United Capital Names Asade New GMD, As Toyin Sanni Bows Out

Days after the news was first broken, the board of United Capital Plc, on Wednesday formerly announced to the Nigerian Stock Exchange (NSE) that its group chief executive, Mrs. Oluwatoyin Sanni, 52, would retire June 30, 2018, after 12 years in its employ.
She would be replaced by Peter Owolabi Asade, the current Group Chief Executive of African Prudential Plc, another investee company of the Tony Elumelu-led Heirs Holdings Limited.
While Asade’s appointment is subject to regulatory approval, Sanni is leaving the company of which she became group CEO in January 2014, after serving as MD of the then UBA Trustees, to pursue other passions.
Meanwhile, under Asade’s leadership, African Prudential metamorphosed from a pure play share registration company into performing other functions such as investment in the Nigerian capital market as a way of diversifying earnings and profit for the benefit of shareholders.
A statement by Leo Okafor, the company secretary, noted that under the leadership of Asade, described as an astute investment banker of over three decades of cognate experience in Nigeria’s capital markets, Afriprud successfully acquired and seamlessly integrated major competitor- UAC Registrars Ltd.
Commenting, Mathias Chika Mordi, the company’s chairman, who described Asade as “a transformative leader with a sterling record of industry leadership, and a deserved reputation for innovation and meticulous execution with customers as the unwavering focal point,” said the appointment is “an exciting milestone for of United Capital Plc.”
The incoming GMD, he continued, “possesses an instinctive understanding of the distinct ethos of United Capital and its performance culture.”
He assured Asade of the resolute support of the board “to cement the heritage of his illustrious predecessors and accelerate the pursuit of our Pan-African goals, superior stakeholder value and client collaborative intensity.”
For Asade, it is an honour “to accept this new appointment as the Group CEO at United Capital Plc,” while looking forward to embarking on the new journey and working with the company’s leadership and committed employees.
Sanni, a 1984 law graduate of the University of Ife, holds a 1988 Master’s Degree (LLM) from the University of Lagos and was called to the Nigerian Bar in 1985. She is a member of the Institute of Chartered Secretaries and Administrators (ICSA) UK, Fellow of the Chartered Institute of Stockbrokers (CIS).