By InvestAdvocate
Lagos (INVESTADVOCATE)-Pan African lender, Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group, on Monday named Ade Ayeyemi as its new Group Chief Executive Officer (GCEO).
“His appointment is effective from 1 September 2015, ETI said in an issuer’s announcement to the Nigerian Stock Exchange (NSE).
Ayeyemi will replace Albert Essien, who retires on 30 June, 2015 after 25 years of service with the Group. “An interim arrangement will be made by the Ecobank Board for the management of the Group during the period 1 July through 31 August, pending the resumption of the new GCEO,” ETI said.
According to the pan Africa lender, Ayeyemi is a highly experienced banker who has had a long and successful career with Citigroup, where he is currently CEO of Citigroup’s sub-Saharan Africa division, based in Johannesburg.
He is an Accounting graduate of the University of Ife, now Obafemi Awolowo University, Ile-Ife, Nigeria, where he earned a Bachelor of Science degree with First Class Honours. He also studied at the University of London and is an alumnus of Harvard Business School’s Advanced Management Programme. A Chartered Accountant, Ayeyemi is also a trained UNIX Administrator and Network Operating Systems.
Share price of ETI at the close of business on Monday at the Nigerian bourse inched up 0.37 percent to N21.78 from N21.70 traded last Friday gaining 0.08 kobo per share.
