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Sunday, 31 July 2016

FBN Announces New Board Appointments

FBN Holdings Plc, the leading and most diversified financial services group in Nigeria, has announced new Board appointments in the FBN Holdings Group, effective July 19 2016.

The appointments have been approved by the Board of Directors, but remain subject to all necessary regulatory approvals. Ms. Cecilia Akintomide and Mrs. Oluwande Muoyo are joining the Board of FBN Holdings Plc, while Mrs. Titi Adebiyi and Alhaji Yusufu Modibbo join the Board of FBN General Insurance Limited, all as Independent Non-Executive Directors.

Other appointments in the group have Mr. Akin Osinbajo and Mr. Babatunde Odunayo join the Board of FBN Merchant Bank Limited while Mr. Folarin Alayande joins the Board of FBN Insurance Brokers Limited respectively, all as Non-Executive Directors.

These developments are consistent with the FBN Holdings Group corporate governance, risk management, efficiency, diversity and sustainability outlook, enabling the Group to take advantage of the synergies from its globally experienced Board members for the benefit of its wide array of customers and other stakeholders.

Ms. Akintomide brings varied senior management experience with a legal background. She was until recently Vice President Secretary General of African Development Bank Group, a multilateral development bank, where she was responsible for managing shareholder relations involving 80 member states, providing final level policy and quality review, as well as negotiating project and policy approvals. She possesses excellent knowledge and experience in corporate governance, development policy, financing, resource mobilization, as well as working and leading in a multicultural and bilingual environment. She will bring to bear on the Board of FBN Holdings Plc her global wealth of experience spanning over 30 years’ post call to Bar.

Mrs. Muoyo is a chartered accountant and professional banker with over 30 years’ post-qualification experience in the private and public sectors. She is the immediate past Honourable Commissioner for Budget and Planning in Ogun State and before then had been in banking for over 22 years. She is skilled in public finance management, budgeting, planning, financial control, treasury and financial services, private banking, foreign operations, corporate banking, transactional banking, auditing and taxation. These experiences and her key skills in policy formulation, high level decision making, relationship management and business development will serve the Board of FBN Holdings Plc well.
With over 30 years’ experience as a practicing attorney, Mr. Akin Osinbajo was Honourable Attorney-General and Commissioner for Justice Ogun State for eight consecutive years.

He is a highly experienced Advocate and Commercial Law Practitioner, Chartered Arbitrator and Notary Public, who has represented several multinational and local clients, and worked with some of the world’s reputed law firms in transactions with trans-national jurisdictions across many continents. His international commercial law and leadership experience are expected to positively impact the Board of FBN Merchant Bank Limited.

A highly experienced corporate executive, Mr. Odunayo, an agriculturist and chartered accountant, was Executive Vice Chairman/CEO of Honeywell Flour Mills Plc where he served for 17 years as pioneer CEO, part of a total 22 years in the service of the Honeywell Group. As Group Managing Director of Honeywell Group of Companies, he had responsibility for eight companies in the Group.

He is Chairman of FBN Mortgages Ltd, among other board positions. His strong acumen in corporate growth and development will benefit the Board of FBN Merchant Bank Limited.

Mrs. Adebiyi, Managing Director, Avit Trust and Investment Ltd, is a passionate and focused business administrator, with 26 years’ all-round experience in commercial bank branch operations, relationship management, and corporate leadership. She sits on the Board of Sigma Pensions Ltd and will make invaluable contributions to the Board of FBN General Insurance Limited.

Alhaji Yusufu Modibbo, an agriculturist and banker with over 30 years’ experience, is versed in investment banking, public sector, non-interest banking, corporate finance, international operations, credit and marketing as well as corporate development and stockbroking. His vast experience in financial services will bring immense benefit to the Board of FBN General Insurance Limited.

Mr. Alayande is Head of Strategy and Corporate Development of FBN Holdings Plc with responsibility for growth and innovation across the Group. He was previously pioneer Director of Public Service with global consulting firm Accenture in Nigeria, with responsibility for client account leadership and market development across Tax and Revenue Agencies, Public Sector Operations, and Defence and Public Safety. As Country Strategy Lead for Accenture between 2007 and 2011, he served as programme director for Nigeria’s Vision 2020 Economic Transformation Programme. He brings the multi-facetted advantages of his wide global management and consulting experience to bear on the Board of FBN Insurance Brokers Limited.

While announcing the appointments, Dr. Oba Otudeko (CFR), Group Chairman, FBN Holdings Plc, enthused: “These appointments are meant to deepen the corporate governance, insight and strategic decision making of the Boards in our Group, while extending value for our customers, shareholders, employees and other stakeholders in a sustainable manner.”

With these Board appointments, the FBN Holdings Group is poised to continue the drive to deepen its foothold across Africa, whilst maintaining presence in various regions of the world.

Signed
Folake Ani-Mumuney
Global Head, Marketing & Corporate Communications

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