OBINNA EZUGWU

The Managing Director and Chief Executive Officer of Guaranty Trust Bank Plc, Mr. Segun Agbaje has said the bank would conclude the process for selecting his replacement by the fourth quarter of 2020.

Agbaje’s whose 10-year term as MD/CEO ends this year, gave the hint at an investor earnings call session on Monday.

He had earlier announced that the bank was looking to transform into a holding company.
Some of the front line candidates for the bank’s top job include Mr. Bolaji Lawal, Mr. Demola Odeyemi, Mr. Haruna Musa and Mrs. Miriam Olusanya.

Agbaje noted that in line with the bank’s succession plan, five of its executive directors have been pencilled down and are at the concluding stages of the recruitment process.

“Now we are looking for a new Managing Director for Guaranty Trust Bank Nigeria. The process has started, we have five executive directors and so all of them are going through the process at the moment,” he said.

“We are working with a consulting firm in the UK where we are looking for based upon what we see for the Nigeria business, what we think the future will hold, what we think Nigerian Banking will look like.

“We will then at the end of this process which will end at the beginning of the fourth quarter, we will then have a Managing Director for GT Bank Nigeria.

“We have five executive directors going through the process and one will emerge before the end of the fourth quarter. So succession for GT Bank Nigeria is well under control.”