BrandArena: FCMB gets new MD, as Ladi Balogun becomes Group CEO

Tuesday, 21 February 2017

FCMB gets new MD, as Ladi Balogun becomes Group CEO

FCMB Group Plc has announced a re-organisation of its leadership at the Group level, as well as its flagship company First City Monument Bank Limited (FCMB Limited) with Ladi Balogun stepping down as Group Managing Director having served for 10 years in this capacity.
Mr. Adam Nuru
Mr. Balogun will be succeeded as Managing Director of FCMB Limited by Mr. Adam Nuru, who is currently the Executive Director in charge of Business Development for the bank.

Mr. Balogun will assume the role of Group Chief Executive of the holding company, FCMB Group Plc. The holding company comprises FCMB Limited, FCMB Capital Markets, CSL Stockbrokers and CSL Trustees.

Under Ladi Balogun’s leadership, FCMB Limited has undergone a successful transformation from a merchant bank to a top 10 commercial bank in Nigeria across key metrics. During this period the bank has emerged as a leader in consumer finance, agricultural banking and electronic banking.

Adam Nuru has 28 years of banking experience, with 7 years spent with FCMB. He previously served as Regional Director, in charge of Abuja and Northern Nigeria, where he was responsible for growing the bank’s Northern franchise to become the largest and most profitable region of the bank.

He is a graduate of Ahmadu Bello University, Zaria, where he studied Business Administration, and has attended management programmes at leading international educational institutions.

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