasheed as an Independent Non-Executive Director, effective February 24, 2021, subject to regulatory approval from the Securities and Exchange Commission.

This is according to a notification signed by the Company’s secretary, Joseph Jibunoh, and made available to the Nigerian Stock Exchange.

Given her profile and wealth of experience, the Board strongly believes that the appointment will strengthen the company by consolidating its digital transformation drive and ensuring its smooth transition from its core registrar business to providing digital solutions and technological services.

About Zubaida Mahey Rasheed 

Mrs. Zubaida is a distinguished technocrat with over forty years’ experience in the public and private sectors. A sizeable number of the aforementioned years were spent in NITEL Plc, where she served for 23 years, rising to the position of Executive Director.

Mrs. Zubaida is currently the Deputy Coordinator of Technical Working Group (TWG) for the preparation of Medium-Term National Development Plan (MTNDP) 2021-2025 & Nigeria Agenda 2050 (Business Environment, Trade, Competitiveness, and Product Space Mapping).

She is an alumna of Ahmadu Bello University (ABU), having obtained a BSC degree in Economics in the aforementioned institution. She holds professional membership in the Nigerian Institute of Management and National Institute of Marketing, Nigeria.

What you should know

  • Africa Prudential Plc had earlier declared a dividend of 50 kobo each, totaling N1 billion for its shareholders.
  • Africa Prudential Plc formerly known as UBA Registrars Ltd was incorporated as a private limited liability company on 23rd March 2006 to take over the registrar services formally operated as a department by its former parent – UBA Global Market Limited.
  • The company was listed on the Nigerian Stock Exchange on the 17th of January, 2013. It currently manages over 80 corporate clients in both the public and private sectors.

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