Nigeria: GTBank completes reorganization to Holding Company, as Sola Oyilola chairs board of new GTCO
Guaranty Trust Bank Plc has announced the completion of its reorganisation to a Holding Company Structure with aims to strengthen its long-term competitiveness and growth prospects.
In a notice at the Nigerian Exchange, the bank said under the terms of the re-organisation, a new operating company Guaranty Holding Company Plc (GTCO) has been established.
The note said the board of GTCO was constituted and the board of GTBank was reconstituted following the retirements of Mrs Osareting Demuren (Chariman); Mr Adebayo Adeola (Non-Executive Director); Mr Demola Odeyemi (Executive Director); and Mr Bolaji Lawal (Executive Director).
“GTCO is also pleased to announced its new board of directors as well as changes to the board of its banking subsidiary, GTBank,” the note said.
“GTCO’s board will comprise Mr Sola Oyilola as Chairman, Mr Segun Agbaje as the Group Chief Executive Officer, Mrs Cathy Echeozo as Non-Executive Director, Mr Suleiman Barau and Mrs Helen Bouygues as Independent Non-Executive Directors and Mr Adebanji Adeniyi as Executive Director.
“GTbank board will comprise Mr Ibrahim Hassan as Chairman, Mrs Miriam Olusanya as Managing Director, Mr Olabode Agusto as Non Executive Director, Ms Imoni Akpofure ans Mrs Victoria Adefala as Independent Non-Executive directors, Mr Jide Okuntola as Deputy Managing Director and Mr Haruna Musa as Executive Director.”
All appointments were said to have been approved by the Central Bank of Nigeria.
Commenting on the completion of the corporate re-organisation, Mr Segun Agbaje said: “We believe that a Holding Company Structure will allow us take advantage of new business opportunities in the emerging competitive landscape and strengthen our earnings base.
“We are very excited to get started on the next phase of our incredible journey to driving Africa’s growth by making end-to-end financial services easily accessible to every African business by leveraging technology and strategic partnership.
“As a bank, we were always looking to meet every customer need; with our corporate re-organisation, we will be able to do more to help our customers thrive in this new world of digital technologies and unprecedented possibilities.
“Whilst we are evolving as an organization, we remain committed to our founding values which have endeared our brand to millions of people across Africa and beyond and which continues to drive our financial success.
“As a proudly African and truly international brand, we will continue to live by these values-of excellence, hard work and integrity, even as we create faster, cheaper, safer and more diverse products for people and businesses of varied types and sizes.”