By Omoh Gabriel, Business Editor
First City Monument Bank Plc (FCMB) has expanded its Board of Directors to include some internationally acclaimed professionals from some of the institutions that recently invested in the bank.
The expansion of the bank board is aimed at enhancing corporate governance through the installation of a committed and focused Board of Directors who will guide the affairs of the bank with a view to increasing shareholder value. The bank has also deliberately targeted international board members with exceptional credentials to give further confidence to its growing international investor and client base and to assist in growing the bank’s international profile and activities.
Amongst the prominent professionals who have joined FCMB’s Board as non executive directors include Mr Tope Lawani, co-founder and Managing Director of Helios Investment Partners, managers of a $300 million private equity fund that has invested in FCMB, and Nigel Kenny, former Group Finance Director of Standard Chartered Bank Plc.
Tope Lawani is a Nigerian national, graduate of MIT, Harvard Law and Business Schools, and co-founder/Managing Director of Helios Investment Partners. Prior to founding Helios, Lawani was a Principal at Texas Pacific Group (1996-2004), one of the world’s leading global private equity firms with over $30 billion under management, working in both the San Francisco and London offices.
At Texas Pacific Group, Lawani played a lead role in the execution of over $10 billion worth of closed venture capital and leveraged buyout investments, including the acquisitions of J. Crew Group, Burger King Corporation, Debenhams Plc, and Scottish & Newcastle Retail. Prior to joining Texas Pacific Group, Lawani was a Mergers & Acquisitions and Corporate Development Analyst at the Walt Disney Company in Burbank, California.
He serves also on the Boards of Directors of Finacity (USA), HTN (Nigeria), and Cora de Comstar (Ivory Coast). Lawani completed his primary and secondary education in Nigeria and holds a Bachelor of Science degree in Chemical Engineering from the Massachusetts Institute of Technology, a Juris Doctorate from Harvard Law School and a Masters in Business Administration from Harvard Business School.
Nigel Kenny is an alumnus of the University of Surrey, from where he obtained a Bsc. degree in physics (1st Hons.) and a doctorate in theoretical physics. Nigel began his career with Pricewaterhouse and possesses extensive banking experience spanning almost two decades and covering UK/Europe, Middle & Far East Asia and Africa.
He worked with Standard Chartered Bank Plc, London from 1992 to 2002 and held various positions including Group Executive Director, Finance. Nigel also worked with Chase Manhattan N.A., where he was vice-President and Area Audit Manager, Europe, Middle East & Africa. Nigel is a fellow of the Institute of Chartered Accountants in England & Wales.
To strengthen its global positioning, FCMB recently entered into international partnerships with leading international institutional investors such as Sabre Capital Worldwide, Helios Investment Partners, GLG and HSBC. The bank expects that post election significant amounts of international capital will be sourced from this growing network of investors to fund its exciting growth plan. The bank will also seek to expand internationally to strengthen investment flows between Nigeria and the rest of the world.