LAGOS, NIGERIA – October 1, 2018 – Wema Bank PLC (Bloomberg: Wema NL) (“Wema” or “the Bank”)
● Adebise becomes MD/CEO from October 1, 2018
● Was in Acting Capacity for three months while Oloketuyi was on terminal leave
● Moruf Oseni appointed Deputy Managing Director.
Wema Bank Plc. hereby announces that Ademola Adebise has been made the Managing Director/Chief Executive Officer of Wema Bank following the retirement of Segun Oloketuyi in September. He was initially appointed the Acting Managing Director in July after Oloketuyi proceeded on terminal leave in July 2018. Adebise assumes the new role today, October 1, 2018.
Prior to this appointment, he was the Deputy Managing Director of Wema Bank, a role he held since January 2017.
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.
Before joining Wema Bank Plc. Mr. Adebise was the Head, Finance and Performance Management Practice at Accenture (Lagos Office), where he led multiple successful projects for banks in Business Process Re-engineering, Information Technology and Risk Management.
A member of the Board of Directors for AIICO Insurance Plc, AIICO Pensions, Nigerian Interbank settlement system NIBSS, and Wema Bank Plc., Adebise 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 of Business Administration (MBA) from the Lagos Business School. He is a Fellow of the Institute of Chartered Accountants of Nigeria ICAN and an Honorary Member of the Chartered Institute of Bankers.
Wema Bank Plc. has also announced the appointment of Moruf Oseni as its Deputy Managing Director, effective October 1, 2018. Since joining the Wema Bank board in 2012, Oseni has contributed immensely to growing the Bank’s retail business. Until his appointment, he was the Executive Director in charge of Retail, managing assets including ALAT, Nigeria’s first digital bank.
Both appointments have been ratified by the Central Bank of Nigeria.
“In Ademola and Moruf, the Bank has two financial veterans with a wealth of experience in senior executive positions across a wide range of countries,” said Babatunde Kasali, the Chairman of Wema Bank. “With their proven track record in the financial services sector, the board is confident that their appointments will lead to the continued transformation of the Bank as it positions itself as a market leader in Nigeria’s retail banking segment through technology and innovation.”
Moruf Oseni brings a wealth of banking and non-banking experience to his new role. Before joining Wema Bank, Moruf was the CEO of MG Ineso Limited, a principal investment and financial advisory firm. Prior to MG Ineso, he was a Vice President at Renaissance Capital, where he was responsible for capital markets origination and execution for Sub-Saharan African corporates and financial institutions. He was also an Associate at Salomon Brothers/Citigroup Global Markets in London, where he was involved in debt capital markets origination for European financial institutions.
Oseni holds an MBA from the prestigious Institut European d’Administration des Affaires (INSEAD) in France, a Masters in Finance (MiF) from London Business School, London and a BSc. in Computer Engineering from Obafemi Awolowo University (OAU), Ile-Ife, Nigeria. He is also an alumnus of King’s College, Lagos.
Oseni is a member of the Institute of Directors (IoD), an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria (CIBN) and a member of Nigerian Institute of Management (NIM). He serves on the board of Continental Broadcasting Services Limited and is a member of the Lagos State Economic Advisory Committee.
FOR FURTHER INFORMATION:
WEMA Bank Plc
Funmilayo Falola (Head, Brand and Marketing Communications) +234 (1) 4622632
Tunde Mabawonku (Chief Finance Officer)
Notes to editors:
About WEMA Bank Plc
Wema Bank, the pioneer of Nigeria’s first fully digital bank ALAT, offers a range of retail, SME banking, corporate banking, treasury, trade services and financial advisory to its customers. Wema Bank operates with a National Banking Licence, with a network of over 136 branches and service centres across Nigeria, backed by a robust ICT platform.
More information can be found at www.wemabank.com/investorrelations