4 January 2013

Nigeria: Keystone Bank Adopts New Corporate Structure

Keystone Bank Limited has said its board of directors recently approved a new corporate structure for the financial institution.

A statement from the Head, Corporate Communications of the bank, Mr. Mohammed Ciroma, explained that the new structure was a hybrid of regional and functional components, aimed at forcefully driving its business in 2013 and beyond.

The statement added: "The new structure will be supported by the Executive Directors of the bank as follows: Lagos and West Directorate - Mrs. Yvonne Isichei; Abuja and North Directorate - Mallam Shehu Abubakar; South Directorate - Mrs. Sally Uwechue-Mbanefo; Operations and Technology Directorate - Mr. Ademola M. Adewale, while the Acting. Managing Director/Chief Executive Officer, Dr. Shehu Muhammad will remain the fulcrum of this highly responsive team."

Keystone Bank also said it had also embarked on a realignment of other corporate goals to enable it realise its objective as well as to deliver consistent superior performance.

This, it said, included the recent promotion of 16 senior members of staff of the bank.

"The bank also provided the opportunity for about five per cent of its workforce to take advantage of early severance package. The promotion of the senior staff follows similar exercise that elevated considerable percentage of other cadre of the bank's staff in March, 2012.

"The promotion as approved by the board is effective January 1, 2013 and affects senior staff members that have shown consistent high performance during the period under review. The staff members were eligible for this promotion as at July 31, 2012," it added.

Speaking on the exercise, Muhammad congratulated those affected and urged them to remain inspired to deliver higher levels of performance.

"We also expect that the results of this corporate restructure exercise will further reinforce and culminate in consolidating our performance culture and challenge all other staff to excel in their functions" he further emphasised.

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