In preparation for its transformation to a full commercial bank, the board of Nova Merchant Bank has appointed Mr. Adebowale Oyedeji as its new Managing Director/Chief Executive Officer.
According to the chairman of the bank, Philip Oduoza, Oyedeji’s appointment, which takes effect from January 2, 2024, has been approved by the Central Bank of Nigeria (CBN).
He succeds Nath Ude, whose tenure expired on November 6, last year.
Oyedeji has held several executive positions in Nigeria and abroad.
He was the MD/CEO of Guaranty Trust Bank UK (a subsidiary of Guaranty Trust Bank Group) between 2008 and 2011 and an Executive Director of Guaranty Trust Bank Group from 2011 to 2018. He was on the Board of Stanbic-IBTC as an Independent Non-Executive Director (INED) from 2020 to last year.
Oyedeji said: “I am honoured to be the pioneer Chief Executive Officer of the proposed NOVA Commercial Bank which is set to positively change the entire banking landscape.”
Chairman of NOVA Merchant Bank, Phillips Oduoza, said: “This appointment is a reinforcement of the bank’s belief that with the right people and leadership, using technology and innovation, the bank will compete favourably for market share in the commercial and retail banking space.
“The Board believes that Wale’s hands-on experience and communication skills combined with his strong leadership capabilities will help NOVA deliver improved execution and financial performance.”
Oyedeji is an alumnus of University of Ibadan where he bagged a Bachelor of Science degree in Agricultural Economics. He also obtained his M.Sc degree in Financial Economics from University of London and Advanced Management Program (AMP) from Harvard Business School (HBS). He is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA) and Honorary member of Chartered Institute of Bankers (HCIB).
NOVA Merchant Bank Limited is an investment grade rated merchant bank in Nigeria which offers an integrated suite of financial solutions covering Wholesale Banking, Investment Banking, Asset Management, Securities Trading, Wealth Management, Trade Services, Transaction Banking, Cash Management and Digital Banking.
