Friday, 26 August 2016

First Bank Appoints Patrick Iyamabo As New CFO

First Bank of Nigeria has announced the appointment of former CFO of FCMB Group, Patrick Iyamabo as its new Chief Financial Officer (CFO).

The appointment follows the elevation of the former CFO, Dr. Adesola Adeduntan to Managing Director/CEO of the Bank.

Mr. Iyamabo’ s appointment, which is still subject to approval by the Central Bank of Nigeria (CBN), is consistent with FirstBank’s focus on corporate governance and best practice, and ensuring a balance of knowledge, judgment and experience at the highest decision making level in the Bank. The Bank’s Corporate Governance focus has earned it much respect and recognition both locally and internationally.

Patrick started his career with Arthur Andersen (now KPMG Professional Services) as an Auditor in the Banking and Finance practice, and rose to the position of Experienced Manager in the Assurance & Risk Consulting practice, before he left the country for further studies abroad.
At various times, Patrick also worked with Booz Allen Hamilton (New York) and LE.K Consulting (Boston) as an experienced strategy and M&A Consultant, advising private and listed corporations in the US. He returned to Nigeria in 2007, to join FCMB Plc as Vice President/Head, Strategy and Mergers & Acquisitions. He led the acquisition, restructuring and merger of the FinBank Plc into FCMB in 2012, where he was the Chief Financial Officer / Integration Director on secondment from FCMB. Until his appointment, Mr. Iyamabo was the Chief Financial Officer (CFO) of FCMB Group Plc with oversight responsibility for Accounting & Finance, Capital and Liquidity Management, Mergers & Acquisition, Portfolio Management and Investor Relations.

Patrick has over 20 years of extensive experience across various industries both within and outside Nigeria. He also has significant cross functional experience in Accounting, Audit, Strategic Management, Mergers & Acquisition and Finance, which will be immensely beneficial to the Bank in his new role as the Chief Financial Officer.

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