A14
BUSINESS DAY
C002D5556
Friday 23 November 2018
PROFILES OF THE 2018 BANKING AWARDS NOMINEES Category: Best Bank CEO of the Year
Demola Sogunle CEO Stanbic IBTC Bank
Demola Sogunle, B.Sc, M.Sc, Ph.D., MBA has been the Chief Executive of Stanbic IBTC Bank plc since January 25, 2017. Sogunle served as Deputy Chief Executive of Stanbic IBTC Bank Plc. until January 25, 2017. Demola holds a first class honours degree in Agricultural Science and a Ph.D. in Land Resource Evaluation and Management, both from the University of Ibadan, Nigeria. He also holds an MBA in Banking and Finance from ESUT Business School, Nigeria and a Treasury Dealership Certificate from the Chartered Institute of Bankers
of Nigeria (CIBN). He is a member of the Global Association of Risk Professionals. Stanbic IBTC which was created in 1992 is a universal bank that has consolidated its position in Nigeria as a diversified business with a proven track record. The group focuses on the three key businesses - Corporate and Investment Banking, Personal and Business Banking and Wealth Management that leverage the skills, economies of scale and synergies that come from being part of an international group, and our excellent Nigerian pedigree. In 2017, the bank had total revenue of N127.7 billion with a profit after tax of N28.8 billion naira which led to 91.90 percent increase over N15.03 billion in 2016. Having a 34.10 percent increase in total asset of N1.3 trillion in 2017 from N993.8 billion in 2016, the bank is committed to providing endto-end financial services to clients and delivering sustainable long term value to shareholders through first class innovative operations and customer-focused people.
Adesola Kazeem Adeduntan CEO First Bank Nigeria
Adesola Kazeem Adeduntan, a former Director and pioneer Chief Financial Officer/Business Manager of Africa Finance Corporation is a Nigerian business executive. He is currently the Managing Director/ Chief Executive Officer of First Bank of Nigeria Limited and Subsidiaries since January 2016. He obtained a Doctor of Veterinary Medicine (DVM) degree. He also holds a Master’s Degree in Business Administration (MBA) from Cranfield University Business School, United Kingdom which he attended as a distinguished “British Chevening Scholar.” Over the course of his sterling career, he has garnered diverse expertise in Treasury and Financial Management, Risk Management, Accounting and
Internal Controls, Corporate Governance, Corporate Strategy Development and Implementation, Corporate Finance, Business Performance Management, Financial Advisory, Investors, Regulators and Rating Agencies Relationship Management, Deployment and Management of Information Technology, and Compliance. First Bankis a Nigerian multinational bank and financial services established in 1894 operates a network of over 750 business locations across Africa, the United Kingdom and representative offices in Abu Dhabi, Beijing and Johannesburg . It was set up to capture trade-related business between geographies. The bank thrived under Adesola even in 2017 as it had a total asset of N4.95 trillion which translated to an increase of 10.75 percent from N4.47 trillion in 2016. With a total revenue of N407.9 billion in 2017 owing to a 6.17 percent decrease from N434.7 billion in December 2016, First bank had a spontaneous growth of 337.42 percent in its profit after tax from N11.8 billion in 2016 to N51.5 billion in 2017.
Herbert Onyewumbu Wigwe is a banker and an entrepreneur. He is currently CEO and Group managing director of Access Bank Plc since January 2014. Wigwe has a degree in accountancy from the University of Nigeria, an MA in Banking and Finance from the University College of North Wales (now Bangor), an MSc in Financial Economics from the University of London,
and is an Alumnus of the Harvard Business School Executive Management Program. Wigwe began his career at Coopers & Lybrand and has since then helped develop some of Africa’s biggest companies in the construction, telecommunications, energy, oil and gas sectors and banking institutions. U n d e r W i g w e, A ccess Bank received the “Outstanding Business Sustainability Achievement Award” at the 2017 Karlsruhe Sustainable Finance Awards in Germany. In 2017, Access Bank recorded total asset of N4.10 trillion, amounting to 15.07 percent increase in asset from 2016. With a total equity of N515.4 billion in December 2017 from N454.5 billion in 2016, the bank had 13.41 percent growth therein but due to the economic conditions, had a decline of 13.23 percent in its profit after tax from N71.4 billion in 2016 to N62.0 billion at the year end of 2017.
