Chike-Obi is BDAN chairman

The Bank Directors Association of Nigeria (BDAN) has appointed Mustafa Chike-Obi, Chairman, Fidelity Bank Plc as its new President.

This followed the completion of Mrs. Osaretin Demuren’s tenure. Chike-Obi’s appointment took effect from last Monday.

According to a statement by the Executive Secretary of the association, Ms. Adebukola Orenuga,  his appointment was ratified by the Forum for Banks’ Chairmen organised by the association in June.

Chike-Obi said he would  work with relevant stakeholders to ensure banks play a more active role in the economy.

“As the chairman of this important association, I plan to represent more robustly, the interest of the banking industry and to project the image of the banking industry as an essential partner with our customers and the  economy as a whole. These are no-doubt interesting times given the Covid-19 pandemic and resulting economic challenges. I look forward to partnering shareholders as well as customers, regulators and all other players to contribute our quota to positioning the economy for sustainable growth and recovery,” explained  Chike-Obi.

The new chairman has over 40 years of experience in investment banking and the financial services sector, working with reputable global investment banking and asset management firms.

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He was appointed to the Board of Fidelity Bank Plc in August, last year and is the Executive Vice Chairman at Alpha African Advisory where he provides leadership and has  oversight over the capital raising division.

Prior to joining Alpha African Advisory, he was the first Management Corporation of Nigeria (AMCON), a Federal Government- backed institution, established to resolve the problem of non-performing loan assets of banks after the 2008 global financial crisis.

He started his career with Chase Merchant Bank where he was the Head of Treasury Department from 1980 to 1982 and was founding President at Madison Advisors, a financial services advisory and consulting firm in New Jersey, specializing in hedge funds and private equity investment advice. He also served as the Managing Director, Fixed Income at Shoreline Group and held senior positions at Goldman Sachs, Bear Stearns and Guggenheim Partners in the United States amongst others, where he acquired a broad knowledge base in capital market operations in both mature and emerging markets, including the development and marketing of fixed income securities products to institutional investors.