Fidelity Bank Plc has announced the appointment of Mustafa Chike-Obi as chairman of the bank’s board of directors.
Mr Chike-Obi, who is currently executive vice chairman at Alpha African Advisory, has over 40 years of experience in investment banking and the financial services sector.
In a statement on Sunday, Fidelity Bank said that Chike-Obi’s appointment followed retirement of Ernest Ebi as chairman, board of directors.
It noted that Ebi and Seni Adetu, who had been serving as chairman and independent non-executive director respectively, had successfully completed their tenure in accordance with the bank’s internal governance policy.
The bank said that they would be stepping down from the board.
It also said that it recorded significant growth across key financial metrics under the leadership of Ebi and Adetu.
“The bank’s market share position has also been materially strengthened,” the bank said.
Prior to joining Alpha African Advisory, Chike-Obi was the inaugural chief executive officer of Asset Management Corporation of Nigeria (AMCON).
He was the founding president at Madison Advisors, a financial services advisory and consulting firm in New Jersey, US, specialising in hedge funds and private equity investment advice.
He holds a bachelor’s degree in Mathematics from the University of Lagos (first class honours) and a master’s degree in Business Administration from Stanford University Graduate School of Business.
According to the bank, Ebi will continue in the role until Chike-Obi assumes office to ensure smooth and successful transition.