FBN Holdings Gets New Group Managing Director


Executive Director, South, First Bank of Nigeria Limited, Mr UK Eke is to replace Mr Bello Maccido as Group Managing Director of FBN Holdings Plc with effect from January 1, 2016.

Maccido, pioneer Group Chief Executive Officer, FBN Holdings, is leaving his position to become pioneer Chairman of the newly-licenced FBN Merchant Bank Ltd.

Other changes at FirstBank will see the current Chairman, Prince Ajibola Afonja, retire and Mrs. Ibukun Awosika become the Chairman, First Bank of Nigeria Ltd.

A statement issued by the foremost financial institution explained that following a rigorous selection process driven by the Board and supported by Heidrick & Struggle,  internationally renowned executive search firm, Dr. Adesola Adeduntan, the current Executive Director/CFO emerged Managing Director-designate, First Bank of Nigeria Ltd, while Mr. Gbenga Shobo, the current Executive Director, Lagos & West, emerged Deputy Managing Director-designate.

The development comes on the heels of the Group’s earlier notice of Mr. Bisi Onasanya’s retirement as GMD/CEO of the Bank.


According to the statement, the decisions have been ratified by the Board of Directors, subject to all necessary regulatory approvals.

The statement quoted Dr. Oba Otudeko, (CFR), Group Chairman, FBN Holdings, as saying “Following an exhaustive and competitive process, we are proud to announce these appointments. In reaching these decisions we are mindful of the imperatives for a more efficient group structure that will benefit the Group’s need to deploy systems which deepen efficiency while expanding revenue and returns on investment. We are confident that we have made the right choices in these appointees. In selecting our MD and DMD we were particularly mindful to identify outstanding and topnotch professionals with complementary and mutually reinforcing skill set.

“These appointments are a testament to the strength of our succession planning mechanisms and the caliber of candidates it produces. It also re-articulates our commitment to put our customers first with the confidence in the value that this new leadership team brings to bear on behalf of the Group, customers and employees, even as we strive to return greater value to shareholders,” he said.

*Contact Editor through Citybusinessnews@yahoo.com