Mustafa Chike-Obi has been appointed as the chairman of Fidelity Bank Plc.
This comes after the retirement of Ernest Ebi who has completed his tenure in line with the bank’s internal governance policy.
In a statement on Sunday, the bank also announced that Seni Adetu, an independent non-executive director, has completed his tenure too.
Ebi, who was appointed chairman of the bank in 2016, recently celebrated his 70th birthday.
His successor, Chike-Obi, is currently the executive vice-chairman at Alpha African Advisory.
Chike-Obi was also the first chief executive officer of the Asset Management Corporation of Nigeria (AMCON), an institution established to resolve the problem of non-performing loan assets of Nigerian banks after the 2008 global financial crisis.
“He has over 40 years of experience in investment banking and the financial services sector, working with reputable global investment banking and asset management firms,” the bank said, referring to Chike-Obi.
“He provides overall leadership at Alpha African Advisory and has direct oversight over the capital raising division.”
Commenting on the bank’s status during his exit, Ebi said: “I feel that the management team has consolidated on our plans to become one of the fastest-growing banks in the country strongly rooted in technology only comparable with the best in the world.
“I am confident that my successor will continue on that path to take the bank to its next stage of growth and advancement. I wish my successor, the management team, and the entire staff of Fidelity Bank the very best for continued success.”
Nnamdi Okonkwo, Fidelity Bank’s CEO, also commended the contributions of the outgoing board members, saying the bank has benefited immensely from their experiences and looked forward to continuing the bank’s upward growth trajectory with the incoming chairman-designate.
The bank said Ebi will continue in the role until the incoming chairman steps in.
Chike-Obi holds a bachelor’s degree in mathematics from the University of Lagos (first class honors) and an MBA from Stanford University Graduate School of Business.