Wema Bank, a leading player in Nigeria’s banking sector and the pioneer of Africa’s first fully digital bank, ALAT, has announced the appointment of Mr. Oluwole Ajimisinmi as Deputy Managing Director and Mr. Olukayode Bakare as Executive Director. The appointments, effective December 1, 2024, align with the bank’s strategic commitment to leadership succession and innovation.

These appointments follow the retirement of Mr. Oluwole Akinleye, the current Deputy Managing Director, on November 30, 2024. Mr. Akinleye, who has been a cornerstone of Wema Bank’s transformation over the past decade, has served in pivotal roles, including leading the Southwest Business, Corporate Banking Division, and Corporate Sustainability. His dedication and leadership have significantly advanced Wema Bank’s market positioning and strategic objectives.

The Board of Directors expressed deep appreciation for Mr. Akinleye’s contributions, describing him as a driving force behind the bank’s evolution. In a statement, the Board extended best wishes for his future endeavors.

As part of its succession plan, Wema Bank appointed Mr. Ajimisinmi, who joined the bank in 2009 as Company Secretary/Legal Adviser and became an Executive Director in 2020. With a strong background in corporate governance, strategic leadership, and banking, Mr. Ajimisinmi is expected to play a pivotal role in steering the bank’s next growth phase.

Similarly, Mr. Bakare, a seasoned expert in finance and treasury, assumes the role of Executive Director. His extensive experience in Treasury, Wholesale Funding, and Global Trade Business positions him to drive the bank’s innovative financial solutions further.

The Board highlighted the importance of these appointments in ensuring a future-ready leadership team. “Mr. Ajimisinmi and Mr. Bakare bring a wealth of expertise and passion to their roles. We are confident their leadership will propel Wema Bank to new heights, ensuring sustained innovation and value creation for all stakeholders,” the statement read.