Fresh Details: CEO Segun Agbaje Makes More Major Moves As He Prepares To Leave GTBank

It is an open secret.

Segun Agbaje, the Chief Executive Officer who transformed the fortunes of Guaranty Trust Bank (GTBank) beyond expectations ends his ten (10) years of sterling performance in June 2021.

Information filtering in has it that he is preparing the bank to sustain – after his exit – the fantastic run that grew total assets from N1.6 trillion when he took over in 2010 to N4.574 Trillion as at September 2020.

Insiders disclosed that the plan by Agbaje who soared the bank’s position to one of the strongest in the country points at giving GTBank its first female Managing Director, Miriam Chidiebele Olusanya.

Olusanya who joined the bank in 1998 is the Executive Director who heads the Wholesale Banking Division.

She is described as someone with very keen insights and a major contributor to the current status of GTBank as shaped by Agbaje.

Societynow.ng confirmed in preparing a fertile ground for the takeoff of Olusanya’s reign as successor, outgoing CEO Agbaje has made some major moves.

The developments have resulted in new appointments and exits of certain persons.
 
The fresh appointments intended to complement the initiatives of the incoming managing director’s efforts include John Thomas – MD West Africa, Bayo Vera Cruz – MD East Africa, Angela Koech – Regiona CFO East Africa, Caleb Osei – Regional CFO West Africa, Olumide Oguntuase – Divisional Head ERM, Olayinka Odusote – Divisional head Digital banking, Osa Aimerioghene – CCO Compliance group, Muinat Lanre Kasim – Divisional Head Syscom an Ijeoma Esemudje – Divisiona Head, Corporate bank / Mainland / Agric.

The checks made by societynow.ng revealed that, aside the exit of executive directors Bolaji Lawal (in charge of Digital Banking Division) and Ademola Odeyemi (at the helms as International Banking and Strategy) , four General Managers – who are believe to be above 45years – out of nine are on their way out.

They are listed as George Uwakwe – GM Risk, Femi Akerewusi – GM Corporate Bank, Lagos Mainland, Segun Fadahunsi – GM Systems and Control Division and Subuola Abraham – Chief Compliance Officer.

There are also talks some persons below this rank are penciled to go as well.

Those who should know, however, insist that letting some people go is not an indictment on their capabilities – like directors Bolaji Lawal and Ademola Odeyemi whose achievements are labeled phenomenal -but a reality of unraveling change.

In the face of the speculations and conjectures by these moves by Agbaje –who has made investors more money than they bargained for – to leave a GTBank with great potentials to outperform his record, a source insisted that “It is a normal thing, When Agaje became MD (managing director), EDs (Executive Directors) were retired, it’s a normal thing.”

Societynow.ng gathered that the retirements in 2010 created an enabling environment for Agbaje who within 9 years posted a record that overshadowed the 20years work that earned his predecessors Fola Adeola and Tayo Aderinokun the tags “Banking legends.”

With ten years tenure each, Aderinokun and Adeola grew the bank’s total assets to N1.6Trillion from 1990 – when it was founded-  to 2010, when Agbaje took over.

As at 2019, Agbaje had grown Total Assets to N3.79Trillion and improved it to N4.574Trillion as at September 2020.

“It is that same enabling environment Agbaje is pushing to provide for his successor with plug-ins of strong potentials to do far better” societynow.ng learned.