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Nigeria: UBA Restructures Into Nine Business Groups
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Vanguard (Lagos)
13 May 2008
Posted to the web 13 May 2008
Omoh Gabriel
UNITED Bank for Africa, (UBA) has announced a major restructuring of the bank into six Strategic Business Groups and three Strategic Support groups.
The exercise has led to the appointment of two Deputy Managing Directors and three new executive Directors. In the new structure of the bank all nine Strategic groups report to the Group Managing Director/CEO. The six Strategic Business Groups have responsibility for customer interface and business development and include: UBA Plc Nigeria-South, UBA Plc Nigeria-North, UBA Capital, UBA International, UBA Retail Financial Services and UBA Products & Segment Banking.
According to a statement signed by Mrs Faith Tuedor-Matthews, former Regional Bank Head, Abuja has been appointed Deputy Managing Director Nigeria-North.
Also appointed Deputy Managing Director is Phillips Oduoza who is to oversee UBA Nigeria-South, which covers the bank's core banking operations in the South, East and West regions of the country including Lagos State.
Mr. Chika Mordi formerly Executive Director, Investment & Asset Management is now the Chief Executive Officer of UBA Capital while Victor Osadolor, Executive Director has also been appointed Group Chief Finance Officer with responsibility for managing systems and processes that will promote efficiency and financial integrity.
Others appointed in the new arrangement are Emmanuel Nnorom, Executive Director and Group Chief Operating Officer. His portfolio includes, Information Technology (IT), Operations, Corporate Services, Marketing & Communications, Customer Service, UBA Properties, Human Resources and Regulatory Affairs
According to the statement Mr. Rasheed Olaoluwa has also been appointed Executive Director and CEO of UBA International, with responsibility to drive the Group's rapid global expansion strategy. In the same vein, Mr Godwin Ize-Iyamu who is an Executive Director has been assigned the portfolio of Wholesale Banking, UBA Nigeria-South.
According to the bank the exercise followed a 3-yearly strategic revalidation, carried out by it, working with McKinsey, the global management consulting firm, on its objective of becoming the leading financial services group in Africa by 2010.
The strategic repositioning identified three key outputs: a new operating structure; the appointment of two Deputy Managing Directors and 3 new Executive Directors; as well as the realignment of the portfolios of existing senior management - all aimed at ensuring exceptional service to the bank's over six million customers.
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Commenting on the exercise Mr. Tony Elumelu, GMD/CEO UBA Plc. Said "We are optimising the potential that exists in our great bank and those of our subsidiary and associated companies in order to remain large yet nimble and responsive to the ever-changing needs of our customers.
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