{"id":50556,"date":"2021-07-15T06:41:14","date_gmt":"2021-07-15T05:41:14","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=50556"},"modified":"2021-07-15T07:01:04","modified_gmt":"2021-07-15T06:01:04","slug":"gtbank-appoints-miriam-olusanya-new-md-as-the-lender-completes-reorganization","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/gtbank-appoints-miriam-olusanya-new-md-as-the-lender-completes-reorganization\/","title":{"rendered":"GTBank Appoints Miriam Olusanya New MD As The Lender Completes Reorganization"},"content":{"rendered":"

… as\u00a0<\/span>investors loses N2.94bn over restructuring<\/span><\/p>\n

Guaranty Trust Bank (GTBank) has appointed Mrs. Miriam Olusanya as its new Managing Director.<\/p>\n

In a notice sent to the Nigerian Exchange Group Limited (NGX) on Wednesday, the tier one lender also announced the successful completion of its re-organization into a Holding Company Structure.<\/p>\n

The new operating company with the brand name Guaranty Trust Holding Company Plc (GTCo) will be headed by Mr. Sola Oyinlola as Chairman while Mr. Segun Agbaje is the Group Chief Executive Officer.<\/p>\n

Other members of the company\u2019s Board are \u2013 Mrs. Cathy Echeozo (Non-Executive Director), Mrs. Helen Bouygues (Independent Non-Executive Director), and Mr. Adebanji Adeniyi (Executive Director).<\/p>\n

The banking subsidiary, GTBank\u2019s Board will comprise of Mr. Ibrahim Hassan (Chairman), Mrs. Miriam Olusanya (Managing Director), Mr. Olabode Agusto (Non-Executive Director), Ms. Imponi Akpofure (Independent Non-Executive Director), Mrs. Victoria Adefala (Independent Non-Executive Director), Mr. Jide Okuntola (Deputy Managing Director) and Mr. Haruna Musa (Executive Director).<\/p>\n

According to the notice signed by the company\u2019s Secretary, Erhi Obebeduo, the board was reconstituted following the retirement of about four Directors.<\/p>\n

Agbaje, who spoke on the completion of the corporate re-organization, said: \u201cWe believe that a Holding Company Structure will allow us to take advantage of new business opportunities in the emerging competitive landscape and strengthen our earnings base.<\/p>\n

READ ALSO: Guaranty Trust Holding investors lose N2.94bn as firm completes restructuring<\/p>\n

\u201cWe are very excited to get started on the next phase of our incredible journey to driving Africa\u2019s growth by making end-to-end financial services easily accessible to every African and African business by leveraging technology and strategic partnerships.<\/p>

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\u201cAs a bank, we were always looking to meet every customer need; with our corporate re-organization, we will be able to do more to help our customers thrive in this new world of digital technologies and unprecedented possibilities.<\/p>\n

\u2018\u2019Whilst we are evolving as an organization, we remain committed to our founding values which have endeared our brand to millions of people across Africa and beyond, and which continues to drive our financial success.<\/p>\n

\u201cAs a proudly African and truly an international brand, we will continue to live by these values of excellence, hard work, and integrity, even as we create faster, cheaper, safer, and more diverse products for people and businesses of varied types and sizes.\u2019\u2019<\/p>\n

Meanwhile, investors have lost N2.94 billion as the company\u2019s stock value dropped with just 24 hours to its complete restructuring.<\/span><\/p>\n

Analysis of the GTCO\u2019s stock price revealed that its market value has dropped by 0.33 percent in the last two days.<\/p>\n

The company\u2019s stock\u00a0price dropped from N29.55 kobo per share to N29.45 kobo on Tuesday.<\/p>\n

GTCO\u2019s share traded flat at the end of trading on Wednesday, but not before dropping to as low as N29.25 kobo during intraday trading.<\/p>\n

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