By Fidel Ozugha.
Mr. Mustafa Chike-Obi has been appointed to chair the new board executives of Fidelity Bank. Others that are newly appointed in the board are Mrs Amaka Onwughalu, Mr. Nelson Nweke and Mr. Chinedu Okeke.They are non-executive directors. The new executive directors are to replace the outgoing directors who recently completed their tenure in accordance with the Bank’s internal governance policies.
According to News Agency of Nigeria (NAN) as announced by Chike-Obi, while the appointment of Onwughalu and Nweke have been approved by the Central Bank of Nigeria (CBN) that of Mr Okeke is awaiting approval. The new Chairman said that the bank looked forward to leveraging on the multi-disciplinary experiences of the new board members.
Chike-Obi said: “The board is pleased with the appointments and is confident that the new directors will bring their considerable experience to bear in the bank’s growth trajectory. We are very delighted to welcome the newly appointed directors to the Fidelity family. These appointments end the ongoing board realignment, occasioned by the retirements that had to happen, in line with our governance policies,’’ NAN quoted Chike – Obi saying.
Mustafa Chike-Obi started off his Nigerian Banking career with Chase Merchant Bank from 1980 – 1982 as Head of Treasury Department. It is noteworthy that Mustafa Chike-Obi created the Treasure Department concept in Nigerian banking and headed the first such department in Nigeria – Treasury Departments are now a critical part of Nigeria’s banking industry.
He later moved to Goldman Sachs where he worked as Co-Head Trading, Mortgage-Backed Securities. Furthermore, he founded Madison Park Advisors, a financial service advisory and consulting firm specializing in hedge fund and private equity investment – located in New Jersey, U.S.A. He was also Managing Director of Shoreline Group from 2001 – 2006. Mustafa Chike-Obi worked with Bear Stearns & Co as Co-Head Emerging Markets Trading 1992 – 1995. On 6th July 2020, he was appointed as chairman Fidelity bank Nigeria PLC. Fidelity Bank has announced the appointment of Mustafa Chike-Obi as Chairman of the Board of Directors. The appointment has been approved by the Central Bank of Nigeria, after the expiration of the tenure of the current Chairman, Mr Ernest Ebi.