After 35 years on the board, Atedo Peterside has retired from Standard Bank Group Limited in South Africa.
Via his X handle, he stated, “Today was the Annual General Meeting of Standard Bank Group Limited and I opted not to be re-elected as a Director. The retirement age is actually 70, but I believe 35 years is enough & the succession plans have worked well.”
At sixty-eight, he is going to retire. In February 1989, at the age of thirty-three, Peterside established Stanbic Investment Banking & Trust Company Limited (IBTC). Up until 2007, he was the Bank’s CEO.
Following the online news stories, in order to become a universal bank on December 19, 2005, IBTC chose to raise additional capital and acquire two commercial banks, Chartered Bank Plc and Regent Bank Plc, in order to comply with the Central Bank of Nigeria’s 2005 order requiring all commercial banks to have a N25 billion minimum capital base. Afterwards, it became IBTC Chartered Bank Plc.
On 24 September 2007, IBTC Chartered Bank Plc amalgamated with Stanbic Bank Nigeria Limited to establish Stanbic IBTC Bank Plc, and he was elected Chairman of Stanbic IBTC Bank in October 2007.
Beginning in August 2012, Peterside served as Group Chairman of Stanbic IBTC Holdings Plc. On March 31, 2017, after supervising several regulatory matters to their conclusion, he announced his resignation.
Peterside completed his secondary schooling at King’s College in Lagos, earned a B.Sc. in Economics from The City University in London, and earned an M.Sc. in the same field from the London School of Economics and Political Science.
