GT Bank Appoints New DMD, Executive Directors

Guaranty Trust Bank (GT Bank) has appointed a new deputy managing director and three new Executive Directors. According to a statement by the bank, the appointments were made at a recent board meeting.

Mrs. Cathy Echeozo, formerly an Executive Director and head of the Bank’s Institutional banking division was appointed deputy managing director. She joined GTBank in 1993 and has worked in the Bank’s Treasury Management, Credit Management, Systems and Control and Institutional Banking Divisions.

Mrs. Echeozo has a first degree in Accounting from the University of Nigeria and an MBA from the University of Maryland US. A certified Information Systems Auditor and Fellow of the Institute of Chartered Accountants of Nigeria, she was chairperson ,Emerging Issues Sub Committee, on the Committee of Chief Inspectors of all Banks in Nigeria (1999-2000) and pioneered the Bank’s entry into the Nigerian Retail Market.

Also appointed were Mr. Wale Oyedeji, former Managing Director of GTBank UK Limited, Mr. Demola Odeyemi, Chief Financial Officer and Head of Strategy and Mrs. Tola Omotola, Company Secretary and Legal Adviser of the Bank, as Executive Directors of the Bank. The new executives will replace three former directors; Mr. Jide Ogundare, Mrs. Titi Osuntoki and Mr. Akin George-Taylor, who voluntarily resigned from the Bank recently, after having put in between 18 to 21 years of service each.

The new appointment is however subject to Central Bank of Nigeria (CBN)’s approval.

A statement by the Group Managing Director of the bank, Mr. Segun Agbaje; said that ‘the exiting trio have contributed immensely to the success of the Bank. However this provides an opportunity to further to engender rejuvenation and provide ample opportunities for the younger generation to rise up and harness their full potentials.”

GTB was recognised in July this year as the 2011 ‘best bank in Nigeria’ at the Euromoney Awards for Excellence.

 The Bank’s 3rd Quarter Unaudited results which were recently released on the floor of the Nigerian and London Stock Exchanges show gross earnings of over N138 billion and a profit after tax and extra-ordinary items of over N40 billion for the 9 month period of January to September, 2011.