Home Business Ladi Balogun sets to Head FCMB Group

Ladi Balogun sets to Head FCMB Group

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Having served as Group Managing Director of the commercial banking arm, FCMB Limited for 10 years, Mr Ladi Balogun will be stepping down, to assume the role of Group Chief Executive at FCMB Group Plc, the holding company which comprises of FCMB Limited, FCMB Capital Markets, CSL Stockbrokers and CSL Trustees.

According to a statement from the holding group, Ladi Balogun will be stepping down, effective March 20, 2017. Under Ladi Balogun leadership, FCMB Limited has undergone a successful transformation from a merchant bank to a top 10 commercial bank in Nigeria across key metrics. During this period the bank has emerged as a leader in consumer finance, agricultural banking and electronic banking.

The statement added that the banks franchise has grown to 4 million customers, 220 branches and a successful banking subsidiary in the United Kingdom. Meanwhile Mr Balogun will be succeeded as Managing Director of FCMB Limited by Adam Nuru, who is currently the executive director in charge of Business Development for the bank.

He previously served as Regional Director, in charge of Abuja and Northern Nigeria, where he was responsible for growing the banks Northern franchise to become the largest and most profitable region of the bank.

Adam Nuru has 28 years of banking experience, with 7 years spent with FCMB. He is a graduate of Ahmadu Bello University, Zaria, where he studied Business Administration and also attended management programmes at leading international educational institutions.

 

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