The Board of Directors of Zenith Bank Plc has named Mr. Ebenezer Onyeagwu as the new group managing director/chief executive (GMD/CEO) of the bank.
Onyeagwu’s appointment takes effect from June 1, 2019 and is subject to the approval of the Central Bank of Nigeria (CBN).
In a letter to the regulatory authorities dated April 8, 2019, Zenith Bank said that Onyeagwu who until his appointment, was the deputy managing director of the bank, replaces the outgoing GMD/CEO, Mr. Peter Amangbo, whose tenure expires on May 31, 2019.
The bank said that Amangbo would leave at the end of a very successful career spanning over 27 years, with the last five years as GMD/CEO.
In the letter signed by the company secretary/general counsel, Michael Osilama, the bank said: “The appointment is consistent with the bank’s tradition and succession strategy of grooming leaders from within.”
In another statement, Zenith Bank described the new GMD/CEO as a vastly experienced banker and financial expert, trained in reputable institutions of learning in Nigeria, the United Kingdom (UK) and the United States of America (USA).
According to the bank, “he (Onyeagwu) is an alumnus of the prestigious University of Oxford, England, from where he obtained a postgraduate diploma in financial strategy and a certificate in macroeconomics.
“He also undertook extensive executive level business education in Wharton Business School of the University of Pennsylvania, Columbia Business School of Columbia University, the Harvard Business School of Harvard University (all in the United States) and Lagos Business School of the Pan African University, Nigeria.
“Mr. Onyeagwu is a chartered accountant and was named a Fellow of the Institute of Chartered Accountants of Nigeria (FCA) in 2003,” the bank said.
The statement added that that as deputy managing director, Onyeagwu has oversight over the bank’s financial control and strategic planning, risk management, retail banking, institutional and corporate banking business portfolios, IT Group, credit administration, treasury, and foreign exchange trading, as well as general administration of the bank, among others.
It continued: “With nearly 30 years’ experience in the banking industry in Nigeria, Mr. Onyeagwu, who is a graduate of accounting from Auchi Polytechnic, Edo State began his career at the defunct Financial Merchant Bank in 1991 and later held several management positions in the erstwhile Citizens International Bank Limited until 2002.
“He joined Zenith Bank Plc in 2002 as a senior manager, in the Internal Control and Audit Group of the bank. His professionalism, competence, integrity, and commitment to the set objectives of the bank saw him rise swiftly between 2003 and 2005, first, as assistant general manager, then deputy general manager, and eventually as general manager of the bank.
“In these capacities, he handled strategies for new business and branch development, management of risk assets portfolios, treasury functions, strategic top-level corporate, multinationals, and public institutional relationships, among others.”
Onyeagwu was named an executive director of the bank in 2013 in charge of Lagos and South-South Zones as well as strategic groups/business units of the bank including financial control and strategic planning, treasury and correspondent groups, human resources group, oil and gas group, and credit risk management group, etc. He was named deputy managing director of the bank in 2016.
He is on the board of Zenith Bank Ghana, Zenith Pensions Custodian Limited, Zenith Nominees Limited and African Finance Corporation. He brings to his job strategic thinking, inspirational leadership, energetic and entrepreneurial skills. He is married with children.
