Fidelity Bank retires 3 executive directors

By The Citizen
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Fidelity Bank Plc has announced the retirement of three of its Executive Directors - IK Mbagwu, Executive Director, Lagos & West Directorate, Onome Olaolu, Executive Director, Risk Management and John Obi, Executive Director, Corporate Banking.

The retirement of Mrs. Olaolu and Mr. Obi takes effect from June 30, 2015, while Mr. Mbagwu proceeds on July 31, 2015.

The retirements are in accordance with the Bank's Human Capital Policy and predicated on attainment of retirement age.

Mr. IK Mbagwu rejoined Fidelity Bank as the Executive Director, Operations, Technology & Shared Services in 2006. IK started his career as a tax senior in Arthur Andersen.

He moved on to Nigerian American Bank Limited (Bank of Boston) before joining the then Fidelity Union Merchant Bank Limited in 1993, rising to the position of General Manager. In 2001 he moved on to Citizens International Bank as an Executive Director.

Mrs. Onome Olaolu was appointed to the Board as the Executive Director, Risk Management in July 2009. She had worked at Texaco Nigeria Plc. from where she moved to the then Nigerian Intercontinental Merchant Bank Limited (1990).

In 1994, she moved to Metropolitan Merchant Bank Limited before joining Fidelity Bank in 1997 as a Senior Manager, rising to the position of General Manager, Risk Management Sector in 2006.

Mr. John Obi was appointed to the Board as the Executive Director, Corporate Banking in April 2012. He joined the Bank in 2000 and has over 28 years industry experience having served in various capacities in Corporate Banking, Investment Banking and the Public Sector.

He was the General Manager, Corporate Banking and the pioneer Managing Director of Fidelity Pension Managers Limited (FPML), a former subsidiary of Fidelity Bank.

While paying tribute to the retiring Directors, the Managing Director/Chief Executive Officer of Fidelity Bank Plc.  Nnamdi Okonkwo noted the passion, commitment and experience they brought to the executive management and thanked them for their immense contributions to the overall growth of the Bank.

He described them as distinguished members of the Fidelity family and praised them for working assiduously hard to develop the Bank from its merchant banking origin to a respected commercial banking brand.

Commenting on their successors, Mr. Okonkwo confirmed the recruitment of a new Chief Risk Officer who has been understudying the outgoing Executive Director, Risk Management in the last 3 months.

The Bank will be announcing the successors of the other two Executive Directors after receiving final regulatory approvals.

The Board and Management of Fidelity Bank wishes the retiring Directors success in their future endeavours.