Rewane resigns from FCMB Board after 17 years

Bismack Rewane, MD, Financial Derivatives Company

Bismarck Rewane, Managing Director, Financial Derivatives Company, an investment firm, has resigned from the board of FCMB Group Plc after 17 years.

He joined the bank’s board in 2002 as  an independent non-executive director and serves on the boards of several blue-chip companies in Nigeria.

In a release sent to the Nigerian Stock Exchange (NSE), FCMB on Tuesday stated that Rewane’s resignation has been accepted at a board meeting held on March 8.

“FCMB Group Plc hereby announces the retirement of Mr. Bismarck Rewane from the Board of the Company. This follows the acceptance of his retirement by the Board, at the Board of Directors’ meeting held on Friday, March 8, 2019,” the disclosure read.

“The Board and Management of FCMB Group Plc appreciate his valuable contributions and for always being available whenever called upon.”

The renowned economist said he is happy to be leaving the bank stronger than he met it.

“I have been on the board of at least four banks in Nigeria– Lion Bank, Intercity Bank, Fidelity Bank and FCMB, my fourth,”  he said.

“My time had come to an end; Central Bank allows non-executive directors some terms and so I had to retire.

“The bank is in very sound shape, so I’m happy I left it stronger than when I came in many years ago.

“FCMB is a super brand and it will continue to do very well.”