Oyedeji's tenure will commence on November 13, subject to approval from the Central Bank of Nigeria and ratification by the shareholders at the forthcoming Annual General Meeting.
In a statement regarding this appointment, Femi Otedola, the Group Chairman of FBNHoldings, expressed, “The Board is delighted to welcome Wale Oyedeji to the Holdco and anticipates his efforts in building upon the robust foundation of our 130-year legacy while maintaining our leading position in the industry.”
The corporate notice further indicated that Oyedeji succeeds Nnamdi Okonkwo, who will retire from the Company upon the conclusion of his term. The newly appointed GMD holds a Bachelor of Science in Agricultural Economics from the University of Ibadan and a Master of Science in Financial Economics from the University of London. He is a Fellow of the Institute of Chartered Accountants of Nigeria and an alumnus of the Advanced Management Program at Harvard Business School.
With over 30 years of experience in banking, Oyedeji has expertise in corporate banking, treasury, commercial banking, and general management. He served as the Managing Director of Guaranty Trust Bank UK from 2008 to 2011 and was appointed to the Board of Guaranty Trust Bank in October 2011, where he held the position of Executive Director for the Corporate Banking Group, significantly contributing to the business's growth and transformation. Additionally, he has served as an Independent Non-Executive Director at Stanbic IBTC Bank.
Before his current role as GMD of FBNHoldings, Wale was the MD/CEO of Nova Commercial Bank, where he played a key role in the institution's transition to a commercial bank and its expansion into retail banking. He began his career at Ernst & Young, where he trained as an accountant.
At FBNHoldings, Wale will guide the Executive teams at the holding company and its various subsidiaries in executing the new five-year strategic plan.