Segun Agbaje, CEO, Guaranty Trust Bank
In furtherance of its efforts to position itself as the Bank of choice within the country, second generation Bank, Guaranty Trust Bank plc has appointed a new Deputy Managing Director and three Executive Directors to its board.
According to top sources at the Bank, Mrs. Cathy Echeozo, formerly an Executive Director and head of the Bank's Institutional Banking Division, was appointed Deputy Managing Director at a recent board meeting.
Mrs. Echeozo joined GTBank in 1993 and has worked in the Bank's Treasury Management, Credit Management, Systems & Control and Institutional Banking Divisions. She has a first degree in Accounting from the University of Nigeria and an MBA from the University of Maryland U.S.A. A certified Information Systems Auditor and Fellow of the Institute of Chartered Accountants of Nigeria, she was Chairperson Emerging Issues Sub Committee, on the Committee of Chief Inspectors of all Banks in Nigeria (1999-2000) and pioneered the Bank's entry into the Nigerian Retail Market.
In addition to Mrs. Echeozo's appointment, Mr. Wale Oyedeji, former Managing Director of GTBank (U.K) Limited, Mr. Demola Odeyemi, Chief Financial Officer and Head of Strategy and Mrs. Tola Omotola, Company Secretary and Legal Adviser of the Bank, were also confirmed as Executive Directors of the Bank. The new Executives will replace three former Directors; Mr. Jide Ogundare, Mrs. Titi Osuntoki and Mr. Akin George-Taylor, who voluntarily resigned from the Bank recently, after having put in between 18 to 21 years of service each.
According to a statement by Mr. Segun Agbaje; Managing Director of Guaranty Trust Bank plc "the exiting trio have contributed immensely to the success of the Bank. However this provides an opportunity to further to engender a rejuvenation and provide ample opportunities for the younger generation to rise up and harness their full potentials". Mr. Agbaje further stated that the new appointments were subject to the approval of the Central Bank of Nigeria (CBN).
Known for a smooth succession plan which has seen the third CEO emerge from the ranks since the bank commenced operation over 21 years ago, Mrs. Echeozo's appointment provides a chance for GT Bank to have the first female to head the bank's management when the term of the current managing director expires.
Guaranty Trust Bank plc has instituted structures and introduced several innovations over the last 4 months in its bid to further consolidate its position as the most serviced focused and profitable bank ing Nigeria. These include the migration of its operations to HP Superdome Servers, the Introduction of a 'FastTrack' banking system that allows its customer withdraw money within its branches using their debit cards and the introduction of GTCrea8 eSavers; an undergraduates account built on the familiarities of the standard 'Generation Y' customers.
Guaranty Trust Bank was recognized in July this year as the 2011 'best bank in Nigeria' at the Euromoney Awards for Excellence. The Bank's 3rd Quarter Unaudited results which were recently released on the floor of the Nigerian and London Stock Exchanges show gross earnings of over N138 billion and a profit after tax and extra-ordinary items of over N40 billion for the 9 month period of January to September, 2011.