Ecobank Transnational to get a new group CEO

Ayeyemi will replace Albert Essien, who will retire on 30 June 2015 after having worked in the company for 25 years. Ecobank officials said that an interim arrangement will be made by the Ecobank Board for the management of the group during the period 1 July through 31 August, pending the resumption of the new group CEO.

Ade Ayeyemi said, “I am delighted to have been offered the opportunity to lead this institution, and commend Albert Essien for his legacy work of helping further the premier pan-African financial institution. Ecobank has an exceptional platform, great people, solid strategy and strong momentum. I sincerely look forward to working with the management team, the Board of Directors, and the employees of Ecobank as we set new standards in financial services for our clients across the board.”

The newly-appointed group CEO is a highly experienced banker who has had a long career with Citigroup, where he is currently CEO of the bank’s sub-Saharan Africa division, based in Johannesburg. Ayeyemi pursued degrees from the University of Ife, Nigeria and University of London; and is also an alumnus of Harvard Business School’s Advanced Management Programme. A chartered accountant, Ayeyemi is also a trained UNIX administrator and network operating systems manager. His 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 CEO over the past year. We wish him well in his retirement.”