Ecobank Transnational Incorporated (ETI) has appointed Ade Ayeyemi as its new Group Chief Executive Officer (CEO). His appointment takes effect from 1 September 2015.
Mr Ayeyemi, 52, will replace Albert Essien, who retires on 30 June, 2015 after 25 years of meritorious service with the Group.
An interim arrangement will be made by the Ecobank Board for the management of the Group from 1 July to 31 August, pending the resumption of the new Group CEO.
Mr Ayeyemi is a highly experienced banker who has had a long and successful career with Citigroup, where he is currently Chief Executive Officer (CEO) of Citigroup’s sub-Saharan Africa division, based in Johannesburg.
He is an Accounting graduate of the University of Ife, now Obafemi Awolowo University, Ile-Ife, Nigeria, where he earned a Bachelor of Science degree with First Class Honours.
He also studied at the University of London and is an alumnus of Harvard Business School’s Advanced Management Programme.
A Chartered Accountant, Mr Ayeyemi is also a trained UNIX Administrator and Network Operating Systems Manager. His many interests include business strategy, economics, process engineering and technology.
Ecobank Group Chairman Emmanuel Ikazoboh said ‘After a thorough and extensive search throughout the African continent, we are delighted to have secured Ade as the person to lead Ecobank through the next phase of its development and beyond as a world-class pan-African bank. Ade is a truly outstanding individual with deep knowledge of banking across Africa, and we welcome him to the Board. At the same time, I should like to thank Albert Essien for his 25-year career at Ecobank and for his stellar service as Group Chief Executive Officer over the past year. We wish him well in his retirement.’
Ade Ayeyemi noted: ‘I am delighted to have been offered the opportunity to lead this great institution, and commend Albert Essien for his legacy of helping further the premier pan-African financial institution.
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