Wema Bank has unveiled significant leadership changes with the appointment of Oluwole Ajimisinmi as the new Deputy Managing Director and Olukayode Bakare as Executive Director, both set to assume their roles on December 1, 2024.
This announcement, signed by the Company Secretary, Johnson Lebile, was made public on November 15, 2024, through a disclosure on the Nigerian Exchange (NGX) platform.
These appointments coincide with the impending retirement of Oluwole Akinleye, the Bank’s Deputy Managing Director, effective November 30, 2024, after a distinguished tenure spanning a decade.
The statement reads:
“The Bank hereby announces the retirement of its Deputy Managing Director, Oluwole Akinleye, effective November 30, 2024, after ten (10) years of meritorious service on the Board of the Bank. He will be succeeded by Oluwole Ajimisinmi, the Executive Director in charge of the Lagos Business Directorate of the Bank.”
Expressing heartfelt appreciation for Mr. Akinleye’s years of dedication, the disclosure further noted:
“The Board of Directors and the Management of the Bank hereby express their deepest gratitude to Mr. Akinleye for his invaluable contributions and unwavering commitment to the Bank’s mission and vision.”
Oluwole Ajimisinmi: Deputy Managing Director
Oluwole Ajimisinmi holds a first degree in Law from the University of Jos and a Barrister-at-Law (B.L.) qualification from the Nigerian Law School.
Ajimisinmi’s educational background includes the General Management Program (GMP) at Harvard Business School, where he gained valuable insights into business leadership and management.
He began his journey with Wema Bank Plc in July 2009 as the Company Secretary and Legal Adviser. In recognition of his contributions, he was appointed to the Board as an Executive Director in July 2020.
Oluwole’s extensive experience in banking and corporate governance has been vital to the Bank’s operations, making him well-suited for his appointment as Deputy Managing Director.
Currently, he oversees the Lagos Business Directorate and the Remedial/Recovery Department, roles that highlight his involvement in key operational areas of the Bank. His new position places him at the forefront of Wema Bank’s ongoing efforts to strengthen its services and operations.
Olukayode Bakare: Executive Director
Olukayode Bakare is a treasury and finance professional with over 32 years of experience spanning the academic and banking sectors. His career has been focused on financial markets, risk management, and treasury operations.
He earned a degree in Economics from Ogun State University, an M.Sc. from the University of Ibadan in 1995, and an ACI Dealing Certificate with distinction from the Financial Markets Association in Paris, France.
Olukayode has attended professional programs such as the Advanced Capital Market Program at the New York Institute of Finance, Digital Transformation at IMD, Lausanne, and a negotiation course at Harvard Business School. He is also an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria.
Beginning his banking career at Ecobank Limited, Olukayode has held various roles in the industry, including serving as the pioneer Treasurer at Diamond du Republic of Benin and as Group Executive of Market Risk Management at Intercontinental Bank (now Access Bank).
Before his appointment as Executive Director, he served as the Divisional Executive overseeing Treasury, Wholesale Funding, and Global Trade Business at Wema Bank. His experience and knowledge of financial operations are expected to support the Bank’s leadership team in achieving its strategic goals.
What the Board stated
According to the disclosure, the Board expressed confidence in the expertise the new appointees would bring to Wema Bank.
“The Board is confident that with the appointments of Oluwole Ajimisinmi as Deputy Managing Director and Olukayode Bakare as Executive Director, the Bank will continue to build on its achievements and remain focused on delivering exceptional value to its stakeholders,” the statement read.