Tag: Greenwich Merchant Bank

Greenwich Merchant Bank (GMB) has been named the winner of the 2025 Best FMDQ-Compliant Member Award, a recognition that reinforced the bank’s reputation for strong governance, disciplined operations, and consistent regulatory alignment.

The Award, presented by FMDQ Group Plc at the 2025 FMDQ Gold Awards, recognised the dealing member with the most robust compliance record, measured by minimal infractions and strict adherence to FMDQ’s market rules and operational standards across Nigeria’s fixed-income, currency, and derivatives markets.

Presenting the Award, FMDQ’s Group Head of Marketing, Mrs. Nkiru Umeh, commended Greenwich Merchant Bank for its exemplary performance, noting that the Bank continues to demonstrate a deep institutional commitment to transparency and professionalism.  According to her, the award remains “a celebration of excellence within Nigeria’s fixed-income and derivatives markets,” and acknowledges institutions that continue to promote transparency, discipline, and stability within the financial ecosystem. She emphasized that Greenwich Merchant Bank’s performance reflects “a strong governance culture and consistent adherence to best practices.”

The Managing Director and Chief Executive Officer of Greenwich Merchant Bank, Mr. Benson Ogundeji, expressed appreciation for the recognition, describing it as an affirmation of the Bank’s long-standing focus on compliance and market discipline. “We are honoured to receive the Best FMDQ-Compliant Member Award,” he said. “This recognition reflects our unwavering commitment to maintaining the highest standards of governance and operational excellence across all our market activities.”

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Ogundeji credited the achievement to the Bank’s compliance, operations, trade operations, and risk management teams, whose diligence, he said, ensures that GMB consistently meets regulatory expectations. “This Award is a testament to the collective effort of our teams and the disciplined culture we continue to strengthen,” he added.

The Bank’s Head of Compliance, Tayo Lawal, said the recognition underscores the effectiveness of Greenwich Merchant Bank’s internal controls and its coordinated approach to regulatory engagement. She described the Award as a validation of the Bank’s sustained investment in systems, processes, and people that uphold market integrity.

In its citation, FMDQ noted that Greenwich Merchant Bank distinguished itself during the 2025 review cycle through exceptional compliance performance in a highly regulated market environment. The Group stated that the Bank’s conduct contributed to market stability and reinforced investor confidence, positioning GMB as a model for other market participants.

The recognition further strengthens Greenwich Merchant Bank’s standing as a trusted financial institution with a solid governance framework. It also underscores the Bank’s continued commitment to supporting Nigeria’s financial markets through accountability, professionalism, and strict regulatory adherence.

The Central Bank of Nigeria (CBN) has approved the transition of Greenwich Merchant Bank Limited into a holding company (HoldCo), in a major transformation for the 31 years old financial services group.

Under the new structure, Greenwich Holdings Limited will oversee Greenwich Merchant Bank Limited, Greenwich Asset Management Limited and Greenwich Securities Limited, while driving the strategic expansion of the Group.

Chairman, Greenwhich Group, Mr. Kayode Falowo, said with the approval and transition into holding company, the Greenwich Group has been positioned to consolidate its existing financial service businesses, expand into new markets, and strengthen its position as a leading player in the financial sector.

According to him, the regulatory approval was also a testament to the dedication, hard work, and commitment to excellence that have defined Greenwich’s legacy as a trusted partner in the financial industry.

He said Greenwich HoldCo structure would enhance the group’s operational efficiency, enable it to diversify revenue streams, improve risk management and boost opportunities to foster strategic partnerships.

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He expressed gratitude to the apex bank and assured the group’s customers of continuing quality service delivery.

“We are thrilled about the opportunities this new structure presents. Greenwich Holdings Limited is committed to delivering innovative financial solutions, fostering growth and creating value for its stakeholders the Nigerian economy,” Falowo said.

He pointed out that Greenwich Holdings Limited represented a new chapter in the unparalleled growth which began with Greenwich Trust Limited, which commenced operations in June 1994 as a financial adviser.

The firm, regulated by Securities and Exchange Commission (SEC), later applied to the Central Bank of Nigeria for the conversion of its operations which led to the establishment of Greenwich Merchant Bank Limited in 2020.

“Over the course of 30 years, Greenwich has expanded its footprint across various segments of the financial sector through its subsidiaries and affiliated entities including Greenwich Registrars and Data Solutions Limited and Greenwich Trustees Limited,” Falowo said.

Commenting earlier on the bank’s recapitalisation plan, Falowo noted that as a proactive organisation, Greenwich Merchant Bank had embarked on a rights issue before the directive of the apex bank to increase regulatory capital of banks.

