By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVPCATE)-Nigeria’s mid-tier lender, Skye Bank Plc Tuesday announced the appointment of Timothy Oguntayo as the new managing director/chief executive officer (MD/CEO) of the bank.
This is coming on the heels of the retirement of Kehinde Durosinmi-Etti, the bank’s group MD/CEO which will take effect from August 01, 2014.
Skye Bank said that its board of directors, at a meeting held on Monday, April 14, 2014, approved the retirement of Durosinmi-Etti from the bank.
Skye Bank said its board at the same meeting, in line with its succession plan, appointed Oguntayo as its new MD/CEO.
While Amaka Onwughalu was also appointed the deputy managing director (DMD) of the bank with effect from April 15, 2014.
Oguntayo is an alumnus of the Prestigious INSEAD, Fontainebleau in France and a Fellow of the chartered institute of bankers of Nigeria (CIBN). He is also an associate of the institute of chartered accountants of Nigeria (ICAN) and has over two (2) decades of banking experience in corporate finance and investment banking, business development, credit and marketing and operations.
He was appointed to the board of the bank on August 18, 2009 and was the pioneer MD/CEO of Skye Financial Services Limited (the investment banking arm of Skye Bank) before the bank’s divestment from the company in 2012. He also served on the board of Skye Stockbrokers Limited and Law Union & Rock Insurance Plc.
Oguntayo is currently a director on the board of Kakawa Discount House Limited.
According to Skye Bank, prior to this appointment, Oguntayo was the bank’s executive director responsible for the supervision of corporate and investment banking group, commercial banking in the South-West Region and all the international banking subsidiaries of the bank.
On her part, Onwughalu, the newly appointed DMD, was appointed to the board of the bank on November 30, 2008 as an executive director (ED). She is an astute banking professional with over 25 years’ experience and expertise in commercial banking, retail banking, treasury management and banking operations amongst others.
She rose to the position of acting MD of Reliance Bank Limited in April 2005, prior to its merger with Skye Bank Plc in 2006.
Before this appointment, Onwughalu was overseeing the treasury group, the international funding group and the South East, Edo and Delta (SEED) directorate, as well as the Lagos markets.
Onwughalu holds a Bachelor’s degree in Economics and a Master’s Degree in corporate governance. She is also an alumnus of INSEAD, Fontainebleau in France and IMD Business School, Lausanne, Switzerland. She has attended many local and foreign courses and seminars and is a member of several professional bodies including the chartered institute of bankers of Nigeria (CIBN), Nigeria institute of management (NIM) and institute of directors (IoD).
