Ecobank Names New Group CEO

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Ecobank Transnational Incorporated (Ecobank), parent company of the Ecobank Group, has announced the appointment of Ade Ayeyemi as its new Group Chief Executive Officer. His appointment takes effect from 1 September 2015.

Mr. Ayeyemi, 52, will replace Albert Essien, who retires on 30 June, 2015 after 25 years of service with the Group. An interim arrangement will be made by the Ecobank Board for the management of the Group during the period 1 July through 31 August, pending the encumbancy of the new GCEO.

Mr Ayeyemi is reputed to be a highly experienced banker who has had a long and successful career with Citigroup, where he is currently Chief Executive Officer of Citigroup’s sub-Saharan Africa division, based in Johannesburg.

He is an Accounting graduate of the University of Ife, now Obafemi Awolowo University, Ile-Ife, Nigeria, where he earned a Bachelor of Science degree with First Class Honors. He also studied at the University of London and is an alumnus of Harvard Business School’s Advanced Management Program.

A Chartered Accountant, Mr. Ayeyemi is also a trained UNIX Administrator and Network Operating Systems Manager. His many interests include business strategy, economics, process engineering and technology.

Ecobank Group Chairman Emmanuel Ikazoboh, said, “After a thorough and extensive search throughout the African continent, we are delighted to have secured Ade as the person to lead Ecobank through the next phase of its development and beyond as a world-class pan-African bank.

“At the same time, I should like to thank Albert Essien for his 25-year career at Ecobank and for his stellar service as Group Chief Executive Officer over the past year. We wish him well in his retirement.”

Mr. Ayeyemi said he was delighted to have been offered the opportunity to lead Ecobank, and commended Albert Essien for his legacy work of helping further the pan-African financial institution.

“Ecobank has an exceptional platform, great people, solid strategy and strong momentum. I sincerely look forward to working with the management team, the Board of Directors, and the employees of Ecobank as we set new standards in financial services for our clients across the board,” said Ayeyemi. (African Press Organization)

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