Stanbic IBTC Bank, a member of Standard Bank Group, has announced four key appointments aimed at skills rotation and bringing different strengths to bear on the continuing growth of the organisation.

There are Mr. Obinnia Abajue, Dr. Demola Sogunle Wole Adeniyi and Steve Elusope,

Mr. Abajue now Head of the Personal and Business Banking division of Stanbic IBTC Bank, which will take effect in October 2011, was until recently the acting Chief Executive Officer of Stanbic IBTC Pension Managers Limited.

Abajue will be succeeding Mr. Jacques Troost, current Executive Director of the Personal and Business Banking division, who is taking up another role within the Group.

Dr. Sogunle replaces Abajue as substantive Chief Executive Officer at Stanbic IBTC Pension Managers Limited, while Mr. Steve Elusope, who in addition to his many contributions in various areas within the organisation over the years, and also one time Financial Controller, becomes Executive Director of Stanbic IBTC Pension Managers Limited.

Mr. Adeniyi, previously heading the Business Operations department and more recently, leading the team of experts responsible for the organisation’s recent software replacement, has been appointed Head, Business Support, succeeding Marna Roets, the erstwhile Executive Director of Business Support, who is taking up a new appointment within the Group.

Abajue, who played an active role in the growth of the Stanbic IBTC Wealth Group, arrives at the Personal and Business Banking helm at a time that Stanbic IBTC is widening its presence in the retail segment of the market through strategic branch and product expansion especially with the recent acquisition of a mobile payment license, which will enable the organization provide cashless services to the unbanked population in Nigeria.

His extensive experience in asset management, relationship management and corporate finance will be pivotal in managing Stanbic IBTC Bank’s retail business.

As Chief Operating Officer of Stanbic IBTC Pension Managers Limited, he managed the design and implementation of the PFA’s pension management and administration strategy and on becoming acting CEO in 2009, superintended the remarkable growth in the company’s profits, client base and assets under management.

He was previously Head of Asset Management at Stanbic IBTC Asset Management Limited where he was responsible for managing the investment portfolios of institutional and high networth clients.

Having headed the Treasury and Financial Services Department within the bank, including overseeing the Group Risk Management and Compliance functions, Dr. Sogunle’s over 22 years experience in various aspects of banking, is expected to further impact positively on the operations of Stanbic IBTC Pension Managers Limited..

As Executive Director, Operations, Elusope’s over 22 years of cognate financial sector experience, will aptly complement Sogunle’s to create a management matrix that will consolidate and grow a business largely known as a service provider of repute and trust, a safe haven for pension funds.

With over 18 years of both domestic international and banking operations experience, Adeniyi possesses exceptional executive management resource, and has worked in various capacities within the bank, having acted as key driver in ensuring a seamless integration of the bank’s operations during the merger, and more recently, driving the successful implementation of the bank’s core banking software change.

Mrs. Sola David-Borha, Stanbic IBTC’s Chief Executive Officer, stated that the appointments will help strengthen the current upswing in operations as the bank continues its network expansion, with the introduction of new products, geared at providing a variety of products and services to its growing customer base.

”We believe that we will realize significant benefits from these alignments and remain on track to maintain our strategic growth in 2011 and beyond,” stated Mrs. David-Borha, noting that the group has adapted a business model that will effectively leverage on opportunities created by the ongoing changes in the banking industry and the economy at large.