Zenith Announce Replacement For Emefiele As MD

The Board of Directors of Zenith Bank Plc yesterday announced the appointment of Peter Amangbo as the Managing Director designate. He is to replace Godwin Emefiele who has been appointed by the federal government as the new Central Bank governor. Mr. Emefiele was confirmed by the Senate last week which has made it imperative for Zenith Bank board to appoint a new Managing Director.The bank board approved the appointment of Mr. Peter Amangbo as the Managing Director/CEO-designate of the bank effective June 1, 2014. Mr. Amangbo takes over from Mr. Godwin Emefiele who has been appointed the Governor of the Central Bank of Nigeria (CBN).According to a statement from the bank Amangbo’s appointment which is consistent with the bank’s tradition and succession strategy of grooming leaders from within is subject to confirmation by the CBN. Mr Amangbo the bank said has over two decades of experience with Zenith Bank, gaining experiences in Corporate Finance and Investment Banking, Business Development, Credit and Marketing, Treasury, Financial Control and Strategic Planning and Operations.According to the bank Mr. Peter Amangbo was appointed to the board of the Bank and its subsidiary companies in 2005. He was a pioneer Non-Executive Director of Zenith Bank UK. Before joining the banking industry, he was a senior consultant with PriceWaterhouse where he covered assignments in financial services, manufacturing and general commerce.Peter Amangbo brings the experience and expertise to meet the current competitive banking challenges that require constant innovation through proven leadership and team-building skills, an exceptional ability to drive product, process and customer service improvements and a talent for building partnerships with key business decision-makers. He also has demonstrable ability to motivate, mentor and lead talented senior professionals and to direct cross-functional teams.He was part of the team that drove the Strategic Planning and Successful execution for positioning the bank as one of the best in the Country. His exemplary leadership continues to make significant contributions to the banks growth. As an Executive Director of Zenith Bank for the last nine (9) years, Peter was responsible for the supervision of corporate and commercial banking, corporate finance, trade services and all the subsidiaries of the bank.He is a member of the Board of Directors of Zenith Bank PLC Nigeria, Zenith Insurance Ltd, Nigeria, Zenith Pensions Ltd, Nigeria, Zenith Capital Ltd, Nigeria and Zenith Bank, UK. He was a member of the board of Interswitch Nigeria Ltd from 2005 to 2007.Amangbo is an alumnus of INSEAD and a fellow of the Institute of Chartered Accountants of Nigeria