FirstBank of Nigeria Limited on Wednesday announced the appointment of Mr. Patrick Iyamabo as its new Chief Financial Officer. The appointment follows the elevation of the former CFO, Dr. Adesola Adeduntan, to the Managing Director/Chief Executive Officer of the bank.
According to a statement from the bank, Iyamabo? s appointment, which is still subject to approval by the Central Bank of Nigeria, is consistent with FirstBank?s focus on corporate governance and best practice, and ensuring a balance of knowledge, judgment and experience at the highest decision making level in the bank.
?The bank?s corporate governance focus has earned it much respect and recognition, both locally and internationally,? the statement noted.
Patrick started his career with Arthur Andersen (now KPMG Professional Services) as an auditor in the banking and finance practice, and rose to the position of Experienced Manager in the assurance and risk consulting practice, before he left the country for further studies abroad.
At various times, Patrick also worked with Booz Allen Hamilton (New York) and LE.K Consulting (Boston) as an experienced strategy and M&A consultant, advising private and listed corporations in the United States. He returned to Nigeria in 2007 to join the First City Monument Bank Plc as the vice president/head, Strategy and Mergers & Acquisitions.
The statement from the bank read in parts, ?He led the acquisition, restructuring and merger of the FinBank Plc with the FCMB in 2012, where he was the chief financial officer / integration director on secondment from the FCMB.
?Until his appointment, Iyamabo was the chief financial officer of FCMB Group Plc with oversight responsibility for accounting and finance, capital and liquidity management, mergers and acquisition, portfolio management and investor relations.?
It added, ?Patrick has over 20 years of extensive experience across various industries both within and outside Nigeria. He also has significant cross-functional experience in accounting, audit, strategic management, mergers and acquisition and finance, which will be immensely beneficial to the bank in his new role as the chief financial officer.?
Iyamabo holds a Bachelor?s degree in Pharmacy from the Ahmadu Bello University, Zaria. He also holds a Master of Business Administration from The Wharton School, University of Pennsylvania, USA and participated in an MBA exchange programme at INSEAD in Singapore. He has also attended professional programmes at various institutions, including the Harvard Business School, in Boston.