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Amangbo replaces Emefiele as Zenith Bank’s GMD

By on April 2, 2014

Zenith Bank Plc, the nation’s third-biggest lender by assets, has named long-serving Mr. Peter Amangbo as its new chief executive officer.

This came barely one week after its current Group Managing Director/CEO, Mr. Godwin Emefiele, was confirmed as the next Governor of the Central Bank of Nigeria by the Senate.

Amangbo, an executive director with the bank, will become the CEO with effect from June 1, 2014, according to a Nigerian Stock Exchange filing by Zenith.  The new CEO has been with the bank for more than 21 years.

Emefiele was appointed last month to replace suspended CBN Governor, Mr. Lamido Sanusi.

An economic and finance professional with experience in banking and academics, Emefiele was appointed few hours after the Presidency announced the suspension of Sanusi.

President Goodluck Jonathan had appointed Mrs. Sarah Alade, a deputy governor at the CBN, as the acting governor.

Emefiele, who took over from Mr. Jim Ovia at the helm of Zenith Bank, is credited with taking the bank to a higher level, with its rating as one of the top three banks in the country and ranked among 500 global brands.

According to a statement by the bank, the Board of Directors of Zenith has approved the appointment of Amangbo as the CEO-Designate of the bank effective June 1.

The statement said Amangbo had over two decades of experience with Zenith Bank, gaining experiences in corporate finance and investment banking, business development, credit and marketing, treasury, financial control and strategic planning and operations.

He was appointed to the board of the bank and its subsidiary companies in 2005.

He was a pioneer non-executive director of Zenith Bank United Kingdom. Before joining the banking industry, he was a senior consultant with PriceWaterhouse where he covered assignments in financial services, manufacturing and general commerce.

The statement read, “Amangbo brings the experience and expertise to meet the current competitive banking challenges that require constant innovation through proven leadership and team-building skills, an exceptional ability to drive product, process and customer service improvements and a talent for building partnerships with key business decision-makers. He also has demonstrable ability to motivate, mentor and lead talented senior professionals and to direct cross-functional teams.”

Amangbo, an alumnus of INSEAD and a fellow of the Institute of Chartered Accountants of Nigeria, holds a Masters of Business Administration degree from the Warwick Business School and a Bachelor of Engineering degree in Electrical and Electronics from the University of Benin.

He took courses in management at the Harvard Business School, Wharton School of Business and HSM – New York respectively.

 

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