2 min read
318 words
0 views
Fidelity Bank just issued the following press release:
- Following the resumption of the Managing Director of Fidelity Bank, Mr. Nnamdi Okonkwo, Alhaji Mohammed Lawal Balarabe who held forte in the absence of Okonkwo, has been appointed as the Deputy Managing Director of the Bank, subject to regulatory approval.
- Alhaji Balarabe is an erudite banker with over 24 years’ experience in Corporate, Commercial and Retail Banking; Balarabe has worked in various capacities in Nigeria’s Financial Services Industry where he acquired strong Strategic Management, Leadership and People Skills.
- He holds a Bachelor’s Degree in Accounting and Finance from Nottingham Trent University, United Kingdom (UK), as well as Master of Science (M.Sc.) in Finance from the University of Lagos (UNILAG). He has attended several Executive Education programs at Columbia University Business School, INSEAD; Said Business School, University of Oxford; Kellogg School of Management, amongst others. A licensed member of the Nigeria Stock Exchange (NSE) since 1992, Alhaji Balarabe served as Executive Director of Oceanic Bank Plc, pursuant to an appointment by the Central of Nigeria (CBN).
- He was also a General Manager in United Bank for Africa (UBA) and had been the General Manager & Chief Executive of Newdevco Finance Services Company Limited before his appointment to the Board of Fidelity Bank in April 2012.
Analysts are pondering on this press release as they believe there may just be more to it. By naming Balarabe as Deputy Managing Director industry sources suggest this might be a major step towards replacing Nnamdi Okonkwo or basically providing a viable succession plan. Fidelity Bank before now did not have a Deputy Managing Director.
The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort. If required, readers should please consult a competent professional financial adviser for any investment decision.