First Bank of Nigeria Limited, Nigeria’s most valuable banking brand and foremost financial institution, has announced the appointment of Mr. Tosin Adewuyi as a Group Executive of First Bank of Nigeria Limited and an Executive Director of its flagship subsidiary FBNBank UK Limited. The appointment is, however, subject to approval from the appropriate regulatory bodies in Nigeria and United Kingdom.
Tosin holds a bachelor’s degree in Economics & Accounting from University of Manchester, UK and is a Fellow of the Association of Chartered Certified Accountants (FCCA). He brings to the Group, over 20 years’ extensive experience covering both the UK and Sub-Saharan Africa with cross-functional exposure to Corporate and Investment Banking, Treasury and Investor Services, Trade Finance and Audit.
Until his appointment, Tosin served as a Managing Director/Senior Country Officer, Nigeria, for J.P. Morgan where he was responsible for executing growth strategies across all business lines – Investment Banking, Treasury and Cash Management, Trade Finance, Debt and Equity Capital Markets, Leveraged Finance and Advisory. In his role as J.P. Morgan’s Head of Nigeria, he was responsible for leading interaction with all Nigerian clients, high government officials, regulators and senior J.P. Morgan executives. In addition to his Nigeria responsibilities, over the last two years, Tosin also led J.P. Morgan’s Sub Saharan Africa Cash Management (“Clearing”) and Liquidity Business, actively managing clients in South Africa, Ethiopia, Mauritius, Kenya, Ghana, Namibia, Botswana, Uganda and Tanzania.
Prior to this, he served as an Executive Director/Head of Trade Finance, J.P. Morgan (London) between 2007 and 2010, where he had oversight responsibility for Trade and Structured Trade Finance for Sub-Saharan Africa. In this position, Tosin played a key role in setting up J.P Morgan’s Trade Africa business, he also set up the in-country Financial Institutions Trade Department in Nigeria to drive the growth of the trade portfolio for all Nigerian correspondent banking and corporate relationships.
Tosin was a steering group member of J.P. Morgan’s Black Leadership Forum and a member of the Diversity Committee. In 2012, Tosin was voted one of the most 100 influential black people in the UK in the finance category published by the Power List.
Prior to joining J.P Morgan, Tosin worked with Standard Bank London Limited between 2001 and 2006 in various positions. First, he served as an Internal Auditor and later moved to Trade and Corporate Finance Department responsible for trade and structured financing, relationship management, business development, deal origination, credit analysis, security documentation and portfolio management. Ahead of his banking career, he trained with KPMG in the UK as an Accountant/Auditor and rose through the ranks to the position of Assistant Manager in charge of the Public Sector Audit and Assurance services.
Mr. Adewuyi’s appointment is consistent with FirstBank’s strong corporate governance credentials and best practice, ensuring that there is balance of knowledge, judgment and experience at the highest decision making levels of the Bank and its subsidiaries. According to the Managing Director/Chief Executive Officer of First Bank of Nigeria Limited and Subsidiaries, Dr. Adesola Adeduntan, Tosin brings to bear on the Executive Management and Board of FBNBank UK over 20 years’ extensive experience covering both the UK and Sub-Saharan Africa with cross-functional exposure to Corporate and Investment Banking, Treasury and Investor Services, Trade Finance and Audit. “Though Tosin will based in the United Kingdom as an Executive Director, he will be an integral part of the Leadership Team of the Group and I am confident that his appointment will further strengthen the Bank’s business in the United Kingdom and beyond”, he stated.