The former Group Chief Executive Officer of UBA Capital Plc, Rasheed Olaoluwa, has been appointed the new CEO of Nigeria’s Bank of Industry, BoI.
Olaoluwa’s appointment came following the retirement of Dr. Evelyn Oputu, who retired as CEO of the bank on April 17th after nearly a decade of service. Until his appointment, Olaoluwa was the Group Director, Financial Services at Heirs Holdings, the African proprietary investment company chaired by Tony O. Elumelu.
Olaoluwa has had an illustrious career within the financial services sector. A highly experienced, professional banker, Olaoluwa started his career at Arthur Andersen where he qualified as a Chartered Accountant. He has played senior roles in banking, leading up to his appointment as the MD/CEO of the erstwhile Universal Trust Bank Plc, prior to joining United Bank for Africa (UBA) in 2006.
As an executive director at UBA between 2007 and 2011, as well as the CEO of UBA Africa, Olaoluwa played a key role in the expansion of UBA’s operations into 18 countries in sub-Saharan Africa within three years, recording exponential growth in the bank’s deposit base and profitability during his tenure. As a result of this, he was appointed Group CEO of UBA Capital Plc, a leading pan-African asset management and investment banking group. He holds a first class honours degree in Civil Engineering from the University of Ife and an MBA from International Graduate School of Management, Spain.
Commenting on his appointment, Olaoluwa said in a press statement that “It is a privilege to have been selected by the presidency to fulfil the mandate of this position. I thank President Goodluck Jonathan for this recognition of my life’s work, and the opportunity to build an institution that can ably and permanently transform Nigeria’s industrial sector.’’
“I would also like to commend the Minister of Trade and Investment, Mr. Olusegun Aganga, for his commitment to the industrialisation of Nigeria and his support for all activities geared towards meeting this goal.”
“I am honoured to be joining Bank of Industry at this dynamic time in our nation’s development, as we continue to progress in stature and relevance in the global economy” he concluded.
