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FCMB Group Announces Leadership Changes

BellaNaija.com

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FCMB Group Plc has announced the re-organisation of its leadership at the Group level, as well as its flagship company First City Monument Bank Limited (FCMB Limited). Effective March 20th, 2017, Ladi Balogun, having served as Group Managing Director of the commercial banking arm, FCMB Limited for 10 years, will be stepping down in this capacity. He will assume the role of Group Chief Executive of the holding company, FCMB Group Plc.. The holding company comprises FCMB Limited, FCMB Capital Markets, CSL Stockbrokers and CSL Trustees.

Under Ladi Balogun’s leadership, FCMB Limited has undergone a successful transformation from a merchant bank to a top 10 commercial bank in Nigeria across key metrics. During this period the bank has emerged as a leader in consumer finance, agricultural banking and electronic banking. The bank’s franchise has grown to 4 million customers, 220 branches and a successful banking subsidiary in the United Kingdom.

Ladi Balogun will be succeeded as Managing Director of FCMB Limited by Adam Nuru, who is currently the Executive Director in charge of Business Development for the bank. He previously served as Regional Director, in charge of Abuja and Northern Nigeria, where he was responsible for growing the bank’s Northern franchise to become the largest and most profitable region of the bank. Adam Nuru has 28 years of banking experience, with 7 years spent with FCMB. He is a graduate of Ahmadu Bello University, Zaria, where he studied Business Administration, and has attended management programmes at leading international educational institutions.

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5 Comments

  1. Big Tee

    February 20, 2017 at 6:32 pm

    Baba’s boy climbs to the next level, succession planning to bahd!!!

  2. Marks

    February 20, 2017 at 6:58 pm

    Banks have started promoting their executives of Northern extraction to highly influential.roles now. Nigerian banking is way too tied to the public sector. Anyways, Nigeria has no economy other than public sector economy.

    • tunmi

      February 20, 2017 at 7:44 pm

      No, don’t promote the guy who grew a division to become the largest and most profitable region of the organization. When he goes elsewhere, then you complain.

      “He previously served as Regional Director, in charge of Abuja and Northern Nigeria, where he was responsible for growing the bank’s Northern franchise to become the largest and most profitable region of the bank”

  3. Mide

    February 20, 2017 at 9:02 pm

    There is no more Heavy bucks in Public sector..
    Please dont just post cos your hand is itching you.
    Lets just stop having an ethnocentric brain

  4. Purplegirl

    February 21, 2017 at 1:02 am

    Wow!! Seems like yesterday when I first read about Mr. Ladi’s appointment. Congratulations Mr Nuhu. I hope he does improve FCMB in the south.

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