Ecobank appoints Ayeyemi as new Group CEO

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Ecobank Transnational Incorporated, the parent company of the Ecobank Group, on Monday announced the appointment of Ade Ayeyemi as its new group chief executive officer, with effect from September 1, 2015.

Mr. Ayeyemi, 52, would replace Albert Essien, billed to retire on June 30, 2015 after 25 years of service with the group.

Ecobank board would make an interim arrangement for the management of the group between July 1 and August 31, pending the resumption of the new GCEO.

Mr. Ayeyemi has worked with Citigroup for several years and rose to his current position as Chief Executive Officer of the company’s sub-Saharan Africa division, based in Johannesburg.

An accounting graduate of the Obafemi Awolowo University, Ile-Ife, Nigeria, Mr. Ayeyemi also studied at the University of London and Harvard Business School’s Advanced Management Programme.

Ecobank Group Chairman, Emmanuel Ikazoboh, said after an extensive search throughout the African continent, he was found the best person to lead Ecobank through the next phase of its development and beyond as a world-class pan-African bank.

“Ade is a truly outstanding individual with deep knowledge of banking across Africa, and we welcome him to the Board,” Mr. Ikazoboh said.

Mr. Ikazoboh also thanked Mr. Essien for his service as group chief executive officer over the past year.

On his part, Mr. Ayeyemi expressed delight with the opportunity to lead the bank, and commended Mr. Essien for his legacy work in helping Ecobank grow as a premier pan-African financial institution.

“Ecobank has an exceptional platform, great people, solid strategy and strong momentum,” he said. “I sincerely look forward to work with the management team, the Board of Directors, and the employees of Ecobank as we set new standards in financial services for our clients across the board.”

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