FirstBank appoints Iyamabo as chief executive

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First Bank of Nigeria Limited has announced the appointment of Mr. Patrick Iyamabo as Executive Director. The appointment is subject to the approval of the Central Bank of Nigeria (CBN).

Prior to Mr. Iyamabo’s appointment as Chief Executive Officer of FirstBank, he served as Chief Financial Officer of FirstBank and its subsidiaries, having joined the Bank in August 2016 from First City Monument Bank Limited, where he was served as Senior Vice President of Strategy and Mergers & Acquisitions. then Group Chief Financial Officer of FCMB Holdings.

According to a statement from the bank, Iyamabo joined FirstBank as part of the effort to strategically turn around the group and address the fundamental challenges facing the institution at the time.

“He was responsible for the strategic direction and oversight of financial control, internal control and improvement, purchasing, corporate/administrative services, business performance monitoring, finance and capital management. subsidiaries and enterprise data management and analytics function,” the statement said.

He added that with over 27 years of professional experience in insurance, risk management, business development, accounting and finance with Nigerian and multinational institutions within and outside the country, the new executive director previously worked at Arthur Andersen (“AA”) as an auditor and strategy consultant, where he was a co-founding member of AA’s Information Risk Management practice.

On several occasions, he worked with Booz Allen Hamilton in New York and LEK Consulting in Boston, providing specialized strategic management and corporate finance services to private and public companies.

Speaking on the appointment, Dr. Adesola Adeduntan, Chief Executive Officer of FirstBank, said: “We are delighted with the appointment of Mr. Patrick Iyamabo, as his elevation to the Board of Directors depends on his excellent track record and level of commitment he has shown to the FirstBank Group. Since joining FirstBank, Mr. Iyamabo has played a key role in repositioning the group and has remained at the forefront of delivering the Bank’s strategic objectives as we have collectively increased our impact by driving the ‘financial inclusion and providing Nigerians with world-class financial services’.

Mr. Iyamabo holds a Bachelor of Pharmacy (B.Pharm) from Ahmadu Bello University and a Masters of Business Administration (MBA) with dual major in Finance and Strategic Management from The Wharton School, University of Pennsylvania . He also completed specialized programs at Harvard Business School and the Wharton School.

He is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA); Fellow, Chartered Institute of Taxation of Nigeria (FCITN); Member, Pharmaceutical Society of Nigeria; Honorary Principal Member of the Chartered Institute of Bankers of Nigeria (HCIB); and Fellow of the Institute of Directors of Nigeria (M.IoD).

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