The Board of Directors of Fidelity Bank Plc wishes
to announce the impending retirement of Mr. Nnamdi J. Okonkwo, the
Managing Director/Chief Executive Officer (MD/CEO) of Fidelity Bank Plc.
He will be stepping down from the Board of Directors of the Bank, with
effect from December 31, 2020, upon completion of his contract tenure,
in line with the bank’s governance policies.
In compliance with the succession policy of the Bank, the Board has
approved the appointment of Mrs. Nneka Onyeali-Ikpe, the current
Executive Director, Lagos and southwest Directorate as the MD/CEO
Designate. The approval of the Central Bank of Nigeria(CBN) has been
obtained for the appointment.
The Board has also approved the appointment of Mr. Kevin Ugwuoke, the
current Chief Risk Officer of the Bank, as Executive Director, Chief
Risk Officer, subject to the approval of the CBN.
“To ensure a smooth and successful transition, Nnamdi Okonkwo will
continue in his role as the MD/CEO until December 31, 2020, while Nneka
Onyeali-Ikpe will assume office as the substantive MD/CEO by January 1,
2021” said Chairman Board of Directors of Fidelity Bank Mr. Ernest Ebi.
He commended the MD/CEO for his significant contributions to the growth
and development of the bank. “Fidelity Bank has enjoyed a very stable
leadership since inception. These appointments underscore the bank’s
robust human capital capabilities, governance, and succession policies.
We thank Nnamdi not only for his sterling performance but also for
nurturing the new team and the current crop of leaders to continue to
steer the bank on its growth trajectory” he stated.
Mr. Nnamdi Okonkwo was appointed to the Board of Fidelity Bank in April
2012 as an Executive Director and was subsequently appointed the MD/CEO
on January 01, 2014. He implemented a Digital-led Strategy which led to
significant growth across key performance matrix and increased market
share, with the Bank currently ranked 6th amongst Nigerian Banks on most
performance indices. Some of his key achievements include PBT growth of
236% from N9.0bn to N30.4bn; RoE increase from 5.5% to 13.3%; Customer
Deposits growth of 68% from N806.3bn to N1,352.3bn and Savings Deposit
growth of 275% from N83.3bn to N312.1bn.
Other notable achievements include Net Loans and Advances growth of 174%
from N426.1bn to N1,165.8bn; Customer Base increase by 121% from 2.4
million to 5.3 million and Digital Banking penetration improvement from
1.0% to 50.1%, accounting for 28.4% of total fee income. In addition,
the Bank successfully accessed the local and international markets
through the issuance of N30bn Corporate Bonds in 2015 and $400million
Eurobonds in 2017 under his leadership.
Mrs. Onyeali-Ikpe was appointed to the Board of Fidelity Bank in 2015 as
an Executive Director and currently oversees the Lagos and Southwest
Directorate. She led the transformation of the Directorate to
profitability and sustained its impressive year-on-year growth across
key performance metrics. Nneka has been an integral part of the current
management team, responsible for the remarkable increase in the Bank’s
performance in the last 5 years, with the area under her direct
responsibility, contributing over 28% of the Bank’s PBT, Deposits and
Loans.
Nneka has over 30 years of experience across various banks including
Standard Chartered Bank Plc, Zenith Bank Plc, and Citizens International
Bank/Enterprise Bank, where she held several management positions in
Legal, Treasury, Investment Banking, Retail/Commercial Banking, and
Corporate Banking. As an Executive Director at legacy Enterprise Bank
Plc, she received a formal commendation from the Asset Management
Corporation of Nigeria (AMCON), as a member of the management team, that
successfully turned around Enterprise Bank Plc.
She holds Bachelor of Laws (LLB) degree from the University of Nigeria,
Nsukka; a Master of Laws (LLM) degree from Kings College, London and has
attended executive training programs at notable global institutions
including; Harvard Business School; The Wharton School University of
Pennsylvania; INSEAD School of Business; Chicago Booth School of
Business; London Business School and IMD amongst others.
Kevin Ugwuoke joined Fidelity Bank in 2015 as General Manager, Chief
Risk Officer. Under his supervision, the Bank’s Total Loan Book has
grown by a Compound Annual Growth Rate (CAGR) of 17% from N559.1bn to
N1,218.9bn with Cost of Risk averaging 0.7% within the period and
Non-Performing Loans Ratio below the regulatory threshold at 4.8% in Q1
2020. He has over 29 years of banking experience across various banks
namely Citi Bank, Access Bank Plc, United Bank for Africa Plc, and
legacy Mainstreet Bank Limited, where he worked in various capacities in
Banking Operations, Commercial Banking, Corporate Banking and Risk
Management. Prior to joining Fidelity Bank, he was Chief Risk Officer at
United Bank for Africa Plc and Mainstreet Bank Limited.
Kevin holds a First Class Honors degree in Civil Engineering from the
University of Nigeria, Nsukka, and a Post Graduate Diploma in Management
from Edinburgh Business School of Herriot-Watt University. He has
attended several executive pieces of training at Harvard Business School
and other world-class institutions of learning.
