Don't Miss

Skye Bank appoints Oguntayo CEO-designate

By BusinessNews Staff on April 17, 2014

The board of directors of Skye Bank Plc has approved a successor to the incumbent Group Managing Director/Chief Executive Officer, Mr. Durosinmi-Etti who will retire from the bank on July 31, 2014 at the end of his tenure.

He is Mr. Timothy Oguntayo, who is currently the bank’s Executive Director responsible for the supervision of its Corporate and Investment Banking Group, Commercial Banking in the South – west and all its international banking subsidiaries.

A statement from the bank yesterday explained that Durosinmi-Etti had notified the board of his desire not to seek renewal of his four year tenure at its expiration.

But THISDAY gathered that the Skye Bank boss will serve out his 10-year maximum term as a bank CEO this year.

Durosinmi-Etti had held the position of the MD/CEO of the defunct EIB International Bank from July, 2002, to 2006 when the bank merged with four other financial institutions to form Skye Bank.
He became the managing director of Skye Bank on August 1, 2010.

Meanwhile, Skye Bank also appointment Mrs. Amaka Onwughalu as the Deputy Managing Director- designate of the bank.

Both appointments are subject to regulatory approvals.
The bank, in the statement, said, the board thanked Durosinmi-Etti for his service to the institution from the period of consolidation, first in the capacity of deputy managing director, and subsequently as GMD/CEO.

It noted that under Durosinmi-Etti, the bank recorded significant progress in both quantitative and qualitative terms.

“The appointment of Timothy Oguntayo is consistent with the bank’s tradition and succession strategy of grooming leaders from within.

“Timothy is an alumnus of the prestigious INSEAD, Fontainebleau in France and a fellow of the Chartered Institute of Bankers of Nigeria. He is also an Associate of The Institute of Chartered Accountants of Nigeria. He has over two decades of banking experience in Corporate Finance and Investment Banking, Business Development, Credit and Marketing, and Operations.

“Timothy was appointed to the Board of the Bank and its subsidiary companies in 2009. He was the pioneer MD/CEO of Skye Financial Services Limited (the investment banking arm of Skye Bank) before the Bank’s divestment from it in 2012.

“He equally served on the Board of Skye Stockbrokers Limited and Law Union & Rock Insurance Plc. He is currently a Director on the Board of Kakawa Discount House Limited,” the statement said.
On the other hand, it said Onwughalu was appointed to the Board on November 30, 2008 as an Executive Director.

“She is an astute banking professional with over 25 years’ experience and expertise in Commercial Banking, Retail Banking, Treasury Management and Banking operations amongst others,” it added.

[This Day]

headline