Coronation Merchant Bank is setting the stage for a more ambitious decade as it confirms the appointment of Paul Abiagam as Managing Director and Chief Executive Officer, effective 1 December 2025, following regulatory approval from the Central Bank of Nigeria. The leadership transition aligns with the bank’s tenth anniversary—an inflection point the institution describes as the dawn of a more mature and strategically assertive chapter.
Abiagam’s elevation comes after a successful period as Acting Managing Director, during which the bank delivered one of its strongest performances in recent years. Under his interim leadership, growth improved across key financial metrics, profitability strengthened, and customer engagement deepened. The bank also expanded its balance sheet and fortified its capital position, signalling renewed confidence among clients and market partners.
The year 2024 proved pivotal for Coronation Merchant Bank. The institution introduced new business verticals—including Public Sector and Financial Institutions—to extend market reach and enhance execution capabilities. It also consolidated its influence in the Equity Capital Markets, advising on several high-profile capital-raising transactions for companies navigating shifting regulatory environments. These developments, the bank noted, reflect an organisation regaining strategic momentum and sharpening its competitive edge.
Abiagam’s appointment is underpinned by more than 27 years of experience across commercial and corporate banking, pensions, wealth management, investment banking and risk management. His career includes senior leadership roles at Diamond Bank and Guaranty Trust Bank, where he headed Commercial and Corporate Banking divisions. He later served as Managing Director/CEO of Guaranty Trust Pension Managers and as a Non-Executive Director at GTBank Côte d’Ivoire.
Beyond his executive roles, Abiagam has contributed to wider industry discourse through engagements at the Africa Financial Industry Summit and the Africa CEO Forum, where he has spoken on innovation, governance, competitiveness and the evolution of Africa’s financial architecture. He is a Fellow of the combined body of the AICPA and CIMA, an Honorary Fellow of the Chartered Institute of Bankers of Nigeria, and an alumnus of Lagos Business School and Nanyang Business School.
Board Chairman Babatunde Folawiyo described the appointment as a strategic step for the bank’s next phase of growth, noting that Abiagam’s leadership has already reinforced the institution’s foundations. “Paul’s appointment reflects our confidence in his ability to sustain the Bank’s growth trajectory and guide it into a new era of performance and industry leadership,” he said.
In his remarks, Abiagam called the confirmation an honour, highlighting the bank’s commitment to innovation and client value. “As we celebrate a decade of impact, our focus remains on deepening value for clients, strengthening our market position, and driving innovation across every part of our business,” he stated.
The appointment caps a year in which Coronation Merchant Bank secured multiple industry recognitions across investment banking, brand leadership and capital markets performance—further signalling its intent to strengthen its position within Nigeria’s evolving financial landscape.