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Diamond Bank extends GMD’s tenure, appoints two DMDs

By on April 29, 2014

Diamond Bank Plc has announced the extension of the tenure of its Group Managing Director and Chief Executive Officer, Dr. Alex Otti, for another three years with effect from March 2014.

The bank also said it had appointed Caroline Anyanwu and Uzoma Dozie, who are both Executive Directors at the bank, as Deputy Managing Directors.

According to a statement by the lender, this is the first time it will appoint deputy managing directors since it was established about 23 years ago.

In addition, the bank promoted 473 other members of staff across the bank to higher positions following the conclusion of staff performance evaluation for 2013.

The bank said the extension of Otti’s tenure was in recognition of the impact of his leadership on bank since March 2011.

In his first three years, Otti focused on steadying the bank which was reeling from the effects of the global financial crises of 2008/2009, and had declined in size, and lost market share to competition.

The bank was also confronted with the challenge of raising additional capital to meet the new Capital Adequacy Ratio required for the international banking licence by the Central Bank of Nigeria.

The statement further said, “These efforts have started to pay off.

 

 

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