Appointments
ValuAlliance Asset Management appoints two new Directors
ValuAlliance Asset Management has announced the appointment of two persons into its Board as Directors.
ValuAlliance Asset Management, the fund manager of the ValuAlliance Value Fund, has announced the appointment of Messrs Obinnia Abajue and Kofi Kwakwa into its Board as Directors.
This is according to a disclosure sent to the Nigerian Stock Exchange and seen by Nairametrics. In line with statutory requirements, the appointments are subject to confirmation from the Securities and Exchange Commission (SEC) and approval by the shareholders at the company’s next Annual General Meeting (AGM).
According to the notice, Mr Obinnia Abajue was appointed as Independent Non-Executive Director while Mr Kofi Kwakwa was appointed as Non-Executive Director. The profile of the aforementioned experts is succinctly captured below;
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Mr Obinnia Abajue
Mr. Abajue has over two decades of experience in banking and financial services. He is the current Chief Executive Officer (CEO) of Hygeia HMO Limited, a position he has held since November 2016. He is an alumnus of the University of Lagos and Imperial College London, where he obtained a Bachelor’s degree in Actuarial Science and an MBA respectively. Mr Abajue is a fellow of numerous professional bodies like; The Chartered Institute of Management Accountants, UK; The Institute of Chartered Accountants of Nigeria; The Chartered Institute of Bankers of Nigeria and the Chartered Institute of Stockbrokers of Nigeria.
Kofi Kwakwa
Mr. Kwakwa is a Ghanaian and a former CEO of Sagevest Holdings, an investment holding company in Ghana. He has over 25 years of experience in investment banking and consulting, having worked in top firms like Standard Bank, McKinsey & Company among others. He is currently a director at African Capital Alliance Limited (ACA), having joined the Board since 2015. Mr. Kwakwa is an alumnus of Swarthmore College and Harvard Business School, both in the USA, where he obtained a B.A. in Mathematics/Economics and an MBA respectively.
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What they are saying
Commenting on the recent development, a part of the press release reads: ‘’The Board of Directors congratulates Mr. Abajue and Mr. Kwakwa on their appointment and is looking forward to tapping into their vast wealth of experience to further accelerate the achievement of its vision, to be the premier investment management fiduciary in the segments we serve.’’
What you should know
- ValuAlliance had earlier posted a Profit After Tax of N237.96 million in its last reported financial statements-Q3, 2020. The PAT figures indicated a surge by over 1,000% YoY.
- ValuAlliance Value Fund formerly known as “SIM Capital Alliance Value Fund”, is a closed-end collective investment scheme, registered and regulated by the Securities and Exchange Commission, whose units are listed on the main board of the Nigerian Stock Exchange (“NSE”).
Appointments
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Appointments
FSDH appoints FCMB Director, Bukola Smith as new Managing Director and CEO
FCMB appoints FCMB Executive Director, as new Managing Director and CEO, to replace Hamda Ambah.
Bukola Smith, the Executive Director, Business Development, in First City Monument Bank Limited has been appointed by FSDH Merchant Bank as the new Managing Director and Chief Executive Officer of the Lagos based financial institution.
This information was revealed in a recent post made by Smith, the new MD/CEO of the bank via her official LinkedIn account.
Her appointment will take full effect in mid-April, 2021, as she moves to take over from Hamda Ambah who will retire from the bank with effect from April 27th, 2021, after 28 years of service to the company, including four years and three months as the Managing Director of the Merchant Bank.
Smith is expected to take on the full responsibility of leading FSDH Merchant Bank to greater heights of global success, building on the impressive work Ambah has done in the last four years and three months as the Managing Director of the Merchant Bank.
What they are saying
Commenting on her appointment, Bukola Smith said:
“Super excited to announce my appointment as the new MD/CEO of FSDH Merchant Bank from mid-April, 2021. Thus, bringing an end to 14 beautiful and impactful years at FCMB.”
Special thanks go to all my friends and colleagues, who made my time at FCMB an amazing experience.
It is a privilege to take over from a Super Mentor, Hamda Ambah who has done a great job in steering the ship over the years.”
About Smith
Bukola Smith holds a Bachelor’s Degree in Economics from the University of Lagos, and also holds an MBA from Manchester Business School, University of Manchester, United Kingdom.
Smith was appointed Executive Director, Business Development at First City Monument Bank (FCMB) in 2017, and prior to this, she was the Regional Head, Lagos Region of the Bank.
She has occupied several key positions in FCMB as the Group Head Treasury and Financial Institutions; Divisional Head, Investment Banking and Financial Markets; Director Project and Structured Finance; and Divisional Head, Group Internal Audit, since she joined the bank in 2006.
As the Executive Director in charge of Business Development in FCMB, the bank’s Small and Micro business-focused team moved up to the first position in 2019, to emerge as the best SME supporter in the country – according to a KPMG Customer Service Report 2020.
