Guaranty Trust Bank Plc (GTBank) has revealed that it will be concluding the process for selecting a new MD/CEO by the fourth quarter of 2020.
The Managing Director of Guaranty Trust Bank Plc, Segun Agbaje made this known on Monday, September 7.
Agbaje has served the bank as the managing director for 10 years and his term ends this year.
Recall that the bank had announced in the year that it was looking to transform into a Holdco.
Providing an update into the bank’s succession plans at an investor earnings call session on Monday, Agbaje said, “What we are looking for now is a Managing Director for Guaranty Trust Bank Nigeria.
“The process has started, we have 5 executive directors and so all of them are going through the process at the moment.
“We are working with a consulting firm in the UK where we are looking for based upon what we see for the Nigeria business, what we think the future will hold.
“What we think Nigerian Banking will look like, we will then at the end of this process which will end at the beginning of the fourth quarter, we will then have a Managing Director for GT Bank Nigeria.
“We have 5 executive directors going through the process and one will emerge before the end of the fourth quarter. So succession for GT Bank Nigeria is well under control.”
Agbaje added that the plan is in line with the bank’s succession plan, 5 of its executive directors are in line for the top job and are at the concluding stages of the recruitment process.
Agbaje maintained that everything was going as planned and expected that they would pick an MD/CEO by the beginning of the fourth quarter which is in October.