The board of directors of FBN Holdings Plc has announced the departure of Kayode Akinkugbe as Managing Director and Taiwo Okeowo as Deputy Managing Director of its subsidiary, FBNQuest Merchant Bank Limited.
The Times reported that the Group stated in a notice to the Nigerian Exchange Limited and the investing public that the retirement follows the successful completion of cumulation tenures.
The Board expressed gratitude for their distinguished service to the Bank and wished them success in their future undertakings.
The board also announced Mr. Afolabi Olorode’s appointment as Executive Director of Wholesale Banking, commencing January 5, 2024.
The declaration was signed by Adewale Arogundade, Ag. The Company Secretary indicated that the Central Bank of Nigeria had authorized his appointment.
Olorode will be in charge of the bank’s Client Coverage and Corporate Banking, Investment Banking, Fixed Income, Treasury and Liabilities Solutions, and Agency businesses.
Prior to his appointment, Afolabi oversaw the Coverage and Corporate Banking Group at FBNQuest Merchant Bank, where he was in charge of the bank’s coverage activities and credit portfolio.
Afolabi is an accomplished and versatile banker and business leader with experience in corporate and investment banking, private equity, treasury, project, and trade financing. He has consulted on and raised funds for a number of historic transactions involving leading Nigerian and international clients in restructuring, M&A advisory, and capital raising for over 29 years.
His professional experience spans multiple industries, having worked for Agusto &Co., Frontier Capital, KPMG, and Renaissance Capital, among others.
Afolabi is a Fellow of the Institute of Chartered Accountants of Nigeria and has attended leadership and executive education programs at Columbia Business School, INSEAD, Harvard Business School, Wharton Business School, and Lagos Business School, among other institutions.
He is a University of Lagos graduate with a postgraduate degree in Corporate and International Finance from Durham Business School in the United Kingdom.
