Okonkwo Named Union Bank MD Designate as Emuwa Retires

Admin 23-Dec-2020 Business

Ayodeji Seriki

The Board of Union Bank Nigeria Plc has announced that its Chief Executive Officer, Mr. Emeka Emuwa, will retire on March 31, 2021, after leading the financial institution for eight years.

Emuwa joined Union Bank in November 2012, following a $500 million investment by Union Global Partners, with a mandate to transform and restore one of Nigeria’s oldest institutions back to its rightful position as a respected provider of financial services. According to a statement, the Board has appointed an Executive Director currently leading the bank‘s Corporate Banking business, Emeka Okonkwo, to succeed Emuwa. The appointment is however, subject to the approval of the Central Bank of Nigeria. Commenting on his retirement, Emuwa said:

“I have enjoyed the significant challenge of leading Union Bank over the last eight years. I am extremely proud of the management team and what we have been able to accomplish during my time as CEO

“Today, we have a strong bank that is well positioned to compete and deliver on its vision to be ‘Nigeria’s most trusted and reliable partner.’

” With a clear strategic direction, a growing and loyal customer base and a strong brand, this is now the natural time for the next generation of leadership to take Union Bank forward and deliver further value.”

Continuing, he pointed out that with over three decades of banking, his time at Union Bank has been one of the richest experiences in a long and fulfilling career with a treasure of work and life lessons to

carry into the future.

“Together as a team, we scaled many hurdles and accomplished significant feats and I would like to thank my Executive team, senior management and every one of our employees for their integrity, support and hard work that have brought Union Bank to where it is today.

“I would also like to thank the Board for the opportunity to lead this storied institution that has impacted generations of Nigerians for over a century and for supporting our efforts and vision during my tenure.

“As we begin the transition into a new era of leadership under Emeka Okonkwo, a consummate professional with the right experience and values, I know that Union Bank will continue on its path as a values driven organisation that is deeply committed to our customers and the communities we serve,” he added.

Prior to joining Union Bank, Emuwa led a distinguished 25-year career at Citibank.

Following several senior roles in Nigeria and across Africa, he became the first Nigerian to

be named Country Officer and Managing Director of Citibank Nigeria.

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