1 April 2014

Nigeria: Zenith Bank Appoints Amangbo to Replace Emefiele

Zenith Bank Plc yesterday announced the appointment of Mr Peter Olisamedua Amangbo as Group Managing Director and Chief Executive designate of the bank.

His appointment is sequel to the approval of the nomination of Mr. Godwin Emefiele as the Governor Designate of the Central Bank of Nigeria (CBN) by the National Assembly last Thursday.

The bank made the announcement, which is subject to the approval of the CBN, in a letter which it sent to the Nigerian Stock Exchange yesterday. According to the letter, the appointment will take effect from June 1, 2014.

The board of the bank had resolved to appoint Amangbo at a special meeting attended by eight directors including the CBN governor designate, Emefiele, which held at the Zenith Bank head office in Lagos, yesterday morning.

The letter which was signed by the Chairman of the bank, Sir Steve Omojafor, reads, "We write to inform you that following the appointment of Mr Godwin Emefiele, Managing Director and Chief Executive of Zenith Bank Plc as the Central Bank of Nigeria Governor Designate by His Excellency, President Goodluck Ebele Jonathan and his subsequent confirmation by the Senate of the Federal Republic of Nigeria, the Board of Directors has approved the appointment of Mr. Peter Olisamedua Amangbo as the GMD/CEO designate of Zenith Bank Plc, subject to Central Bank of Nigeria approval. The appointment is effective June 1, 2014."

Amangbo has been an Executive Director of the bank since 2005 and has over 21 years cognate banking experience of all which has been with Zenith Bank. He is also member of Executive Committee and Member of Staff Matters, Finance & General Purpose Committee of the bank.

His sojourn through Zenith Bank saw him through the Zenith Securities, Zenith Insurance, Zenith Pensions and Zenith Capital. He was in charge of the United Kingdom operations of the bank before his appointment as the GMD/CEO designate.

He worked previously with PricewaterhouseCoopers as a Senior Consultant in the financial Services Group.

Amangbo, holds a Bachelors degree in Electrical/Electronics Engineering from the University of Benin (1988), a post-graduate diploma in Computer Science and a Master's degree in Business Administration (1995) (MBA) from the University of Warwick, Coventry in the United Kingdom. He is a fellow of the Institute of Chartered Accountants of Nigeria (FCA)

He trained with PricewaterhouseCoopers and qualified as a Chartered Accountant before joining Zenith Bank in 1993.

He was the Head of Financial Control and Strategic Planning before reassignment as head the Corporate & Retail Banking Group and the Bank's Group Zonal Head, Lagos. He currently also oversees the Power & Infrastructure Group as well as the Group's Foreign Subsidiaries. He has attended the Advanced Management Programme at INSEAD, France.

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