The board of Wema Bank has appointed a new Deputy Managing Director, Oluwole Ajimisinmi and a new Executive Director, Olukayode Bakare.

Ajimisinmi’s appointment followed the retirement of Oluwole Akinleye after 10 years on the board.

According to a notice filed with the Nigerian Exchange Limited on Friday, the Ajimisinmi whose appointment takes effect from December 1, 2024, used to serve as the Executive Director in charge of Lagos Business Directorate.

The statement said Ajimisinmi joined Wema Bank Plc in July 2009 as the Company Secretary/Legal Adviser and was appointed to the Board as an Executive Director in July 2020.

Oluwole has a robust wealth of experience in banking and corporate governance. His appointment as the new Deputy Managing Director of the bank is based on the strength and diversity of his experience, his outstanding strategic orientation, good product development and portfolio management capabilities.

“He currently supervises the Lagos Business Directorate and the Remedial/Recovery Department of the Bank. Oluwole earned his first degree in Law from the University of Jos and his B.L. from the Nigerian Law School. He is an alumnus of the prestigious General Management Program at Harvard Business School,” the statement partly read.

To fill the office being vacated by Ajimisinmi, the board appointed Bakare as an Executive Director.

Olukayode is an ardent treasury and finance professional with over 32 years of post-graduation experience in both academics and banking sectors, respectively.

Until his appointment, he was the Divisional Executive in charge of the Treasury, Wholesale Funding & Global Trade Business of the Bank. Olukayode studied Economics at the Ogun State University and thereafter obtained an MSC from the University of Ibadan in 1995. He also holds an ACI dealing Certificate (Distinction) from the Financial Markets Association, Paris, France.

On the appointments, the board said, it is “confident that with the appointments of Oluwole Ajimisinmi and Olukayode Bakare as the Deputy Managing Director and Executive Director respectively, the Bank will continue to build on its achievements and remain focused on delivering exceptional value to its stakeholders.”