Guaranty Trust Bank – one of the leadiing commercial banks in Nigeria – will be announcing major management changes soon.
An online business news platform Nairametrics reports that the a “major management restructuring is at the final stages of completion” at the bank.
According to the report, the incumbent managing director of the Bank, Segun Agbaje will be leading those who will be exiting the bank. Agbaje is in the final period of the 10-year tenure as the MD of the bank.
Nairametrics cited sources as saying that that a clean sweep of top management staff above the age of 45 in the exercise.
As per the report, Miriam Olusanya will be announced as its new Managing Director.
The news online platform adds that “the Central Bank has already been notified and a formal announcement could be made anytime soon.”
In an internal memo dated April 28, 2021, and seen by Nairametrics, Thomas John has been appointed Managing Director of GTB West Africa while Bayo Veracruz was appointed Managing Director of GTB East Africa.
Others are Olayinka Odusote as Divisional Head, Digital Banking, an important position considering the bank’s ambition to transform into a full-fledged digital bank. Ijeoma Esemudje is appointed Divisional Head Corporate Bank Mainland & Agric.
The medium reports further that as part of the management restructuring already in effect, two of the oldest and revered Executive Directors of the bank have already been asked to retire after illustrious years of service to the bank. Nairametrics also understands 4 General Managers out of 9 have also been asked to exit the bank paving the way for younger executives mostly under the age of 45 to take charge.
According to the report, a list of appointments and exits purportedly approved by the board is already being circulated across several social media groups on WhatsApp and Telegram.
Nairametrics could not however confirm the authenticity of the list and although officials at the bank did not confirm the list, they stated that a press release would soon be made to announce the appointments.
