Wema Bank Announces New Board Appointments

Wema Bank Plc has unveiled significant board changes, naming a new Deputy Managing Director and Executive Director to take effect upon the retirement of Mr. Oluwole Akinleye, the bank’s current Deputy Managing Director, on November 30, 2024.

These appointments reflect the bank’s strategic commitment to ensuring continuity and leadership excellence.

Following Mr. Akinleye’s retirement, Mr. Oluwole Ajimisinmi, currently an Executive Director, will assume the role of Deputy Managing Director effective December 1, 2024. Simultaneously, Mr. Olukayode Bakare will join the board as an Executive Director.

Mr. Akinleye joined Wema Bank’s board as an Executive Director in December 2014, later becoming Deputy Managing Director in April 2023. Over the years, he has been instrumental in overseeing critical operations, including the Southwest business, Corporate Banking Division, Customer Experience Management, and Corporate Sustainability. His visionary leadership has significantly contributed to Wema Bank’s growth and success.

The bank’s management and board have expressed heartfelt gratitude to Mr. Akinleye for his dedication, noting his pivotal role in advancing the institution’s mission and vision.

Effective December 1, 2024, Mr. Ajimisinmi will transition to the role of Deputy Managing Director. A seasoned legal and banking professional, he joined Wema Bank in July 2009 as the Company Secretary/Legal Adviser before being appointed an Executive Director in July 2020.

His robust expertise in corporate governance, strategic orientation, product development, and portfolio management has positioned him as a natural successor. Currently overseeing the Lagos Business Directorate and the Remedial/Recovery Department, Mr. Ajimisinmi’s appointment highlights the bank’s confidence in his leadership capabilities.

Mr. Ajimisinmi is a graduate of the University of Jos, where he earned a degree in Law, and he also holds a B.L. from the Nigerian Law School. Additionally, he is an alumnus of the General Management Program (GMP) at Harvard Business School.

Joining the board as Executive Director, Mr. Bakare brings over 32 years of extensive experience in banking and finance. Before his appointment, he served as the Divisional Executive overseeing Treasury, Wholesale Funding, and Global Trade Business.

Mr. Bakare is a graduate of Economics from Ogun State University and holds a M.Sc. in Economics from the University of Ibadan. A seasoned professional, he also holds an ACI Dealing Certificate (Distinction) from the Financial Markets Association in Paris and has attended elite programs at Harvard Business School, IMD Lausanne, and the New York Institute of Finance.

Mr. Bakare’s illustrious career includes roles at Ecobank, Intercontinental Bank (now Access Bank), and as a pioneer Treasurer at Diamond du Republic of Benin. His expertise in treasury and risk management further solidifies Wema Bank’s leadership strength.

Wema Bank’s board expressed confidence in the leadership transition, emphasising its commitment to fostering growth and stability. The appointments of Mr. Ajimisinmi and Mr. Bakare mark a new chapter, reflecting the bank’s focus on sustaining operational excellence while navigating the evolving banking landscape.