Segun Agbaje As Goldstandard


There is an agreement among banking professionals and the banking public is that one of today’s first tier banks in Africa, Guaranty Trust Bank Plc has been groomed to become a foremost African financial institution and a leading global brand and model to its peers.
In the last 15 years, the bank has made remarkable imprints in the shaping of the African economy, setting the pace for innovative banking in Nigeria and beyond. The at the commanding height of affairs at the bank is Mr. Segun Agbaje, the managing director/chief executive officer.
Appointed acting managing director of the bank in April 2011 and confirmed on June 22, 2011, Agbaje has emerged to be a symbol of professionalism among bankers, whose touch has earned GTB the rightful place it occupies in global arena.
Agbaje’s GTB is stable against vulnerability with solid financial and asset base, yet the bank’s financial record is on steady meteoric rise.
Despite the economic downturn that stifled the Nigerian 2016 businesses year, the bank under the leadership of Agbaje posted gross earning of N414.6 billion for in the year 2016. Compared with the N301.9 billion profit record in 2015, the 2016 result represented 37 per cent profit growth.
Although the bank recorded operating expenses of N65.5 million, compared to N54.9 million recorded in 2015, its books remained green all through the year, with a record of N132.2 billion as profit for the year in review against N99.4 billion recorded same period 2015.
Within the six years of his leadership, the bank has earned first rate awards and endorsements from local and foreign industry brands. Not too long ago, GT Bank earned an award as the ‘Best Private Banking Services, Best Commercial Banking Capabilities & Best Net-worth Specific Services in Africa,’ during the Euromoney Private Banking Awards. The award held early this year at the Plaisterer’s Hall, London, United Kingdom (UK).
Product innovation and service delivery to private banking clients were used as barometer for the award. About 700 banks took part in the survey, 2,951 valid responses were received, representing a 12.8 per cent increase from last year figures. The survey covers 15 different products and client categories on global and regional bases, and has ranking results in 70 countries.
For private banking editor of the awarding company, Helen Avery, “GTBank’s recognition in three categories was a testament to the thorough work the bank was doing to deliver the utmost in banking services to its private banking clients. It is hard enough to win in just one category, but to emerge victorious in three, clearly showcased the strength and efficiency of its value proposition to this particular segment of its customer base.”
It could be recalled that in 2015, Agbaje was awarded “West Africa’s Business Leader of the Year” during the 2015 All Africa Business Leaders Awards (AABLA). The All Africa Business Leaders Awards in partnership with CNBC Africa recognize individuals who have made profound impact in their respective areas by demonstrating innovation, integrity, accountability and adherence to global best standards.
Managing Director of the ABN Group, CNBC Africa, Roberta Naicker noted that: “In winning this award, Segun Agbaje epitomizes the core values of a successful leader; strength, innovation, ingenuity, knowledge and foresight – values that are imperative to creating and sustaining a business within the Pan-African and global economy.”
A detailed look at his achievements as a professional banker shows that Agbaje stands out as a preferred employee for any serious financial establishment across the globe. Though not at the helm of affairs then, Agbaje was central in putting together Guaranty Trust Bank’s landmark $350million Eurobond offering in 2007 and later that year, the listing of its $750 million Global Depository Receipts (GDR) in an unprecedented concurrent global offering in the domestic and international capital markets – which made Guaranty Trust Bank the first Nigerian company and first bank in Sub-Saharan Africa to be listed on the Main Market of the London Stock Exchange.
In 2011, he led GTBank to launch the first Sub-Saharan Africa financial sector benchmark Eurobond when the bank launched its USD500million Eurobond without a sovereign guarantee or credit enhancement from any international financial institution.
A think-tank of business ideas, Agbaje is an undeniable asset who takes referrals for knotty issues that engage the Nigerian business environment. He initiated and led the execution of large, innovative and complex transactions in financial advisory, structure and project finance, balance sheet restructuring and debt and equity capital raising in several sectors of the Nigerian economy notably in oil and gas, energy, telecommunications, financial services and and manufacturing. In addition, he helped in developing the Interbank Derivatives market amongst dealers in the Nigerian banking industry and introduced the Balance Sheet Management Efficiency system.
He has over 20 years investment and international banking experience. The GTBank’s CEO is a highly respected professional within the West Africa sub-region, given his diverse experience in the financial services industry.
Prior to joining the bank as a pioneer staff in 1991, he worked with Ernst & Young, San Francisco, USA. He rose through the ranks to become an executive director in January 2000, and deputy managing director in August 2002. His accelerated rise in the bank was in the light of his diverse background, experience and expertise in almost several areas of the bank’s activities that included commercial banking, investment banking, treasury, corporate planning and strategy, settlements and operations.
Mr. Agbaje serves on the boards of several other notable companies including Guaranty Trust Bank (Ghana) Limited, Guaranty Trust Bank (Gambia) Limited, Guaranty Trust Bank (UK) Limited and also a director on MasterCard Advisory Board Middle East and Africa.
He is an alumnus of the Harvard Business School and holds a Bachelor of Science and a Masters in Business Administration from the University of San Francisco, USA.
Source: News


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