Grapevine

Stanbic IBTC Holdings appoints acting CEO as Sogunle exits

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.