The Managing Director/Chief Executive Officer, Segun Oloketuyi, will be proceeding on terminal leave from 1 July 2018 and subsequently retire with effect from September 30, 2018, following almost a decade at the helm of the Bank.
Oloketuyi was named Managing Director/Chief Executive Officer of Wema Bank Plc in June 2009, with the task of returning the Bank to profitability following the 2008 banking crisis which saw the collapse of many banks. At the time, Wema Bank had negative capital in excess of N66 billion and was declared a bank in grave financial situation by the regulatory authority.
However, under his leadership, the fortunes of the Bank have been completely turned around, leading to the recapitalization of the Bank and its return to profitability. The Bank is now positioned to deliver dividends to shareholders.
As part of a turnaround plan which Mr. Oloketuyi led, the Bank also regained its national banking license from the Central Bank of Nigeria, which has allowed it to expand to the Northern and Eastern parts of the country, significantly increasing its market share and customer base in the process.
The outgoing Wema Bank MD prioritized the use of technology to deliver improved service to customers, culminating in the launch of ALAT, which offers branchless banking services.