Sterling Financial Holdings has announced the appointment of Mr. Ashutosh Kumar as a Non-Executive Director of Sterling Financial Holdings Company Plc.
This announcement was made public through a notification on the Nigerian Exchange Group’s (NGX) disclosure page on September 20, 2024
Additionally, the bank revealed the appointment of Professor Olayinka David-West as an Independent Non-Executive Director of Sterling Bank Ltd.
Key Appointments:
- Ashutosh Kumar
According to the bank’s disclosure, Mr. Ashutosh Kumar brings over 13 years of extensive experience across various banking sectors, including international banking, forex and derivatives, risk management, credit, trade finance, retail banking, and performance planning.
He is also proficient in regulatory compliance and reporting, which will be instrumental in his new role as a non-executive director of Sterling Financial Holdings Company Plc.
Mr. Kumar previously served as Deputy General Manager (Business Operations) of the Jodhpur Zone and Chairman of the Zonal Credit Committee. He is currently the Country Head and CEO of State Bank of India (SBI), South Africa.
Kumar is also a Certified Associate of the Indian Institute of Banking and Finance, a Certified Treasury Professional, and holds various certifications in securities operation, risk management, currency derivatives, and equity derivatives.
- Professor Olayinka David-West
Professor Olayinka David-West brings three decades of experience in IT and the financial services industry.
As a professor of information systems and Associate Dean at Lagos Business School, she combines academic expertise with leadership experience, serving on the school’s management board.
She is also the leader of the Sustainable and Inclusive Digital Financial Services (SIDFS) initiative, which focuses on research and advocacy to promote financial inclusion in Nigeria.
Professor Olayinka holds several expert certifications in financial inclusion policy and digital money, which will be beneficial in her new role as an Independent Non-Executive Director of Sterling Bank Ltd.
She is a member of the Governing Council of the Fintech Association of Nigeria and African Women in Finance and Payments.
Additionally, she is affiliated with various professional organizations, including the Association of Information Systems (AIS), Information Systems Audit and Control Association (ISACA), and the African Academy of Management (AFAM).
Recent Developments at Sterling Bank
Sterling Bank recently made headlines by migrating to SeaBaaS (Seamless Banking as a Service), the continent’s first-ever indigenous core banking solution.
SeaBaaS is a new advanced core banking system, utilizing cutting-edge technologies such as microservices architecture, cloud-native infrastructure, open APIs, and AI-driven analytics.
This transition marks a significant milestone for the bank and sets a precedent for innovation in African banking technology.
The implementation of SeaBaaS, developed by Peerless, marks the completion of a new banking system announced to customers in August 2024.