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HomeCompany NewsAccess Bank transits to Holding Company, appoints Wigwe Group CEO

Access Bank transits to Holding Company, appoints Wigwe Group CEO

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Access Bank Plc announced major changes in its structure as it transit to a Holding company, consolidating the operations of the commercial banking group into a holding company.

Herbert Wigwe, who until now was the group chief executive of the commercial bank has now been named the Group chief executive of the Holding company while Roosevelt Ogbonna, who was the deputy to Wigwe is now the new managing director of the commercial banking arms of the Holdco.

The changes become inevitable as the bank completed its transition from a commercial banking group to a holding company (Holdco).

READ ALSO: https://globalfinancialdigest.com/ahead-of-2023-election-ex-kano-gov-kwankwaso-dumps-pdp/

Access Bank Limited has been delisted from the board of Nigerian Exchange Group, and replaced with Access Holdings (Accesscorp).

Access Bank, the precursor of Access Holdings, is known for its deft acquisition deals and many analysts see the new Holdco playing major roles in shaping the African economic landscape. The group has already hinted it intends to play leading roles in retail payment, financial technologies (fintechs) and specialised financial vehicles, among others.

Others also announced are:  Victor Etuokwu (deputy managing director, Retail, North for Access Bank and Mrs. Chizoma Okoli (Deputy Managing director, Retail, South).

A total of 35.545 billion shares of Access Bank was delisted and relisted in the name of Access Holdings after the same was duly credited to shareholders in proportion to their holdings, as sanctioned by the scheme of arrangement for the transition.

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