The board of Fidelity Bank Plc, on Thursday, announced to the Nigerian Stock Exchange (NSE) that it has appointed Hassam Imam as the new executive director of its North Directorate, with the approval of the Central Bank of Nigeria (CBN), with effect from January 1, 2020.
This, according to a statement by Ezinwa Unuigboje, the company secretary, followed the retirement of Mohammed Balarabe as deputy managing director, with effect from December 31, 2019.
Prior to his appointment, Imam was Regional Head, Abuja 1 Bank.
Balarabe’s exit, which has been approved by the board, the bank said, is “in accordance with the bank’s human capital policy and predicated on the attainment of the retirement age.”
Balarabe was first appointed onto the board of Fidelity Bank on April 1, 2012, following which he was elevated to the position of DMD, four years later on May 2, 2016, while still taking charge of the Commercial and Consumer Banking (North) portfolio.
He was responsible for the management of Fidelity Bank’s locations in northern Nigeria and the Federal Capital territory, Abuja.
A licensed member of the Nigeria Stock Exchange (NSE) since 1992, Balarabe was appointed an executive director of Oceanic Bank Plc by the CBN.
Before then, he was General Manager in United Bank for Africa (UBA) and had been the General Manager & Chief Executive of Newdevco Finance Services Company Limited before his appointment to the Board in April 2012.
He holds a Bachelors Degree in Accounting and Finance from Nothingham Trent University, UK, as well as Master of Science (M.Sc.) in Finance from the University of Lagos. He has attended several Executive Education programs at Columbia University Business School, INSEAD; Said Business School, University of Oxford; Kellogg School of Management, amongst others.