Union Bank of Nigeria Plc Announces Two New Appointments and Changes On Its Board

Union Bank of Nigeria appoints 2 Non-Executive Directors into its Board

This is to inform the Nigerian Stock Exchange (NSE), esteemed shareholders and other stakeholders of the following changes to the Board of Directors of Union Bank of Nigeria Plc:

Resignation of Executive Directors: Mr. Nath Ude and Mr. Kandolo Kasongo have informed the Board of Directors that they will be retiring on 31st March and 30th April 2020 respectively.

Appointment of Executive Directors: Additionally, the Board of Directors approved the appointments of Mrs. Lola Cardoso and Mr. Joe Mbulu as Executive Directors.

The profiles for both appointees are included for your reference.

Executive Profile – Lola Cardoso

Mrs. Cardoso is the Head of Retail & Digital Banking for Union Bank. She has over 22 years of experience in commercial banking, investment banking and consulting.

She joined Union Bank in 2013 as the Group Head of Strategy before moving on to other roles including Head of Strategy & Innovation, Chief Digital Officer and Head of Retail Distribution & Channels.

Prior to joining Union Bank, Mrs. Cardoso worked in the United States for over 15 years as an investment banker and management consultant. From 2004 to 2013, she worked with global management consulting company, AT Kearney, where she rose from Associate to Director of Strategy while advising leading organizations in 39 countries on high-level issues focused on strategy, operations and technology.

Between 1997 and 2004 she was an Investment Banking Analyst at Salomon Smith Barney and Lehman Brothers both in New York; and a Strategy Consultant and business partner with Dupont, then the world’s largest chemical and industrial company.

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Mrs. Cardoso has an MBA from the Ross School of Business, University of Michigan, USA and a Bachelor of Business Administration in Finance and Business Economics from the University of Ohio, USA.

Executive Profile – Joe Mbulu

Mr. Mbulu is the Chief Financial Officer for Union Bank and has 26 years of professional experience in banking, financial management & analysis, organizational and business transformation, strategy and operational consulting and project management.

Prior to joining Union Bank in 2016 as the Transformation Director, he was the Chief Operating Officer for the domestic bank business unit of Ecobank Transnational (ETI), where. He coordinated strategy formulation and execution for the banking group’s retail, SME, local corporate and public-sector businesses.

Before ETI, he was the Head of Strategy & Business Transformation at Bank PHB (now Keystone Bank). He was the Vice President responsible for Transformation in the global Finance Organization at Nielsen in New York.

He has worked and provided consulting services in six continents and worked for leading organizations such as McKinsey & Company, Arthur Andersen (now KPMG Nigeria) and Nielsen, the leading global media and marketing information provider.

Mr. Mbulu has an MBA (Finance & Strategy) from The Wharton School, University of Pennsylvania, an MSc Budget & Planning (Lincoln University, PA, USA) and a B. Sc. Agricultural Economics (University of Benin, Benin City, Nigeria). He is a CPA (Pennsylvania, USA) and award-winning Fellow of the Institute of Chartered Accountants of Nigeria (ICAN). He is also a certified six-sigma practitioner.