The Board of Directors of Skye Bank Plc has appointed the Deputy Managing Director of the bank, Kehinde Durosinmi-Etti, as the Group Managing Director designate. He will succeed the incumbent Chief Executive Officer (CEO), Akinsola Akinfemiwa, who will retire at the end of July, following the Central Bank of Nigeria’s directive.
The board also appointed Timothy Oguntayo as the new Deputy Managing Director for the bank.
This development is coming few weeks after the United Bank for Africa Plc and Zenith Bank Plc, have named their new chief executive officers to takeover in July 2010 based on the deadline given by the Central Bank of Nigeria.
Mr. Akinfemiwa who has spent more than 10 years as the Chief Executive Officer in the defunct Prudent Bank and Skye Bank will retire from the banking career after over 30 years in the sector.
The new helmsman, Durosinmi-Etti is described as a seasoned banker with many years of cognate banking experience, spanning banking operations, treasury management, investment banking, project financing and commercial banking.
A 1982 graduate of Economics from the University of Ibadan, Durosinmi-Etti is also a fellow of the Chartered Association of Certified Accountants (ACCA), United Kingdom. After a stint in audit practice, he started his banking career in 1987 when he joined the Nigerian-American Merchant Bank Limited before moving to Midas Merchant Bank as Head of Treasury and Assistant General Manager in charge of Money Market Division. A statement from the bank said Durosinmi-Etti had worked at Lagos Building and Investment Company Limited before joining the then Eko International Bank Plc where he rose to become the Managing Director/CEO before the consolidation programme of 2005.
His deputy, Mr. Oguntayo, who is presently an Executive Director at Skye Bank, has over 28 years of banking experience. His experience spans from corporate finance, credit and risk management, corporate banking, investment banking, project finance and commercial banking.
The Board expressed confidence that the incoming leadership of the management team would build on the growth achieved by Akinfemiwa and his team, as well as consolidate and expand the frontiers of the bank.