Fidelity Bank Plc. has notified the Nigerian Stock Exchange (NSE) and the general public of the appointment of Mrs. Nneka Onyeali-Ikpe, as the incoming Managing Director/Chief Executive Officer, effective January 1, 2021.
The bank made the announcement yesterday in a notice on the NSE website, signed by Ezinwa Unuigboje, its Company Secretary.
According to the notice, the appointment followed the impending retirement of its Managing Director/ Chief Executive Officer, Mr. Nnamdi Okonkwo, from the Board of Directors of the bank, with effect from December 31, 2020, upon completion of his contract tenure.
“In compliance with the succession policy of the bank, the board has approved the appointment of Onyeali-Ikpe, the current Executive Director, Lagos and South-West Directorate as the MD/CEO designate of the bank, to assume office with effect from January 1, 2021.
“The approval of the Central Bank of Nigeria (CBN) has been obtained for the appointment,” said the statement. It said the board had also approved the appointment of Mr. Kevin Ugwuoke, the current Chief Risk Officer of the bank, as Executive Director/Chief Risk Officer, subject to the approval of the CBN.
The statement said that Okonkwo was appointed to the Board of the bank in April 2012 as an Executive Director and was subsequently appointed the MD/ CEO on January 1, 2014.
It said that Okonkwo implemented a digital-led strategy which led to significant growth across key performance metrics and increased market share, with the bank currently ranked sixth amongst Nigerian banks on most performance indices.
The bank under Okonkwo’s management successfully accessed the local and international markets through the issuance of N30 billion Corporate Bonds in 2015 and $400 million Eurobonds in 2017.
The board seized this opportunity to express sincere appreciation to Okonkwo for his significant contributions to the growth and development of the bank during his tenure on the Board.
The statement noted that Onyeali-Ikpe was appointed to the Board of Fidelity Bank in 2015 as an Executive Director and currently oversees the Lagos and South-West Directorate.
It stated that she led the transformation of the directorate to profitability and sustained its impressive year-on-year growth across key performance metrics.
The bank said that Onyeali-Ikpe had been an integral part of the current management team responsible for the remarkable increase in the bank’s performance in the last five years.
It said that the area under her direct responsibility, in the period, contributed over 28 per cent of the bank’s profit before tax, deposits and loans.
“Onyeali-Ikpe has over 30 years of experience across various banks, including Standard Chartered Bank Plc., Zenith Bank Plc. and Citizens International Bank Limited, where she held several management positions in Legal, Treasury, Investment Banking, Retail/ Commercial Banking and Corporate Banking.
“She has been involved in the structuring of complex transactions in various sectors, including oil and gas; manufacturing, aviation, real estate and export.
“As an Executive Director at Enterprise Bank, she received formal commendation from the Asset Management Corporation of Nigeria (AMCON) as a member of the management team that successfully turned around Enterprise Bank.
“She holds Bachelor of Laws (LLB) and Master of Laws (LLM) degrees from the University of Nigeria, Nsukka and Kings College, London, respectively,” it said.
It added that Onyeali-Ikpe had attended executive training programmes at Harvard Business School, the Wharton School University of Pennsylvania, INSEAD School of Business, Chicago Booth School of Business, London Business School and IMD, amongst others.
According to the bank, Onyeali-Ikpe is currently undergoing a diploma programme in Organisational Leadership at Said Business School, Oxford University, UK.