Ladi Balogun becomes CEO of FCMB Group Plc

20 Feb 2017
Financial Nigeria

Summary

Balogun’s appointment takes effect from March 20, 2017 as he serves out the maximum tenure of 10 years as CEO of FCMB Limited. 

Ladi Balogun, CEO, First City Monument Bank

Ladi Balogun, Group Managing Director/ Chief Executive Officer of First City Monument Bank Ltd, has been appointed to be the Group Chief Executive of FCMB Group, a leading financial services institution in Nigeria. His appointment was announced today in a statement signed by Olufunmilayo Adedibu, the Company Secretary of FCMB Group Plc.

Balogun’s appointment takes effect from March 20, 2017 as he serves out the maximum tenure of 10 years as CEO of FCMB Limited, the commercial banking arm of FCMB Group, as stipulated by the Central Bank of Nigeria.

"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," FCMB said.

Balogun will be succeeded as Group Managing Director of FCMB Limited by Adam Nuru, who is currently the Executive Director in charge of Business Development for the bank. Nuru has 28 years of banking experience and was formerly the bank’s Regional Director, Northern Nigeria. He has worked with FCMB Limited for seven years.

Balogun holds a Bachelor’s degree in Economics from the University of East Anglia, United Kingdom and an MBA from Harvard Business School, USA. He has over 20 years’ experience in commercial and investment banking in Europe, the United States and Africa.

FCMB Group’s subsidiaries include FCMB Limited, FCMB Capital Markets, CSL Stockbrokers and CSL Trustees.


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