Stanbic IBTC Holdings appoints acting CEO as Sogunle exits

Mr Kunle Adedeji is currently the group's chief financial officer.

Stanbic IBTC Holdings has appointed a chief executive officer in an acting capacity to fill the vacancy to be created by the retirement of Demola Sogunle, who quit the top executive role at the banking group later this month.

“After almost 35 years of dedicated service, Dr. Sogunle has made significant impact on Stanbic IBTC as a Group, guiding the Organization through numerous challenges and achievements,” the group said in a statement on Wednesday.

Mr Sogunle has been the helmsman at the Nigerian unit of Standard Bank Group – sub-Saharan Africa’s biggest bank by assets – for more than two years.

Stanbic IBTC’s chief financial officer (CFO), Kunle Adedeji, will take his place as acting CEO onwards from 1 November, a day after the current chief executive will have exited.

The CFO is simultaneously the chief finance and value management officer of the company.

According to the group, the regulatory approval backing the appointment is already in place.

Mr Adedeji was admitted to the board of directors of the organisation as an executive director in 2019, serving prior to that as the CFO of Stanbic Bank Ghana between May 2013 and March 2018.

He holds board positions elsewhere: as a non-executive director at Zest Payments Limited as well as at Stanbic IBTC Stockbrokers Limited.

At a point in his banking career, which is over twenty-five years, he held the roles of financial controller at Ecobank Liberia and chief financial controller at Ecobank Nigeria.

He is a graduate of Accounting and holds a Master of Business Administration in Finance from the University of Lagos.

Equally, he holds a Diploma in Business Administration from the Swiss Business School, Switzerland.

A fellow of the Institute of Chartered Accountants of Nigeria, Mr Adedeji also holds various other fellowships including at the Chartered Institute of Stockbrokers of Nigeria and the Chartered Institute of Bankers of Nigeria.

He is an associate of the Chartered Institute of Taxation of Nigeria and the Nigeria Institute of Management.