GTBank Named Olusanya as MD, Agbaje Remains GCEO of Parent Company

By Goddy Egene

The Guaranty Trust Bank (GTBank) has appointed Mrs. Miriam Olusanya, as its new managing director (MD).

In a notification to the Nigerian Exchange (NGX) Limited yesterday, the tier one lender, which also announced the successful completion of its restructuring into a holding company structure, said Mr. Segun Agbaje would remain as the group chief executive officer(GCEO) of the Guaranty Trust Holding Company Plc (GTCo) while Mr. Sola Oyinlola would be the chairman.

Other members of GTCO board are: Mrs. Cathy Echeozo (Non-Executive Director), Mrs. Helen Bouygues (Independent Non-Executive Director), and Mr. Adebanji Adeniyi (Executive Director).

The banking subsidiary, GTBank’s Board has Mr. Ibrahim Hassan as chairman while Olusanya is the MD and Mr. Jide Okuntola (Deputy Managing Director). Other directors are: Mr. Olabode Agusto (Non-Executive Director), Ms. Imponi Akpofure (Independent Non-Executive Director), Mrs. Victoria Adefala (Independent Non-Executive Director), Mr. Jide Okuntola (Deputy Managing Director) and Mr. Haruna Musa (Executive Director).

According to the company, the board was reconstituted following the retirement of about four Directors. Agbaje had on Monday said the group was excited about the opportunities the new structure had opened up which would be turned into better value for all stakeholders.

“At GTCO, we are very excited about the opportunities that have opened up to us with this restructuring, particularly because diversifying our income base has always been a major priority. As we venture into this new phase, we look forward to leveraging technology and introducing new business lines – including payments, asset management and more – that go beyond the needs of institutional or wholesale clients to improve retail clients’ access to the financial markets,” he said.

The GCEO explained that following the transition, they could now compete more effectively with non-banks in this new and evolving competitive landscape, whilst creating more value for customers and shareholders than they ever could as a bank.

“Although we are delighted to have completed this rigorous transition process, we know that the hard work has just begun. We are in the final phase of building a new payments business that will deepen and extend digital financial services across Africa. We also believe that we are in a better position to drive an asset management business and a pension fund business, given our strong retail base and digital-first approach to financial services, which we have honed over the past decade,” he said.