Sterling Bank CEO And Founding Director, Yemi Adeola Retires

Sterling Bank Plc have announced that its founding Director and long-serving Chief Executive Officer (CEO), Yemi Adeola has notified the Board of Directors of his desire to retire with effect from 1 April 2018 after over 14 years of service on the Board. He will be succeeded by Abubakar Suleiman (Abu), currently Executive Director, Finance & Strategy, a role Abu has served in since May 2012.

Yemi’s banking career started in the then Nigeria International Bank Ltd now Citibank Nigeria Ltd in 1988 where he served in various capacities and rose to the position of Executive Director in 1998, one of the youngest officers and indeed one of the first Nigerian nationals to be appointed in that capacity with the Citigroup Inc’s Nigeria unit between February 1998 and May 2003. In July 2003, Yemi became the Deputy Managing Director 'DMD' of our legacy component, Trust Bank of Africa Limited. He was instrumental to the formation of Sterling Bank in 2006, served as Integration Director in the immediate post-merger phase and up until 2007 as Executive Director covering Commercial & Institutional Banking and later Corporate Banking prior to becoming CEO.

Mr. Yemi Adeola, CEO said:

‘Our Bank has grown materially in all respects over the past decade moving from being a marginal player on the fringes, to an established operator trusted by millions of people today. The achievements highlighted by the Chairman in his remarks have required huge personal sacrifice on the part of many people. I am extremely grateful to all of them for their support and know that Abu and his team can continue to count on this support in the months and years to come.

I would like to specifically thank our customers, the shareholders, the board, our staff and regulators amongst others for their support and goodwill. Sterling Bank is well set for the future and I believe that now is the right time for me to step down and pass on the baton to Abu. As a Bank, we have done well, are doing well and have great prospects for the future. Our institution has the resources both human and material to look forward and write a new chapter in its history. There are exciting choices for the new generation of leaders to make, especially with the increasing integration of Nigeria into the global economy, an increasing need for economic diversification in the face of a post-fossil fuels world, and the transformational impact of digital technologies on financial services. I am especially pleased that the board has chosen a successor from our internal talent pool further affirming the quality of senior leadership within the company and the long-term sustainability of our business model. I leave in place a team that has been central to what we have achieved over the past decade and have no doubt that they will successfully lead our institution to an even stronger position in the financial services market in the near-future.’

http://www.naijachiefwhip.com/2018/01/sterling-bank-ceo-founding-director-yemi-adeola-retires.html

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