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Atedo Peterside appointed to Standard Bank Group’s board

By BusinessNews Staff on August 26, 2014

The Chairman of Stanbic IBTC Plc, Mr. Atedo Nari Atowari Peterside, has been appointed as a non-executive director to the board of Standard Bank Group and the board of Standard Bank of South Africa Limited.

By the appointment, he emerged the first blackman outside the Republic of South Africa to be appointed to the board of Standard Bank.

Standard Bank Group in a statement yesterday, said Peterside’s appointment took effect from August 22.

Standard Bank Group is the largest African banking group by assets and earnings, offering a full range of banking and related financial services.

Peterside obtained a B.Sc. degree in Economics from The City University, London, and M.Sc. in Economics from London School of Economics and Political Science and holds an Honorary Doctorate of Science.

He is currently the chairman of Stanbic IBTC Bank Plc, which is part of the Standard Bank Group and a director of Flour Mills of Nigeria Plc, Nigerian Breweries Plc, Presco Plc, Unilever Nigeria Plc and the chairman of Cadbury Nigeria Plc.

He was the chairman of the Committee on Corporate Governance of Public Companies in Nigeria.

Commenting on the appointment, the Chief Executive of Stanbic IBTC Holdings Plc, Mrs. Sola David-Borha, remarked that she was very pleased that Peterside, chairman and founder of Stanbic IBTC Bank Plc, is joining the board of directors of Standard Bank Group Limited as well as the board of directors of the Standard Bank of South Africa Limited.

“The Board and Management of Stanbic IBTC wish him all the best as he takes on this additional role overseas.

”As you are aware, Standard Bank is the biggest bank in Africa. Our strategy is to build the leading Africa-focused financial services organisation using all our competitive advantages to the full. We are focused on delivering superior sustainable shareholder value by serving the needs of our customers through first-class, on-the-ground operations in chosen countries in Africa.

“We will also connect other selected emerging markets to Africa and to each other, applying our sector expertise, particularly in natural resources, globally. Our key differentiator is people who are passionate about our strategy wherever they are based in the world.”

On his part, Peterside said he would shed some of his private sector responsibilities in Nigeria in order to discharge his new overseas role effectively.

[This Day]

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