Elumelu is new chairman of UBA

LAGOS – The Board of the United Bank for Africa Plc (UBA) has appointed Mr Tony O. Elumelu, as the new Chairman of the bank.

Elumelu, who succeeds Amb. Joe Keshi, is also Chairman and Chief Executive Officer (CEO) of Heirs Holdings, the pan-African proprietary investment company.

He retired as Group Managing Director and CEO of UBA in 2010, following the introduction by the Central Bank of Nigeria of a 10-year tenure limit for bank CEOs.

Elumelu had served as CEO of the UBA Group for 13 years, where he was responsible for the creation of the modern UBA.

He is also the founder of the Tony Elumelu Foundation, an Africa-based and African-funded philanthropic institution.

Mr Phillips Oduoza, Group Managing Director/CEO, UBA said: “Tony Elumelu’s  track record at UBA speaks for itself.

“His return to the Board brings a depth of knowledge and experience of the African financial services industry that is second to none.[eap_ad_2] 

“We are privileged to have him lead the Board at this critical stage in our development.”

Reacting to the appointment, Elumelu said: “I am very much looking forward to returning to the Group.

“UBA represents a tremendous investment opportunity and is at an inflection point in its growth path.
“We have an extremely powerful executive team and I am looking forward
to bringing my experience and energy to guide UBA’s long term strategy.

“Financial services remain one of the key drivers of African growth, both in terms of social inclusion and regional integration, and the UBA Group provides a unique platform to deliver both extraordinary value and drive Africa’s economic success.

“I will also like to thank my predecessor, Amb. Keshi and the entire board for their contributions to the growth and development of the bank.” (NAN)[eap_ad_3]