Dr. Adesola Adeduntan to Replace, Mr. Bisi Onasanya as First Bank CEO

First Bank of Nigeria Limited on Monday announced that its Chief Financial Officer and Executive Director, Dr. Adesola Adeduntan, would replace Mr. Bisi Onasanya as the Group Managing Director and Chief Executive Officer.

The announcement came on the heels of an earlier notice of Onasanya’s retirement as the GMD/CEO of the lender.

The development came along with major leadership changes at the bank’s parent company, FBN Holdings Plc.

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In a statement, the group said the pioneer Group CEO of FBN Holdings, Mr. Bello Maccido, would be leaving his position to become the Chairman of the newly-licensed FBN Merchant Bank Limited.

The current Executive Director, South, First Bank of Nigeria, Mr. UK Eke, will replace Maccido as the Group Managing Director-designate, FBN Holdings Plc.

The bank noted that the leadership changes would become effective on January 1, 2016.

Other changes will see the current Chairman, First Bank of Nigeria, Prince Ajibola Afonja, retire and be succeeded by Mrs. Ibukun Awosika.

Announcing the other changes, the bank said in the statement, “Following a rigorous selection process driven by the Board and supported by Heidrick & Struggle, the internationally renowned executive search firm, Dr. Adesola Adeduntan, the current Executive Director/CFO emerged as the Managing Director-designate, First Bank of Nigeria Limited, while Mr. Gbenga Shobo, the current Executive Director, Lagos & West, emerged the Deputy Managing Director-designate.

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