Stanbic IBTC Holdings Plc has unveiled key changes in executive positions among the member companies in the group, with Dr. Demola Sogunle, emerging the new Deputy Managing Director, Stanbic IBTC Bank Plc.

Sogunle, until this appointment, was the Chief Executive Officer of Stanbic IBTC Pension Managers, a position held since August 19, 2011.

Also, Yewande Sadiku and Babatunde Macaulay have been appointed as Executive Directors, Corporate and Transactional Banking and Personal and Business Banking for Stanbic IBTC Bank respectively.

As a replacement for Sogunle, Eric Fajemisin has emerged the Chief Executive Officer of Stanbic IBTC Pensions Manager, while Bunmi Dayo‐Olagunju takes over Stanbic IBTC Asset Management.

Sogunle, expected to strengthen the executive team as the bank consolidates its growth strategy, was formerly the Head of Treasury and Financial Services for the bank for over seven years.

Prior to his appointment as Chief Executive of the Group’s Pension business, he was Stanbic IBTC Bank’s Head of Risk as well as its Chief Compliance Officer.

On the other hand, Fajemisin, as the new helmsman of Stanbic IBTC Pension Managers, will be responsible for the overall management and strategic direction of the pension business, as well as drive the formulation and execution of specific strategies and performance.

He has 25 years’ banking experience spanning investment banking, commercial banking, business development and business support.

His previous roles in banking include Head, Investment Banking Division in Chartered Bank; and Head, Investment Management and Business Development for Stanbic IBTC Pension Managers.

Dayo‐Olagunju, prior to her appointment as Chief Executive of Stanbic IBTC Asset Management, served in various capacities within the Stanbic IBTC Group, including Chief Financial Officer at Stanbic IBTC Asset Management (2008), Group Head; Budgets and Budgetary Controls at IBTC Chartered Bank PLC (now Stanbic IBTC Bank between 2006 and 2007, and as Group Financial Controller of Investment Banking & Trust Company Ltd (2003 to 2005).

She also previously served on the Board of Stanbic IBTC Asset Management between January and June 2008 and was Head, Benefits Administration atStanbic IBTC Pension Managers until her appointment as an Executive Director of Stanbic IBTC Asset Management Limited.

Sadiku, who previously held the position of Chief Executive Officer of Stanbic IBTC Capital, a member of the Stanbic IBTC Holdings, will in her new role as Executive Director, Corporate and Transactional Banking Division, ensure that the bank continues to provide topnotch services in corporate finance advisory across key sectors of the economy, including oil and gas, power, telecommunications, manufacturing, construction, collections and payments, and consummation of big ticket deals.

Sadiku, with over 20 years experience in investment banking, has been involved in assignments for clients in virtually every sector of the Nigerian economy and has structured several landmark transactions, including some of the largest capital raising activities in the history of the Nigerian capital market.

Macaulay joined Stanbic IBTC Bank as Head of Transactional Products and Services, West Africa and responsible for the business in Nigeria, Ghana, Angola and Democratic Republic of Congo in April 2012.

Before joining Stanbic IBTC, he was Head Transaction Products and Services at First City Monument Bank in Nigeria and was responsible for transaction banking, alternate channels, structured commodity and trade finance, and value chain financing, garnering over 19 years’ experience in the banking industry and the manufacturing sector.

The Chief Executive Officer, Stanbic IBTC Holdings, Mrs. Sola David‐Borha, described the appointments as part of the group’s succession planning process, underscored by the policy of growing its people and giving equal opportunity to all employees of the Group.

“These appointments, which take immediate effect having secured all required regulatory approvals, will benefit clients in our various businesses immensely as these executives bring to bear an unmatched combined wealth of experience and sterling track records in their new positions.

“This will, no doubt, help our Group maintain its lead in corporate and transactional banking, wealth management, as well as the personal and business banking space,” David‐Borha said.

Besides, the group has appointed Inwang Akpan and Titi Ogungbesan as Head, Transactional Products and Services, to replace Babatunde and Chief Executive Officer of Stanbic IBTC Stockbrokers respectively.