According to a statement issued by the bank on Monday, Nuru will from March 20, replace the current Group Managing Director, Ladi Balogun.
The statement, which was obtained added that Balogun, having served as Group Managing Director of the bank for 10 years, will be stepping down in this capacity.
With the new development, Balogun is expected to assume the role of Group Chief Executive of the Holding Company, FCMB Group Plc.
The holding company comprises FCMB Limited, FCMB Capital Markets, CSL Stockbrokers and CSL Trustees.
Extolling the virtues of the outgoing CEO, the statement reads in part that “Under Ladi Balogun’s leadership, FCMB Limited has undergone a successful transformation from a merchant bank to a top 10 commercial bank in Nigeria across key metrics.
“During this period the bank has emerged as a leader in consumer finance, agricultural banking and electronic banking. The bank’s franchise has grown to 4 million customers, 220 branches and a successful banking subsidiary in the United Kingdom.”
Nuru, who is currently the Executive Director in charge of Business Development for the bank had previously served as Regional Director, in charge of Abuja and Northern Nigeria, where he was responsible for growing the bank’s Northern franchise to become the largest and most profitable region of the bank.
Nuru has 28 years of banking experience, with seven years spent with FCMB. He is a graduate of Ahmadu Bello University, Zaria, where he studied Business Administration, and has attended management programmes at leading international educational institutions.
The board of First City Monument Bank (FCMB) Group has announced the appointment of Adamu Nuru as the Managing Director of the commercial banking arm First City Monument Bank Limited.
