The Oasis Reporters
July 15, 2021
*…emerging competitive landscape drives need to take advantage of new business opportunities
**strengthen earnings, create value for customers and shareholders.
When on December 23, 2020 The Oasis Reporters broke the news that Mrs. Nneka Onyeali-Ikpe was set to resume as Fidelity Bank Managing Director/ CEO, we added that the robust banking sector of Africa’s biggest economy was set to witness a feminine verve, as women would no longer be pall rice, eaten only when there’s no other choice, that change would come as from January 1, 2021.
The fair lady has proved her mettle with the Q1 results that saw unprecedented ROI in the profitability of the bank.
Another delightful entrance into the 2019 theme for the International Women’s Day which was ‘BalanceforBetter’ has seen an addition with the
appointment of Mrs Miriam Olusanya as the managing director of Guaranty Trust Bank Limited.
This is according to a notice signed by the company’s secretary, Erhi Obebeduo, and sent to the Nigerian Exchange Group Limited (NGX).
Miriam Olusanya is an accomplished banker with over 21 years of experience spanning transaction services, treasury, assets and liability management, corporate finance and wholesale banking. She joined GTB in 1998 as an executive trainee and has risen through the ranks, holding strategic leadership positions en route.
Prior to her recent appointment, she was the Group Treasurer and Head of Wholesale Banking. Olusanya also serves on the Board of Guaranty Trust Bank (Gambia) Limited as a non-executive director.
She is an alumna of Nigeria’s premier University, University of Ibadan and University of Liverpool, where she obtained a Bachelor’s degree in Pharmacy and an MBA in Finance and Accounting respectively.
The newly established Guaranty Trust Holding Company Plc made the announcement, including the news of it’s new board of directors as well as changes to the board of its banking subsidiary, Guaranty Trust Bank Limited on Wednesday.
The statement said, “The banking subsidiary, Guaranty Trust Bank Limited will be governed by a board of directors comprising, Mr Ibrahim Hassan as chairman of the board, Mrs Miriam Olusanya as managing director, Mr Jide Okuntola as deputy managing director, Mr Haruna Musa as executive director, Mr Olabode Agusto as independent non-executive director, Ms Imoni Akpofure and Mrs Victoria Adefala as independent non-executive directors.
According to the statement, Guaranty Trust Holding Company Plc would be governed by a board of directors comprising of Mr Sola Oyinlola as chairman of the board and Mr Segun Agbaje as the group Chief Executive Officer, Mr Adebanji Adeniyi as executive director, Mrs Cathy Echeozo as non-executive director, Mr Suleiman Barau and Mrs Helen Bouygues as independent non-executive directors
All the appointments had been approved by the Central Bank of Nigeria and disclosed to the Securities and Exchange Commission and the Nigerian Exchange Group, it stated.
It stated that Guaranty Trust Bank Plc had completed its re-organisation to a holding company structure. Under the terms of the re-organisation, a new operating company had been established and amendments made to the articles of incorporation for a corporate name change. The corporate name of Guaranty Trust Holding Company Plc and GTCO Plc would be used by the newly established operating company.
While speaking during the listing of GTCO’s shares with a closing gong ceremony on the Nigerian Exchange Limited on Tuesday, Agbaje, said that the new structure of the group would give it better advantage to compete and create value for its customers and shareholders.
Commenting further on the completion of the corporate re-organisation, the Group Chief Executive Officer of GTCo, Mr Segun Agbaje said: “We believe that a Holding Company Structure will allow us take advantage of new business opportunities in the emerging competitive landscape and strengthen our earnings base.
We are very excited to get started on the next phase of our incredible journey to driving Africa’s growth by making end-to-end financial services easily accessible to every African and African businesses by leveraging Technology and Strategic partnerships. As a bank, we were always looking to meet every customer need; with our corporate re-organisation, we will be able to do more to help our customers thrive in this new world of digital technologies and unprecedented possibilities.
‘’Whilst we are evolving as an organization, we remain committed to our founding values which have endeared our brand to millions of people across Africa and beyond, and which continues to drive our financial success. As a proudly African and Truly International brand, we will continue to live by these values-of excellence, hardwork and integrity, even as we create faster, cheaper, safer and more diverse products for people and businesses of varied types and sizes.’’
The group noted that the listing followed the completion of all regulatory requirements for the corporate reorganisation into a holding company structure, and the listing of GTCO Plc, on the NGX and the London Stock Exchange, replacing Guaranty Trust Bank Plc.
During the event, Guaranty Trust said that as part of its long-term growth strategy, it had now adopted a holding company structure where GTCO Plc would operate as the parent company of all Guaranty Trust banking businesses across Africa and the United Kingdom as well as other non-banking businesses which would be established following the transition.