Atlas Mara Co-Nvest Ltd. (ATMA), the Africa-focused financial services holding company of veteran banker, Bob Diamond has awarded 300,482 ordinary shares (valued at $3.2 million) to its CEO John Vitalo.
It awarded Vitalo an option of securing another 300,000 shares, increasing the CEO’s share value to $6 million.
Atlas Mara also offered 653,000 shares to other employees and consultants, including its Acting Chief financial Officer, Brad Gibbs. But the shares are subject to certain restrictions on dealings until April 2017.
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Vitalo, the former boss of Barclays’ Middle East and North Africa region, joined Atlas Mara in April as its CEO. The shares will allow him to receive an annual cash bonus of up to $1 million.
Under his administration, Atlas Mara has stepped up pace in securing deals across Africa’s diverse economic sectors. This includes an additional 20.9 percent stake in Union Bank of Nigeria Plc for $270 million.
Founded by Barclay’s ex-boss and Africa-based entrepreneur, Ashish Thakkar; Atlas Mara, intends to become the leading bank in sub-Saharan Africa. (VENTURES AFRICA)
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