Emeka Emuwa joined Union Bank in November 2012, following a
$500 million investment by Union Global Partners, with a mandate to transform
and restore one of Nigeria’s oldest institutions back to its rightful position
as a respected provider of financial services.
With his imminent departure, the Board has appointed Emeka
Okonkwo, an Executive Director currently leading the Bank‘s Corporate Banking
business, to succeed him. The appointment is subject to the approval of the
Central Bank of Nigeria.
Commenting on his retirement, Emeka Emuwa said; “I have
enjoyed the significant challenge of leading Union Bank over the last eight
years. I am extremely proud of the management team and what we have been able
to accomplish during my time as CEO.”
“Today, we have a strong bank that is well-positioned to
compete and deliver on its vision to be ‘Nigeria’s most trusted and reliable
partner.’ With a clear strategic direction, a growing and loyal customer base,
and a strong brand, this is now the natural time for the next generation of
leadership to take Union Bank forward and deliver further value.”
“In over three decades of banking, my time at Union Bank has
been one of the richest experiences in a long and fulfilling career with a
treasure of work and life lessons to carry into the future. Together as a team,
we scaled many hurdles and accomplished significant feats and I would like to
thank my Executive team, senior management, and every one of our employees for
their integrity, support, and hard work that have brought Union Bank to where
it is today.”
“I would also like to thank the Board for the opportunity to
lead this storied institution that has impacted generations of Nigerians for
over a century and for supporting our efforts and vision during my tenure.”
“As we begin the transition into a new era of leadership
under Emeka Okonkwo, a consummate professional with the right experience and
values, I know that Union Bank will continue on its path as a value-driven
organisation that is deeply committed to our customers and the communities we
serve.”
Prior to joining Union Bank, Emeka Emuwa led a distinguished
25-year career at Citibank. Following several senior roles in Nigeria and
across Africa, he became the first Nigerian to be named Country Officer and
Managing Director of Citibank Nigeria.
On his retirement, Emeka Emuwa will also step down from the
Board of Union Bank. Union Bank’s Chair, Beatrice Hamza Bassey, said;
“On behalf of the Board, I would like to thank Emeka Emuwa
for leading Union Bank during the last eight years. His exceptional
contribution to the transformation of the business produced excellent results
and set a solid platform for growth. The focus over the last eight years on
technology transformation, digital innovation, and development of diverse
markets for our world-class range of products, has seen Union Bank well
positioned to continue growing from its current position as a market
disruptor.”
“Amid a tough macroeconomic environment, Union Bank
maintained steady operational momentum under Emeka’s leadership which in 2020
culminated in the first dividend payment to investors and shareholders in over
ten years.”
“His many significant achievements, including providing
steady stewardship during the unprecedented challenges wrought by the COVID-19
pandemic, lays a solid springboard for the future. We wish him the very best
and are grateful for his support and commitment to ensure a successful
transition over the next few months.”
“The Board is pleased to have Emeka Okonkwo as incoming CEO.
Having been a key contributor to the achievements of the Bank over the past
seven years as an Executive Director, Emeka Okonkwo is well suited to lead
Union Bank’s next phase of growth. The Board and I look forward to working with
him to execute our strategy and deliver value to all stakeholders in the years
ahead.”
Emeka Okonkwo is a seasoned banker with 30 years of
experience. He joined Union Bank in 2013 as an Executive Director to lead the
Corporate Banking and Treasury business. As the Bank embarked on its
transformation, he was responsible for rebuilding the business and
strategically positioning Union Bank for success in the Corporate Banking
space.”
Mr. Okonkwo began his career at Citibank Nigeria where he
rose from officer level to become Executive Director in charge of Commercial
Banking and Global Subsidiaries in 2009. At Citibank, he worked across various
disciplines including Corporate Finance, Credit Risk Management, Marketing,
Treasury and Strategic Management in Nigeria and London.
Prior to joining Union Bank, he was the Head of the
Corporate and Investment Banking Division in Citibank Bangladesh. Emeka Okonkwo
has a bachelor’s degree in Civil Engineering from the University of Nigeria,
Nsukka; an MSc in Construction Management from the University of Lagos and an
MBA from Warwick Business School, UK.