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Union Bank appoints new chairman, directors

By on February 27, 2013

One of Nigeria‘s leading financial institutions, Union Bank of Nigeria Plc had on Tuesday announced the appointment of a new chairman and non-executive directors to its Board of Directors.

A statement by the bank said the new appointments were aimed at “bringing additional depth of skills and experience to the Board as the bank enters its next phase of growth and modernisation in its continuous effort to remain one of Nigeria’s leading financial institutions.”

Senator Udo Udoma, who is currently the Senior Partner of Udo Udoma and Belo-Osagie, a corporate law firm he established in 1983, takes over from Mr. Richard Kramer as chairman of the board.

Udoma is also the Chairman, UAC Nigeria Plc; a director of Unilever Nigeria Plc and Japan’s Honorary Consul in Lagos.

He served as a senator from 1999 to 2007 and at various times served as Special Adviser to the Minister of Petroleum and Mineral Resources; non-executive Chairman, Securities and Exchange Commission; and Chairman, Federal Government Task Force to promote the passage of the Petroleum Industry Bill into law.

The non-executive Directors are John Botts, representing Corsair Capital; Cyril Odu, representing Africa Capital Alliance; Douglas Munatsi, representing Africa Development Corporation; and James Macarthur, representing the Richard Chandler Corporation.

Botts is a senior advisor with Allen & Company, London; Corsair Capital, London; Director and Chairman, United Business Media Limited and Botts and Company Limited, a London-based corporate finance and private equity investment company founded in 1987 in association with Allen and Company in New York