CSL Stockbrokers City Securities Limited (CSL) is the security agent and a wholly owned subsidiary of the FCMB Group Plc. As of November 30, 2009, CSL Stockbrokers Limited operates as a subsidiary of FCMB Group Plc. The company was licensed by the Securities Exchange Commission to carry on the business of trust services. CSL Stockbrokers Limited was incorporated on September 27, 1977, and commenced business in January 1978 providing, individual, corporate and
government clients, with high quality professional and personalized financial and investment services. Since inception, CSL has played a notable role in the development of the Nigerian capital market by arranging public issues and private placements of equity and debt of leading Nigerian companies. CSL stockbrokers is one of the reputable and recognised advisers of choice to Nigeria’s leading companies and public institutions, and has been involved in landmark transactions, in Nigeria, over the past three decades. CSL service include but not limited to financial advisory, debt and equity capital raising including initial public offerings, mergers and acquisitions, infrastructure and project finance. CSL Stockbrokers offers wealth and investment management services through First City Asset Management Ltd (FCAM). FCAM was established in 1997 to provide wealth and investment management services to individual and institutional clients, globally. The company is a wholly-owned subsidiary of CSL Stockbrokers Limited, a member of FCMB Group plc.
Herbert Onyewumbu Wigwe CEO Access Bank
Category: Stockbrokers of the year
Meristem Stockbrokers Limited Meristem Stockbrokers Limited is a subsidiary of Meristem Securities Limited and is licensed by the Securities and Exchange Commission (SEC) in Nigeria and is also a member of the Nigerian Stock Exchange (NSE). As a stockbroking firm, Meristem Stockbrokers provides a wide range of products and services to investors across Africa, Europe and the United States of America. Some of its innovative products include: MeriTrade, MeriBoss, Meri-Rev and MeriGame. Meristem Stockbrokers Limited has continued to achieve remarkable feats in the past year. On De-
cember 18th, 2017, Meristem Stockbrokers Limited set a new chapter in the history of the Nigerian Stock Exchange, by being responsible for the largest single trade on the Exchange since inception. In 2017, The MeriGame product was launched in a bid to provide the platform to budding investors with an opportunity to learn how to trade stocks under real market conditions. In addition, The MeriTrade product is acknowledged to be the first online stock trading platform in Nigeria which allows investors to buy and sell stocks on the Nigerian Stock Exchange on the go from the comfort of their homes and offices.
Stanbic IBTC Stockbrokers Stanbic IBTC Stockbrokers Limited (SISL) is a wholly-owned subsidiary of Stanbic IBTC Holdings Plc, and a member of The Standard Bank Group set up to provide world class stockbroking services to local as well as foreign investors in the Nigerian Capital Market. SISL is a member of The Nigerian Stock Exchange (NSE) and is licensed by The Securities and Exchange Commission (SEC) in Nigeria. It is the largest stockbroking house in Ni-
geria with a market share of over 15.85 percent of the value of shares traded on the floor of the Nigerian Stock Exchange in year 2017 trading results. We have also successfully acted as the stockbroker to major primary market transactions in Nigeria. Stanbic IBTC Stockbrokers Limited received NSE CEO’s award as the best dealing member firm on Exchange in 2017. SISL maintained equity investment of N109 million and a total income of N1.4 billion at the year end of 2017. The bank had 514.63 percent increase in profit after tax from N123 million in 2016 to N756 million in December 2017. Growth was evident in SISL with an appreciable 277.93 percent increase in total assets of N9.4 billion for the year ended 31 December 2017 from the preceding year.