Home Business Eke Retires As FBN Holdings’s Group Managing Director

Eke Retires As FBN Holdings’s Group Managing Director



The Board of FBN Holdings Plc (FBN Holdings) has announced that Mr. UK Eke, is poised to retire as Group Managing Director, FBNHoldings, Nigeria’s foremost banking and financial services group.

This follows the successful completion of his two-term tenure and his Notice of Retirement which he tendered August 10, 2021.

His retirement takes effect at the end of the current Financial Year on December 31, 2021.

Mr. Eke’s retirement follows from a 35 years’ career in financial services, strategy, auditing, consulting, taxation, process re-engineering and capital market operations.

He has spent almost 11 years in the FBNHoldings Group, serving l in the last six years as Group Managing Director.

He has been able to build sustainable synergies across the FBNHoldings Group, fostering collaborations to maximize business development opportunities with diverse stakeholders globally.

His tenure has witnessed an upsurge in value creation for shareholders and other stakeholders, with a diversified and healthier portfolio.

Remarkably, as at January 01, 2016, FBNHoldings share price was N5.13 and market capitalization of N175b trading at price to book of 0.29; whereas comparatively as at October 26, 2021, the price was N12.40, with market capitalization of nearly N445b and price to book of 0.58.

Eke assumed office as Group Managing Director, FBN Holdings Plc on January 1, 2016.

He joined the Board of FirstBank, an FBN Holdings Company, in 2011 as Executive Director, Public Sector South, with responsibility for all state and federal government relationships in addition to tertiary and health institutions in the South.

He later became Executive Director, South, supervising all retail, commercial and government accounts domiciled in the South-South and South-East regions of Nigeria, with concurrent responsibility for Private Banking and Wealth Management.

His sound managerial and motivational skills, coupled with his vast experience, helped develop FirstBank’s businesses within the Public Sector, Retail and Private Banking Groups.

In 2017, he was appointed to the board of Nigeria Sovereign Investment Authority (Sovereign Wealth Fund), where he chaired the Externally Managed Investment Committee among other critical assignments including helping the Authority to drive capital raise and other capital market engagements.



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