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Royal Exchange Plc has appointed Olawale Omotunde Banmore as its Group Managing Director and Mr John Chukwudi Iwuajoku as Group Executive Director (operations).

The company made this announcement in a notification signed by the Company Secretary, Sheila Ezeuko and sent to the Nigerian Stock Exchange (NSE).

Appointees’ profiles: Olawale Omotunde Banmore has over 27 years of experience in the insurance industry. The graduate of Sociology from the University of Ibadan, holds a Masters degree in Managerial Psychology from the same institution. He is an associate member of the Chartered Insurance Institute of Nigeria (CIIN); a member of Nigeria and South Africa Chambers of Commerce and an alumnus of the Lagos Business School.

Banmore first joined the company in 2003 and has since acted in various managerial capacities within the company. He was the managing director of Royal Exchange Prudential life plc, a subsidiary of Royal Exchange Plc from 2011 up until 2019.

Prior to this appointment, he was appointed by the board of directors of the company on October 17, 2018, to oversee the affairs of the Royal Exchange Group pending the appointment of a substantive Group Managing Director.

[READ MORE: Interlinked Technologies Plc appoints new Director]

John Chukwudi Iwuajoku is a finance expert with over 23 years of professional experience in the financial services industry. He joined the company in 2018 as the chief operating officer.

Before joining the company, he was the Vice President at First City Monument Bank, Nigeria where he held several top positions which included head branch coordination, head service management, head shared services, head card and electronic banking.

Iwuajoku holds a Bachelor’s degree in Economics from the Obafemi Awolowo University and Masters in Business Administration from the University of Calabar. He is an Honorary Associate of the Chartered Institute of Bankers of Nigeria; Fellow, Institute of Information Management, Fellow, Chartered Economist of Nigeria and Member, Nigeria Institute of Management.

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