According to him, the rights issue was successfully completed and Greenwich Bank has since received the approval of the CBN for the capital.

He added that the newly registered Greenwich Holdco has immediately commenced a private placement to raise additional capital required by the group.

He described recapitalisation by banks as necessary for long-term financial stability and for enhancing growth prospects of the Nigerian banking sector.

Greenwich Merchant Bank, a provider of high-end financial services in Nigeria, has secured Approval-in-Principle (AIP) from the Central Bank of Nigeria to transition into a holding company (holdco) structure.

Speaking during the bank’s 29th Annual General Meeting (AGM) held in Lagos, its Chairman, Kayode Falowo, said the Holding Company will be named ‘Greenwich Holdings Limited’. It will oversee a diverse portfolio of existing financial services entities comprising Greenwich Merchant Bank Limited, Greenwich Asset Management Limited, Greenwich Securities Limited, Greenwich Trustees Limited, as well as proposed new ventures in the financial services sector.

Falowo explained that each subsidiary, operating within its specialised domain under the overarching umbrella of Greenwich Holdings Limited, will foster synergy, efficiency, and strategic alignment across the group’s operations.

According to him, the strategic move will enable Greenwich Group to streamline operations, enhance efficiency, and unlock new growth opportunities. “We are committed to leveraging this structure to deliver superior financial products and services to our esteemed clientele,” he stated.

Falowo further characterised the approval-in-principle to transit into a Holding Company as a pivotal moment in the bank’s journey towards enhanced competitiveness and market leadership, solidifying its position as the go-to institution for delivering comprehensive financial services tailored to meet the evolving needs of its clientele.

The HoldCo AIP, as explained by Falowo, signifies more than just a regulatory green light; it represents a strategic milestone that will enable the bank to optimise its operations and explore new avenues for growth. “We are committed to leveraging this structure to deliver superior financial products and services to our esteemed clientele, and continue to contribute to Nigeria’s economic development,” he stated.

He also noted the importance of meeting the CBN’s recently announced minimum capital requirement for banks. “Addressing this proactively through our Right Issue, which started prior to the Apex bank’s announcement, is a crucial step towards ensuring long-term financial stability and opening up future growth prospects,” he said. He further revealed that the bank has completed the Right Issue, which is currently awaiting CBN approval. Once approved, this will bring the bank to about 60 per cent of the required capital, with ongoing processes to meet the balance within the coming months.

Acting MD/CEO, Greenwich Merchant Bank, Benson Ogundeji, echoed the Chairman’s sentiment, expressing optimism about the bank’s prospects, and citing the HoldCo approval-in-principle as a testament to the bank’s resilience and strategic foresight. “This regulatory nod reaffirms confidence in the bank’s ability to adapt and thrive in a dynamic financial landscape, positioning us for sustained growth and value creation for our stakeholders”.

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Founded on a commitment to provide high-end financial products and services to select clientele across various sectors of the economy, Greenwich Merchant Bank has consistently differentiated itself through its deep industry insight, and its dedication to building strong relationships, exceeding clients expectations.

The bank added that the transition of Greenwich Merchant Bank to a holding company will not only represent a significant milestone for the institution, it will also hold broader implications for Nigeria’s economic development.

 “By leveraging its diversified offerings and strategic positioning, Greenwich Holdings Limited is poised to contribute to Nigeria’s journey towards sustainable economic growth and prosperity. It will facilitate increased access to capital through its subsidiaries, supporting entrepreneurship and innovation, promoting investment and economic growth, and contributing to the overall resilience of the Nigerian financial sector,” it said.

The CBN had in 2020, granted Greenwich Merchant Bank a licence to operate as a merchant bank in the country, thus allowing the bank to offer diverse services in Corporate Banking, Investment Banking, Treasury and Global Markets, Wealth and Asset Management, Securities Dealing, among others.

As Greenwich Merchant Bank embarks on this transformative journey, it remains steadfast in its commitment to delivering superior value and strengthening its standing as the preeminent partner for clients in Nigeria’s dynamic financial services sector.

Greenwich Merchant Bank (GMB) is a leading merchant bank owned by reputable corporate and private investors. The Bank has its headquarters in Lagos, Nigeria with a focus on high end financial products and services to select clientele in targeted sectors of the economy. With a comprehensive suite of services spanning Corporate Banking, Private Banking, Investment Banking, Asset & Wealth Management, Treasury & Global Markets and Securities Trading, Greenwich Merchant Bank is dedicated to driving economic growth and prosperity in Nigeria and beyond. The Bank is rated BBB (NG) Long Term, and A3 (NG) Short Term with a Stable Outlook by Global Ratings Agency, GCR, and BBB with a Stable Outlook by Agusto & Co.