Fidelity Bank appoints Nneka Onyeali-Ikpe CEO-designate

Fidelity Bank Plc has appointed Nneka Onyeali-Ikpe as the Managing Director/Chief Executive Officer, effective January 1, 2021.

The bank made the announcement on Monday in a notice to the Nigerian Stock Exchange. The notice was signed by Ezinwa Unuigboje, the bank’s Company Secretary.

According to the statement, the appointment followed the impending retirement of the incumbent Managing Director/Chief Executive Officer, Nnamdi Okonkwo, from the Board of Directors of the bank, with effect from December 31, 2020 upon completion of his contract tenure.

“In compliance with the succession policy of the bank, the board has approved the appointment of Onyeali-Ikpe, the current Executive Director, Lagos and South West Directorate as the MD/CEO designate of the bank, to assume office with effect from January 1, 2021.

“The approval of the Central Bank of Nigeria has been obtained for the appointment,” said the statement.

It said the board also approved the appointment of Kevin Ugwuoke, the bank’s current Chief Risk Officer as Executive Director, Chief Risk Officer, subject to the approval of the CBN.

The statement said that Okonkwo was appointed to the board of the bank in April 2012 as an executive director and was subsequently appointed the MD/CEO on January 1, 2014.

Okonkwo, according to the bank, implemented a digital-led strategy which led to significant growth across key performance metrics and increased market share, with the bank currently ranked sixth in Nigeria on most performance indices.

The bank under his leadership, Fidelity successfully accessed the local and international markets through the issuance of N30bn Corporate Bonds in 2015 and $400m Eurobonds in 2017.

“The board seizes this opportunity to express sincere appreciation to Okonkwo for his significant contributions to the growth and development of the Bank during his tenure of the board,” the statement added.

It said Onyeali-Ikpe was appointed to the board of Fidelity in 2015 as an executive director and currently oversees the “Lagos and Southwest Directorate.”

She was credited with leading the transformation of the directorate to profitability and sustained its impressive year-on-year growth across key performance metrics.

The bank said Onyeali-Ikpe was an integral part of the current management team responsible for the remarkable increase in the bank’s performance in the last five years, noting further that the area under her direct responsibility, in the period, contributed over 28 per cent of the bank’s profit before tax, deposits and loans.

“Onyeali-Ikpe has over 30 years of experience across various banks including Standard Chartered Bank Plc, Zenith Bank Plc and Citizens International Bank Limited, where she held several management positions in Legal, Treasury, Investment Banking, Retail/Commercial Banking and Corporate Banking

“She has been involved in the structuring of complex transactions in various sectors including oil & gas; manufacturing, aviation, real estate and export.

“As an Executive Director at Enterprise Bank, she received formal commendation from the Asset Management Corporation of Nigeria (AMCON) as a member of the management team that successfully turned around Enterprise Bank.

“She holds Bachelor of Laws (LLB) and Master of Laws (LLM) degrees from the University of Nigeria, Nsukka and Kings College, London, respectively,” the bank’s statement explained.

Onyeali-Ikpe attended executive training programmes at Harvard Business School, the Wharton School University of Pennsylvania, INSEAD School of Business, Chicago Booth School of Business, London Business School and IMD, among others, according to the statement.

It added that Onyeali-Ikpe was currently undergoing a diploma programme in Organisational Leadership at Said Business School, Oxford University, UK.

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