Two New Non-Executive Directors Join Wema Bank

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Wema Bank has announced the appointment of two Non-Executive Directors to its Board of Directors following the approval of the Central Bank of Nigeria.

The two new directors are Prince Olusegun Adesegun and Mr Adeyemi Adefarakan, both of whom are bringing a wealth of corporate administrative experience to the bank. Prince Olusegun Adesegun is a Psychologist with a Masters’ Degree in Industrial Psychology from the University of Ibadan.

He worked in Pyramid Products Limited, starting as Manager in Training and rose to become the General Manager of the then Eastern Zone in 1988. Upon retirement, he engaged in private business and has over time garnered experience in marketing administration, management, and supply chain logistics solutions.

He eventually became the CEO of Pecol Ventures Limited – a cash crop export and paper products company which he helped grow from a small producer to a large, world-class Agric-Export firm.

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Between 2011 – 2015, Prince Olusegun Adesegun served as the Deputy Governor of Ogun State. He is currently a Career Counsellor and Consultant for high-quality investment decisions. In a career that spans 20 years, Adeyemi Adefarakan joins Wema Bank’s Board of Directors with valuable experience in global investment banking, portfolio risk, asset, and financial management exposure.

He graduated with a BSc (Hons) in Economics & Accountancy from the prestigious City University, London, and holds a master’s degree in International Securities, Investment & Banking from the acclaimed ICMA Centre at the University of Reading, U.K. He is also an alumnus of the Emerging CFO: Strategic Financial Leadership Programme at Stanford Graduate School of Business, USA, and currently pursuing a Global CEO Africa Programme in the triumvirate of business schools comprising Lagos Business School, Strathmore Business School (Nairobi, Kenya) and Yale School of Management (Connecticut, USA).

He forged his career on the trading floors of some of London’s financial powerhouses including State Street Global Markets, DRW Investments, JP Morgan Chase, Deutsche Bank and HSBC Global Asset Management. In his years in London, he traded both vanilla and complex instruments and risk-managed multi-billion-dollar multi-asset portfolios.

Mr Adeyemi currently serves as the Group Chief Financial Officer and an Executive Director on the board of CBSL (Continental Broadcasting Service Limited) alongside other board positions where he creates and extracts shareholder value through active board engagement.

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Speaking on the appointments, Mr Ademola Adebise, MD/CEO of Wema Bank said: “It thrills us to welcome the new appointees to the Board of Wema Bank. The decision to appoint Mr Yemi and Mr Olusegun is because of their wealth of experience in corporate and public administration which is key to the success of the Board of Wema Bank.

We believe their skills and industry will be valuable to the bank as we work to actualize our goals of becoming the Most Dominant Digital Banking Platform in Nigeria.”

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