Zenith Bank appoints first female Group Managing Director

Nigeria’s most capitalised bank, Zenith Bank Plc, has appointed Dame Adaora Umeoji as the Group Managing Director effective June 2024, making her the first female to lead the bank she serves as the deputy GMD. 

Her appointment is, however, subject to the approval of the Central Bank, Daily Trust gathered from sources with knowledge of the move.

She holds multiple degrees, including a doctorate in Business Administration, and has completed prestigious programmes at Harvard Business School, Columbia Business School, and MIT Management Sloan School.

The appointment is coming after 5 years at the helms by Dr. Ebenezer Onyeagwu who was appointed Group Managing Director/CEO of Zenith Bank Plc on June 1, 2019. He is a seasoned banker and an astute financial strategist with over three decades of banking experience.

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The new appointment will be communicated to stakeholders through the Nigerian Exchange.

Further checks revealed that Zenith is also implementing its holdco structure with the current Group Managing Director, Dr. Onyeagwu, who is expected to be named as Chief Executive Officer after his 2-year cooling period as required by guidelines.

Dr Onyeagwu has, however, been appointed Chairman of the board of Zenith Bank, United Kingdom.