Guarantee Trust Bank Plc has completed its re-organization to a holding company, a process that started over a year ago.
The new Holdco said on Wednesday that the new corporate name adopted is Guarantee Trust Holding Company Plc.
As a holding company, the bank will be a subsidiary of the new structure and will lead to the delisting of the GTBank from the capital market and the listing of GT Holdco on the stock exchange.
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The company had on November 6 last year obtained an authorization from a Federal High Court sitting in Lagos.
GTCO said following the reorganization, four of its directors have been retired, while new ones have been appointed.
GTCO said, “Kindly be informed that as part of the restructuring process, the Board of GTCO was constituted and the Board of Guarantee Trust Bank Limited was reconstituted following the retirement of the following directors: Mrs. Osaretin Demurem (Chairman); Mr. Adebayo Adeola (Non-Executive Director); Mr. Demola Odeyemi (Executive Director); and Mr. Bolaji Lawal (Executive Director).”
The retired board members have been replaced with Mr Ibrahim Hassan as Chairman, Mrs Miriam Olusanya as Managing Director, Mr Olabode Agusto as Non-Executive Director, Ms Imoni Akpofure and Mrs Victoria Adefola as Independent Non-Executive Directors, Mr Jide Okuntola as Deputy Managing Director and Mr Haruna Musa as Executive Director.
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The Group also constituted a board which made Mr Sola Oyinlola as Chairman of GTCO.
The banks’s former CEO, Mr Segun Agbaje, will be the Group Chief Executive Officer, Mrs Cathy Echeozo as Non-Executive Director, Mr Suleiman Barau and Mrs Helen Bouygues as Independent Non-Executive Directors and Mr Adebanji Adeniyi as Executive Director.
GTCO said the changes have been approved by the Central Bank of Nigeria.
Agbaje who is the new CEO of GTCO said the holding company structure will allow the company to take advantage of new business opportunities in the financial sector.
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