Skye Bank Plc has appointed Timothy Oguntayo as the new managing director/ chief executive officer of the bank. It has also appointed Amaka Onwughalu as the deputy managing director of the bank, with effect from April 15, 2014.
The bank had notified the Nigerian Stock Exchange (NSE) that its board of directors, at a meeting held on Monday, April 14, 2014, approved the retirement of Kehinde Durosinmi-Etti, the bank’s group managing director/chief executive officer, to take effect from August 1, 2014.
Timothy Oguntayo is an alumnus of the prestigious INSEAD, Fontainebleau in France and a Fellow of the Chartered Institute of Bankers of Nigeria. He is also an Associate of the Institute of Chartered Accountants of Nigeria and has over two decades of banking experience in corporate finance and investment banking, business development, credit and marketing and operations.
He was appointed to the board of the bank on August 18, 2009 and was the pioneer MD/CEO of Skye Financial Services Limited (the investment banking arm of Skye Bank) before the bank divestment from the company in 2012. He also served on the board of Skye Stockbrokers Limited and Law Union & Rock Insurance Plc. Oguntayo is currently a director on the board of akawa Discount House Limited.
Prior to this appointment, Oguntayo was the bank executive director responsible for the supervision of corporate and investment banking group, commercial banking in the South-West region and all the international banking subsidiaries of the bank.
Onwughalu, the newly appointed deputy managing director, was appointed to the board of the bank on November 30, 2008 as an executive director. She is an astute banking professional with over 25 years experience and expertise in commercial banking, retail banking, treasury management and banking operations, amongst others. She rose to the position of acting managing director of Reliance Bank Limited in April 2005, prior to its merger with Skye Bank Plc in 2006.
