News

The Board of Directors of Skye Bank Plc has appointed Kehinde Durosinmi-Etti as Group Managing Director designate. He was formally the Deputy Managing Director of the bank. Durosinmi-Etti, will succeed the incumbent CEO, Akinsola Akinfemiwa, who retires at the end of July. Akinfemiwa has spent over 10 years as the chief executive of the defunct Prudent Bank and Skye Bank. A statement issued by Skye Bank yesterday described Durosinmi-Etti as a seasoned banker with many years of cognate banking experience, spanning banking operations, treasury management, investment banking, project financing and commercial banking. A 1982 graduate of Economics from the University of Ibadan, Durosinmi-Etti is also a fellow of the Chartered Association of Certified Accountants (ACCA), United Kingdom. After a stint in audit practice, he started his banking career in 1987 when he joined the Nigerian-American Merchant Bank Limited before moving to Midas Merchant Bank as Head of Treasury and Assistant General Manager in charge of Money Market Division. The statement further said he had a stint at the Lagos Building and Investment Company Limited before joining the then Eko International Bank (EIB) Plc and rose to become the Managing Director and Chief Executive Officer before the consolidation programme of 2005.

The Board expressed confidence that the incoming leadership of the management team would build on the growth achieved by Akinfemiwa and his team, as well as consolidate and expand the frontiers of the bank Durosinmi-Etti’s appointment ends the appointment of new CEOs by the three banks affected at present by the maximum tenure of 10 years for bank CEOs as directed by the Central Bank of Nigeria. The other banks – United Bank for Africa and Zenith Banks had appointed new CEOs earlier. By the directive of the CBN Board of Directors, all bank CEOs that would have served for 10 years by July 2010 shall cease to function in that capacity and shall hand over to their successors. The Board of Skye Bank also approved the appointment of Timothy Oguntayo as the Deputy Managing Director designate. Oguntayo is at present an executive director in the bank, and has over 28 years of banking experience. His experience spans Corporate Finance, Credit and Risk Management, Corporate Banking, Investment Banking, Project Finance and Commercial Banking