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Business - February 21, 2017

Nuru to take over from Balogun as FCMB CEO

Adams Nuru, the incoming GMD, FCMB

First City Monument Bank (FCMB), has announced Adams Nuru as the new Group Managing Director of the bank effective March 20, 2017.

The bank which made the announcement on Monday said the move is in line with the bank’s new re-organization plan.

Ladi Balogun, the current GMD, according to the bank 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.

Balogun served as Group Managing Director of the commercial banking arm, FCMB Limited for 10 years.

Adams Nuru, before his new appointment was the executive director in charge of business development for the bank.

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 has 28 years of banking experience, with seven years spent with FCMB. (Adapted from a Daily Trust report)

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