SAN FRANCISCO, May 17, (THEWILL) – United Bank for Africa PLC (UBA) on Tuesday announced the appointment of five new Executive Directors, subject to the approval of the Central Bank of Nigeria.
The pan Africa banking group, with operations in 19 African countries and presence in the London, Paris and New York, appointed Ayo Liadi; Oliver Alawuba; Ibrahim Puri; Uche Ike and Chuks Nweke, all have been promoted from within the Bank, as a sign of the depth of internal talent and the Group’s commitment to fostering promotion of its own human capital.
A statement released by the Bank revealed that the new executive directors will also be joining the Board with the incoming Group CEO, Kennedy Uzoka, who was appointed in March 2016 and will assume his role on the 1st of August, on the retirement of Phillips Oduoza.
Congratulating the newly appointed Directors, the Group Chairman, Tony Elumelu said: “These appointments will greatly assist in the plans we have to transform the UBA Group into a truly customer led bank and the foremost financial institution in Africa.
“These are exciting times for UBA. With this leadership, I have no doubt that the Bank will continue on its strong growth trajectory.”
Elumelu, also commended the outgoing Directors saying “I take this opportunity to inform you that two of our Executive Directors, Femi Olaloku and Obi Ibekwe will be retiring from the Board effective June 30 and May 31, 2016 respectively. I would like to thank them for the enormous contributions they have made during their time of service.”
THEWILL recalls that UBA, in April this year, held an intensive three day strategy session which brought together the Group Board, subsidiary CEOs and board chairs to set a path for the Pan Africa Bank’s future.
At the Group strategy session, the Bank resolved to deepen its commitment to its pan Africa strategy and accelerate its expansion across the continent.
The Bank also reported strong financial results in 2015, in what it described as a challenging macro environment. Gross earnings were N315billion whilst operating profits approximated to N70billion.
It has also declared first quarter profits in the current financial year, at N18 billion.
Story by David Oputah
