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Nuru replaces Balogun as FCMB boss

By on February 22, 2017

The First City Monument Bank Limited (FCMB Limited) has announced Mr. Adam Nuru as its new Group Managing Director effective March 20, 2017, in a new re-organization of the group.

Before his new appointment, Nuru was the executive director in charge of business development for the bank.

A statement from the FCMB Group Plc yesterday said Nuru will take over from Mr Ladi Balogun, who has served as Group Managing Director of the commercial banking arm, FCMB Limited for 10 years.

Balogun will now assume the role of Group Chief Executive of the holding company, FCMB Group Plc. The holding company comprises FCMB Limited, FCMB Capital Markets, CSL Stockbrokers and CSL Trustees.

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

He has 28 years of banking experience, with seven years spent with FCMB.

The new Group Managing Director is a graduate of Ahmadu Bello University, Zaria, where he studied Business Administration, and has attended management programmes at leading international educational institutions.