The Board of Union Bank Nigeria Plc, on Monday, announced that, after eight years leading the Bank, its Chief Executive Officer, Emeka Emuwa, has communicated his decision to retire on March 31, 2021.
With his imminent departure, the Board has appointed Emeka Okonkwo, an Executive Director currently leading the Bank‘s Corporate Banking business, to succeed him. The appointment is subject to the approval of the Central Bank of Nigeria.
Emeka 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.
Commenting on his retirement, Emeka 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.“
Prior to joining Union Bank, Emeka 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.
On his retirement, Emeka Emuwa will also step down from the Board of Union Bank. Union Bank’s Chair, Beatrice Hamza Bassey, said; “On behalf of the Board, I would like to thank Emeka Emuwa for leading Union Bank during the last eight years. His exceptional contribution to the transformation of the business produced excellent results and set a solid platform for growth.
“The Board is pleased to have Emeka Okonkwo as incoming CEO. Having been a key contributor to the achievements of the Bank over the past seven years as an Executive Director, Emeka Okonkwo is well suited to lead Union Bank’s next phase of growth. The Board and I look forward to working with him to execute our strategy and deliver value to all stakeholders in the years ahead.”
Emeka Okonkwo is a seasoned banker with 30 years of experience. He joined Union Bank in 2013 as an Executive Director to lead the Corporate Banking and Treasury business. As the Bank embarked on its transformation, he was responsible for rebuilding the business and strategically positioning Union Bank for success in the Corporate Banking space.
Mr. Okonkwo began his career at Citibank Nigeria where he rose from officer level to become Executive Director in charge of Commercial Banking and Global Subsidiaries in 2009. At Citibank, he worked across various disciplines including Corporate Finance, Credit Risk Management, Marketing, Treasury and Strategic Management in Nigeria and London.
Prior to joining Union Bank, he was the Head of the Corporate and Investment Banking Division in Citibank Bangladesh.
Emeka Okonkwo has a bachelor’s degree in Civil Engineering from the University of Nigeria, Nsukka; an MSc in Construction Management from the University of Lagos and an MBA from Warwick Business School, UK.
