Owners of First Bank, FBNHoldings, has appointed Adebowale Oyedeji as its new Group Managing Director (GMD), according to a corporate disclosure submitted to the Nigerian Exchange Limited on Friday.
The announcement stated that Oyedeji’s appointment will officially take effect on November 13, subject to approval by the Central Bank of Nigeria (CBN) and ratification by shareholders at the company’s next Annual General Meeting.
Commenting on the development, the Group Chairman, Femi Otedola, said, “The Board is pleased to welcome Wale Oyedeji to the Holdco and looking forward to him building on the solid foundation of 130-year-old franchise and sustaining its undisputed leadership position.”
Per the corporate notice, Oyedeji will replace Nnamdi Okonkwo, who is set to retire upon the completion of his tenure.
The newly-appointed GMD holds a Bachelor’s degree in Agricultural Economics from the University of Ibadan and a Master’s in Financial Economics from the University of London. A Fellow of the Institute of Chartered Accountants of Nigeria, Oyedeji is also an alumnus of Harvard Business School’s Advanced Management Program.
With over three decades of experience in banking, Oyedeji has held several leadership roles across corporate banking, treasury, commercial banking, and general management. Notably, he served as the Managing Director of Guaranty Trust Bank UK between 2008 and 2011. In October 2011, he joined the Board of Guaranty Trust Bank as an Executive Director for Corporate Banking, contributing significantly to the bank’s growth. He has also held the position of Independent Non-Executive Director at Stanbic IBTC Bank.
Before his recent appointment, Oyedeji served as the MD/CEO of Nova Merchant Bank, where he led efforts to secure the bank’s commercial license and expand into retail banking. His professional journey began with Ernst & Young, where he trained as an accountant.
As the new GMD, Oyedeji will oversee the leadership of FBNHoldings and its subsidiaries, spearheading the implementation of the company’s five-year strategic plan.
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