Fidelity Bank Appoints New MD To Replace Okonkwo

By Fola James

Fidelity Bank Plc has appointed Nneka Onyeali Ikpe as Managing Director and chief executive officer designate, to replace Nnamdi Okonkwo whose tenure will end by December 31 this year.

The incoming managing director’s appointment takes effect from January 31, 2021, according to an announcement on Monday in a notice on the Nigeria Stock Exchange, NSE website, signed by Ezinwa Unuigboje, the bank’s Secretary.

The bank it has become necessary to inform the regulator and the general of the disengagement of Okonkwo, from the Board of Directors of the bank, with effect from December 31 upon completion of his term as chief executive.

The notice said “In compliance with the succession policy of the bank, the board has approved the appointment of Onyeali-Ikpe, the current Executive Director, Lagos and South West Directorate as the MD/CEO designate of the bank, to assume office with effect from January 1, 2021.

The approval of the Central Bank of Nigeria (CBN) has been obtained for the appointment.”

Apart from the MD designate, the board has also approved the appointment of Kevin Ugwuoke, the current Chief Risk Officer of the Bank, as Executive Director, Chief Risk Officer, pending to the approval of the Central Bank of Nigeria.

Onyeali-Ikpe was appointed to the Board of Fidelity Bank in 2015 as an Executive Director and currently oversees the Lagos and Southwest Directorate, and has been an integral part of the Okonkwo-led management team for over five years, the statement said.

“Onyeali-Ikpe has over 30 years of experience across various banks including Standard Chartered Bank Plc, Zenith Bank Plc and Citizens International Bank Limited, where she held several management positions in Legal, Treasury, Investment Banking, Retail/Commercial Banking and Corporate Banking

She has been involved in the structuring of complex transactions in various sectors including oil & gas; manufacturing, aviation, real estate and export,” the bank said in the statement.

Okonkwo, the outgoing managing director was appointed to the Board of the bank in April 2012, as an Executive Director and was subsequently made the chief executive officer on January 1, 2014.

According to the statement Okonkwo drove the bank’s digital strategy, leading to high performance across key indices which placed the bank among top six deposit money banks in the country.

Okonkwo successfully placed the bank in the global money market after his management issued N30 billion Corporate Bonds in 2015 and $400million Eurobonds in 2017.

“The board seizes this opportunity to express sincere appreciation to Okonkwo for his significant contributions to the growth and development of the Bank during his tenure of the board,” the statement added.