Date Published: 01/23/10

Lagos: United Bank for Africa Plc - Appointment of New Group Chief Executive Designate

Phillips Oduoza

The Board of United Bank for Africa Plc announces the appointment of Mr. Phillips Oduoza as Group Chief Executive Designate

Mr. Oduoza has over 22 years experience in Banking and Financial Services spanning Banking Operations, Relationship Management, Credit/Marketing, Technology Implementation, Risk Management, Lean Banking Methods and Brand Management. Prior to this appointment, Phillips Oduoza was the Bank’s Deputy Managing Director overseeing its operations in the South, which is the UBA Group’s largest strategic business group. He will commence as the Group Chief Executive of the Bank on August 1, 2010. In the interim, Mr Oduoza will work in tandem with Mr. Tony Elumelu, current Group Chief Executive of UBA to ensure that the transition is seamless.

“UBA has grown to be an African financial institution in a short period of time, redefining banking not just in Nigeria, but across Africa” said Tony Elumelu “Phillips, in conjunction with the extremely strong Executive team that surrounds him, will play a determining role in delivering on the promises we have made to our customers, shareholders and staff. His appointment, from an extremely able team, is also a tribute to UBA’s longstanding commitment to nurturing talent and ensuring orderly succession planning”. Mr. Oduoza’s appointment coincides with the opening of UBA’s Zambian operations - the first Southern African business unit for the Group, emphasizing UBA’s vision of bringing world class banking services to all regions of Sub-Saharan Africa and follows its successful openings in Kenya, Uganda and Tanzania.

Phillip Oduoza is an accomplished scholar with a First Class Degree in Civil Engineering and an MBA (Finance) from the University of Lagos. He is also an Alumnus of the Advanced Management Programme of the Harvard Business School amongst other world class trainings.

Commenting on his appointment Mr Oduoza said: “I am honoured to be called upon to fulfill the role of Group Chief Executive at this defining moment in the bank and indeed the Nigerian financial services industry. The UBA Group has a very clear strategic path, one that I was a part of the team that defined it and I look forward to playing my part in achieving those goals with determination, responsibility and hard work.”

In addition, to Mr. Oduoza’s appointment as Group Chief Executive, the following appointments to the Board were also announced: Femi Olaloku – Executive Director and Group Chief Operating Officer; Kennedy Uzoka, Executive Director - Nigeria South; and Ifeatu Onejeme Executive Director with responsibility for Treasury, Corporate and Investment Banking and the Group’s operations outside Africa.

·         Victor Osadolor as Deputy Managing Director. Victor joined Standard Trust Bank in 2000 as Divisional Director, Strategy and Support, and was later appointed Executive Director in June 2002. An alumnus of Harvard Business School's Advanced Management Programme and a fellow of The Institute of Chartered Accountants of Nigeria (ICAN) Victor co-chaired the team that managed the STB-UBA integration programme and has been a key member of our senior management team since that transaction was completed. He is currently Executive Director/Group Chief Finance Officer.

·         Femi Olaloku as Executive Director/Group Chief Operating Officer overseeing IT, Operations, Global Shared Services and the Customer Service Group.  Femi holds a degree in Civil Engineering and a Masters in Business Administration from the University of Lagos. He has over 19 years of Banking and Financial Services experience, spanning Operations and Information Technology, Risk Management, Operations Controls, Trade and Treasury Operations. He has held several top management positions during the course of his career, including Senior Vice President, Operations Controls and Information Security, Citigroup Sub Saharan African Division and Vice President, Trade, Treasury, Ops and Citiservice, Nigerian International Bank Limited. He joined UBA in 2006 as the General Manager, Information Technology. He is currently the Group Director, Operations & Information Technology.

·         Kennedy Uzoka as Executive Director UBA Nigeria South, the largest strategic unit within the Group. Kennedy has a B.Sc. in Mechanical Engineering from the University of Benin and an MBA (Finance) from the University of Lagos. A multiple awards winner, Kennedy brings a unique set of experience which spans over two decades in marketing, business strategy and resources management to the Executive team. He was at different times Head, Strategy & Business Transformation of UBA Group and later Regional Bank Head, South Bank covering over 17 states in southern part of Nigeria. He is an alumnus of Harvard Business School in Boston, USA, International Institute of Management Development (IMD) in Lausanne, Switzerland and the London Business School, UK. Kennedy is currently the Group Director of Resources with responsibility for Human Capital Management, Marketing & Corporate Communications and Corporate Services group wide.

·         Ifeatu Onejeme as Executive Director, International Banking and Financial Services. Ifeatu holds a First Class degree in Accountancy from the University of Nigeria and is a fellow of The Institute of Chartered Accountants of Nigeria (ICAN). He is also an Alumnus of several globally-acclaimed educational institutions such as Wharton Business School of the University of Pennsylvania, University of Chicago Graduate School of Business and Lagos Business School and has over 23 years of Banking and Financial Services experience spanning Operations and Information Technology, Treasury, Corporate Banking, Commercial and Consumer Banking, Risk Management, Human Resources Management and General Administration.

All the appointments are subject to the approval of the Central Bank of Nigeria.

About UBA Plc

United Bank for Africa Plc is one of Africa’s leading financial institutions offering universal banking to more than 7 million customer accounts. The opening of UBA Zambia brings to 15 the number of African countries where UBA Group has presence: Nigeria, Ghana, Uganda, Kenya, Tanzania, Cameroon, Côte d'Ivoire, Liberia, Sierra Leone, Senegal, Burkina Faso, Chad, Benin and Gabon together with presence in New York, London and Paris.

UBA has over the past year rapidly expanded its network, positioning itself as the bank of choice for wholesale and retail clients in Africa and for Africa related businesses, demonstrating in action its positioning as “Africa’s Global Bank”. The physical expansion has been matched by the launch of a series of products designed specifically to address the key needs of African clients, whether individuals, companies or governments, in facilitating money transfer and cash management, trade finance and access to credit.

Martin C.Anyanwu

Director, Group Marketing and Corporate Relations United Bank for Africa Plc, UBA House(3rd floor),57 Marina Lagos, Nigeria

Tel: Office +234-2644651-700 Ext.18035

Mobile: +2347034080142

martin.anyanwu@ubagroup.com

www.ubagroup.com

...Africa's global bank