The Board of Directors of Zenith Bank Plc has appointed Mr. Ebenezer Onyeagwu as the Group Managing Director/Chief Executive of the financial institution. The appointment becomes effective from June 1, 2019, subject to the approval of the Central Bank of Nigeria (CBN).
According to a letter to the regulatory authorities - the Nigerian Stock Exchange - dated April 8, 2019, a copy of which was obtained by Huhuonline.com, the bank said Onyeagwu replaces Mr. Peter Amangbo, whose tenure expires on May 31, 2019. Mr. Amangbo leaves the bank at the end of a very successful career spanning over 27 years, with the last five years as GMD/CEO.
The letter signed by the Company Secretary/General Counsel, Michael Osilama, added: “The appointment is consistent with the bank’s tradition and succession strategy of grooming leaders from within.” Prior to his appointment, Onyeagwu was the Deputy Managing Director of the bank since October 28, 2016 and has close to 30 years cognate banking experience of which 17 years has been with Zenith Bank
Mr. Onyeagwu is a vastly experienced banker and financial expert, trained in reputable institutions of learning in Nigeria, the UK and USA. He is an alumnus of the prestigious Oxford University, England, from where he obtained a Postgraduate Diploma in Financial Strategy, and Certificate in Macroeconomics. He also undertook executive level business education in Wharton Business School of the University of Pennsylvania, Columbia Business School of Columbia University, the Harvard Business School of Harvard University (all in the United States) and Lagos Business School of the Pan African University, Nigeria.
Mr. Onyeagwu is a Chartered Accountant and was named a Fellow of the Institute of Chartered Accountants of Nigeria (FCA), in 2003. As Deputy Managing Director, Mr. Onyeagwu has oversight over the bank’s Financial Control and Strategic Planning, Risk Management, Retail Banking, Institutional and Corporate banking business portfolios, IT Group, Credit Administration, Treasury and Foreign Exchange Trading, as well as general administration of the bank, among others.
With nearly 30 years’ experience in the banking industry in Nigeria, Mr. Onyeagwu, who is a graduate of accounting from Auchi Polytechnic, began his career at the defunct Financial Merchant Bank in 1991 and later held several management positions in the erstwhile Citizens International Bank Limited until 2002.
He joined Zenith Bank Plc in 2002 as a Senior Manager, in the Internal Control and Audit Group of the bank. His professionalism, competence, integrity and commitment to the set objectives of the bank saw him rise swiftly between 2003 and 2005, first, as Assistant General Manager, then Deputy General Manager, and eventually as General Manager of the bank. In these capacities, he handled strategies for new business and branch development, management of risk assets portfolios, treasury functions, strategic top-level corporate, multinationals and public institutional relationships, among others.
He was named Executive Director of the bank in 2013, and put in charge of Lagos and South-South Zones as well as strategic groups/business units of the bank including Financial Control & Strategic Planning, Treasury and Correspondent Groups, Human Resources Group, Oil and Gas Group, and Credit Risk Management Group, etc. He was named Deputy Managing Director of the bank in 2016.
Mr. Onyeagwu is on the board of Zenith Bank Ghana, Zenith Pensions Custodian Limited, Zenith Nominees Limited and African Finance Corporation. He brings to his job strategic thinking, inspirational leadership, energetic and entrepreneurial skills. He is married with children.