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FirsrBank MD, Onasanya set to retire: Why he’s called architect of modern First Bank

imageThe Group Managing Director and Chief Executive Officer, First Bank of Nigeria Limited, Mr. Bisi Onasanya, who has been credited as the architect of the modern First bank is set to retire this year upon the completion of his tenure. Onasanya has spent 21 years in the institution, serving meritoriously in the last six years as Group Managing Director/CEO.

His retirement will take effect at the end of the current financial year on December 31, 2015.
A statement signed by the Global Head, Marketing and Corporate Communications, First Bank, Folake Ani-Mumuney, said Onasanya would be retiring on the heels of an inspiring and enviable career spanning over three decades of diverse management and operational experience.

According to the statement, Onasanya has been able to stabilise and modernise the expanding First Bank brand since his appointment in 2009, thus reinforcing the confidence of the bank’s diverse stakeholders and the global financial public.

Onasanya’s successor, according to the statement, will be announced in the last quarter prior to his exit. This is in sync with the bank’s corporate governance practice, which provides for seamless transition for the office of Group Managing Director.

The statement added, “As is well known, First Bank’s corporate governance posture has won it much respect and awards, both locally and internationally. A seasoned banker and chartered accountant; Onasanya is a highly respected and personable executive who has established a reputation at First Bank for solid performance and sound judgment.

“He is widely reputed as the architect of the modern First Bank, associated with various innovative and creative achievements. He was project coordinator of Century 2, the new frontier, First Bank’s far-reaching enterprise transformation project at the turn of the century, as well as project coordinator of the First Bank Corporate Transformation project, which has seen the bank accentuating its foothold on modernisation.”

Onasanya also superintended the latest composite corporate identity/brand refresh of the First Bank Group, a bold step heralding the international expansion of the brand, according to the statement.
Bisi commenced his banking career as a Senior Accountant with Wema Bank in 1985. He joined FirstBank in 1994 and held several positions, including Group Head, Finance and Performance Management. As Coordinator of the Bank’s Century 2 Enterprise Transformation Project in 2004, Bisi managed what is perhaps acknowledged today as the most critical phase of the Bank’s early transformation, to ensure continuous competitiveness. He maintained this coordinating role as Executive Director, Banking Operations & Services until this appointment as GMD/CEO.
Bisi is a Fellow of the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Bankers of Nigeria. He is also an Associate Member of the Nigerian Institute of Taxation. Bisi is Chairman, Kakawa Discount House Limited and Unified Payment Services Limited. He is a Director of FBN Bank (UK) Limited, Nigeria Inter-Bank Settlement System Plc and Africa Finance Corporation, and has served as a member of the Chartered Institute of Bankers’ Sub-Committee on Fiscal & Monetary Policies, and also on the Presidential Committee on Reduction of Interest Rates.
He is 53 years old and happily married with 4 children.

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