{"id":30593,"date":"2014-08-27T05:23:10","date_gmt":"2014-08-27T04:23:10","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=30593"},"modified":"2014-08-27T05:23:10","modified_gmt":"2014-08-27T04:23:10","slug":"uba-group-appoints-tony-elumelu-chairman","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/uba-group-appoints-tony-elumelu-chairman\/","title":{"rendered":"UBA Group Appoints Tony Elumelu as Chairman"},"content":{"rendered":"<p><span style=\"color: #000000;\">The Board of United Bank for Africa Plc (UBA) has announced the<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">appointment of Mr. Tony O. Elumelu, C.O.N. as Chairman, succeeding<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Ambassador Joe Keshi.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Mr. Elumelu is Chairman\/CEO of Heirs Holdings, the pan-African proprietary<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">investment company, founded by Mr. Elumelu in 2010, which holds stakes in<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">a number of leading African businesses, including Transcorp, Nigeria\u2019s<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">largest listed conglomerate by market capitalization, as well as UBA.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Elumelu retired as Group Managing Director and CEO of UBA in 2010,<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">following the introduction by the Central Bank of Nigeria of 10-year<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">tenure limits for bank CEOs. He had served as CEO of the UBA Group for 13<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">years, where he was responsible for the creation of today&#8217;s UBA, a<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">financial services institution that built a reputation for innovation and<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">the democratisation of banking services and now spans Africa, providing<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">services to more than 10 million customers, across the continent and in<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">London, Paris and New York.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Widely regarded as one of the most influential business leaders in Africa,<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Elumelu has developed a reputation for identifying value and bringing a<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">long term investment orientation and discipline to sectors critical to<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Africa&#8217;s development, including financial services, power, oil and gas,<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">agribusiness, real estate and hospitality. As the founder of the Tony<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Elumelu Foundation, an Africa-based and African-funded philanthropy, Mr.<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Elumelu is committed to the promotion of entrepreneurship in Africa, based<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">on his championing of Africapitalism, the philosophy that the African<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">private sector is the critical enabler of the continent&#8217;s economic and<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">social transformation.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">The Chairmanship of UBA will complement Mr. Elumelu\u2019s existing positions<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">with other Heirs Holdings\u2019 portfolio businesses, including the<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Chairmanships of Tenoil Petroleum &amp; Energy Services Limited and Seadrill<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Limited.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">\u201cTony Elumelu&#8217;s track record at UBA speaks for itself,\u201d said Mr. Phillips<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Oduoza, Group Managing Director\/CEO UBA. \u201cHis return to the Board brings a<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">depth of knowledge and experience in the African financial services<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">industry that is second to none. We are privileged to have him lead the<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Board at this critical stage in our development.\u201d<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Analysts and leaders of shareholder groups also welcomed Mr. Elumelu&#8217;s<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">return.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">\u201cBanking in Africa is a dynamic, exciting and an increasingly competitive<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">and challenging industry,\u201d said economic and financial analyst, Mr.<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Bismarck Rewane, Chief Executive of Financial Derivatives. \u201cTony is<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">visionary, courageous and has shown an ability to both, think for the long<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">term, and to create significant shareholder value. The drive, dynamism and<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">competitiveness that we saw during his period as CEO of UBA, was one of<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">the catalysts of the enormous changes in the Nigerian banking sector,\u201d he<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">said.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Dr. Farouk Umar, President, Association for the Advancement of Rights of<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Nigerian Shareholders (AARNS) said, \u201cWe are delighted with this<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">appointment. It bodes well for UBA and the banking industry, now and in<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">the future. Elumelu is a transformer and value creator for shareholders.<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">We are excited about his return.&#8221;<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">With operations in 19 African countries and presence in New York, London<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">and Paris, UBA is one of the largest financial services institutions in<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Africa. The Bank recently unveiled its Project Alpha, a 3-year road map of<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">key transformation initiatives, designed to consolidate the Group&#8217;s<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">strategic positioning and fully exploit the opportunities provided by<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Africa&#8217;s economic renaissance and the UBA Group&#8217;s unique platform.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">&#8220;I am very much looking forward to returning to the Group &#8211; UBA represents<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">a tremendous investment opportunity, and is at an inflection point in its<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">growth path. We have an extremely powerful executive team and I am looking<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">forward to bringing my experience and energy, to guide UBA\u2019s long-term<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">strategy.\u00a0 Financial services remain one of the key drivers of African<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">growth, both in terms of social inclusion and regional integration, and<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">the UBA Group provides a unique platform to deliver both extraordinary<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">value and drive Africa\u2019s economic success.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">\u201cI would also like to thank my predecessor, Ambassador Keshi and the<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">entire board for their contributions to the growth and development of the<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">bank,\u201d Mr. Elumelu said.<\/span><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Board of United Bank for Africa Plc (UBA) has announced theappointment of Mr. Tony O. Elumelu, C.O.N. as Chairman, succeedingAmbassador Joe Keshi.Mr. Elumelu is Chairman\/CEO of Heirs Holdings, the&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":30594,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-30593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>UBA Group Appoints Tony Elumelu as Chairman - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/uba-group-appoints-tony-elumelu-chairman\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UBA Group Appoints Tony Elumelu as Chairman - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The Board of United Bank for Africa Plc (UBA) has announced theappointment of Mr. Tony O. 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