President Goodluck Jonathan has approved the appointment of Rasheed Adejare Olaoluwa as the new Managing Director of Bank of Industry (BOI).
In a statement by the ministry of Trade and Commerce, the appointment takes effect on Monday, May 19, 2014.
Prior to this appointment Olaoluwa served as the group chief executive officer of UBA Capital Plc, a leading pan-African asset management and investment banking group, from January 2013 to May 2014.
He was an executive director at the United Bank for Africa between March 2008 and December 2012, where he played a key role in the expansion of UBA’s operations into sub-Saharan Africa.
He also served as the chief executive officer of UBA International of United Bank for Africa Plc as well as chief executive officer of UBA West & Central Africa.
Before joining UBA in 2006, Olaoluwa had an illustrious working career that saw him through Arthur Andersen and in the banking industry, various senior roles in marketing and relationship management, treasury management, currency trading and investment banking, culminating in his appointment as the managing director/chief executive officer of the erstwhile Universal Trust Bank PLC.
Olaoluwa is an Associate of the Institute of Chartered Accountants of Nigeria.
He holds a first class honours degree in Civil Engineering and an executive MBA degree from International Graduate School of Management (IESE), Spain.
Olaoluwa will replace Evelyn Oputu whose eight years turbulent tenure ended on December 13, 2013.
The Executive Director, Business Development of BoI, Waheed Olagunju, had during the last two months acted as the managing director of the bank.
