FBN Holdings Plc has notified The Nigerian Stock Exchange of major changes in the leadership of the Company. According to the Company, effective 1st January, 2016, Mr Bello Maccido, its pioneer Group CEO, will be leaving his position to become pioneer Chairman of the newly-licensed FBN Merchant Bank Ltd, while Mr UK Eke (MFR), currently Executive Director, South, First Bank of Nigeria Ltd will replace him as Group Managing Director-designate of FBN Holdings Plc.

Similarly, changes on the Board of First Bank of Nigeria Limited will see the current Chairman, Prince Ajibola Afonja, retire and Mrs Ibukun Awosika become the Chairman of the Bank.

Following a rigorous selection process driven by the Board and supported by Heidrick & Struggle, an internationally renowned executive search firm, Dr Adesola Adeduntan, the current Executive Director/CFO emerged as the Managing Director-designate, First Bank of Nigeria Ltd, while Mr Gbenga Shobo, the current Executive Director, Lagos & West, emerged as the Deputy Managing Director-designate.

This comes on the heels of the Group’s earlier notice of Mr Bisi Onasanya’s retirement as GMD/CEO of the Bank. These decisions have been ratified by the Board of Directors, subject to all necessary regulatory approvals and all the appointments will take effect from 1st January, 2016.