Business

Outgoing Wema Bank CEO on terminal leave

Published

6 years ago

July 3, 2018

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The outgoing Managing Director and Chief Executive Officer of Wema Bank Plc., Segun Oloketuyi, is on terminal leave and will subsequently retire with effect from September 30 2018 following almost a decade at the helm of the Bank, National Daily has gathered.

Oloketuyi, who will be succeeded by Ademola Adebise, was named Managing Director/Chief Executive Officer of Wema Bank Plc in June 2009, with the task of returning the Bank to profitability following the 2008 banking crisis which saw the collapse of many banks.

At the time, Wema Bank had negative capital in excess of N66 billion and was declared a bank in grave financial situation by the regulatory authority.

As part of a turnaround plan which Mr. Oloketuyi led, the Bank regained its national banking license from the Central Bank of Nigeria, which has allowed it to expand to the Northern and Eastern parts of the country, significantly increasing its market share and customer base in the process.

The outgoing Wema Bank MD prioritized the use of technology to deliver improved service to customers, culminating in the launch of ALAT, which offers branchless banking services.

The appointment of Mr. Ademola Adebise, currently Deputy Managing Director, as Wema Bank’s new Managing Director/CEO is subject to the approval of the Central Bank of Nigeria.

Adebise has been part of the Bank’s Executive management team since 2009 and has played a pivotal role in the execution of the Strategic turnaround plan of the Bank.

He has over 28 years’ experience in the banking industry (inclusive of 4 years in management consulting), and has worked in various capacities in Information Technology, Financial Control & Strategic Planning, Treasury, Corporate Banking, Risk Management and Performance Management.

He is an alumnus of the Advanced Management Program (AMP) of the Harvard Business School and a holder of a Bachelor’s degree in Computer Science from the University of Lagos. He also holds a Master’s degree in Business Administration (MBA) from the Lagos Business School.

Adebise is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN). He is also an Associate of the Chartered Institute of Taxation and Computer Professionals (Registration Council of Nigeria). He is an honorary Member of the Chartered Institute of Bankers of Nigeria (HCIB) and a member of the Institute of Directors.

The Board of the Bank expressed confidence that Adebise’s appointment will lead to the continued transformation and growth of the Bank as it positions itself as a market leader in Nigeria’s retail banking segment through technology and innovation.