Coronation Merchant Bank has announced the appointment of two non-executive directors – Mr. Kayode Akindele and Mr. Olayinka Tiamiyu, following the approval of the Central Bank of Nigeria.
A statement by the Bank explained that the recent appointments are in line with its strategic approach to board composition, balancing deep institutional and industry knowledge with fresh perspectives on key areas of growth.
The new appointees are expected to further strengthen the bank’s board, following the retirement of Mr. Babatunde Dabiri and Mrs. Susan Iroche, who both completed their regulatory tenors earlier in the year.
Mr. Kayode Akindele, who joins the Coronation Merchant Bank Board as a non-executive director, is a top-level investment, finance, and capital market professional with over two decades of distinguished accomplishments.
He graduated with a BA Hons Degree in Philosophy, Politics, and Economics from the University of Oxford. His work experience spans PricewaterhouseCoopers (PwC), London; Lloyds Banking Group, London and UBA Global Markets (now United Capital), Lagos.
He brings to the bank’s board his experience as Co-Founder and Partner in TIA Capital, a pan-African-focused investment firm, that has successfully invested over $500m in Sub-Saharan Africa, for its clients.
Mr. Olayinka Tiamiyu, who was also appointed as an independent non-executive director, is an accomplished professional with a distinguished career of over 30 years in consulting and banking.
He graduated with a B.Sc Hons Degree in Petroleum Engineering from the University of Ibadan and holds an M.Sc in Industrial Engineering from the University of Ibadan and an MBA from the University of Lagos.
He is a fellow of the Institute of Chartered Accountants of Nigeria and a member of the Chartered Institute of Bankers and the Chartered Institute of Taxation of Nigeria.
His banking experience spans across several functions including Financial Control, Strategy, Systems and Controls, Credit Risk Management, and Internal Audit.
He has attended management development courses at Harvard, INSEAD, IMD and Wharton Business Schools and was the Chairman of the Association of Chief Audit Executives of Nigeria between 2018 and 2022.
Commenting on the development, the Board Chairman, Mr. Babatunde Folawiyo, explained that the outgoing directors contributed significantly to the Bank’s success, and played a crucial role in shaping its growth trajectory.
He congratulated the newly appointed directors and expressed confidence that their inclusion would be pivotal to the next phase of the Bank’s development.
- According to him, “With their wealth of multi-dimensional experience, diverse perspectives, and deep commitment to driving excellence and innovation, the newly appointed directors are a pivotal addition to Coronation Merchant Bank.
- “Their appointments represent a significant milestone in our evolving story, reinforcing our position as a leading force in the Nigerian financial services industry. Ultimately, our focus remains on delivering exceptional value to our shareholders as we move forward.”
About Coronation Merchant Bank Limited
Coronation Merchant Bank Limited was established in 2015 to provide wholesale banking to a long-underserved market. The Bank offers Corporate & Investment Banking, Private Banking/Wealth Management and Global Markets/Treasury Services to its niche clientele.
It is the first and only merchant bank in Nigeria with an international risk rating. It presently has two branches in Abuja and Port Harcourt with its Head Office in Lagos, Nigeria.
The Bank has been the recipient of numerous international and national awards including Best Investment Bank in Nigeria by Global Finance, Best Investment Bank in Nigeria by World Finance, Best Investment Bank in Nigeria by Global Banking & Finance Review, Best Investment Bank by Global Business Outlook, Best Investment Bank in Nigeria by International Finance and Best Investment Bank in Nigeria at the BusinessDay Banking and Financial Institution Awards.
How does a business establish banking relationship with you?