Babatunde, former Ecobank VP, now SunTrust Bank CEO

SunTrust Bank has appointed Ayo Babatunde (pictured) as its new chief executive officer effective August 1, 2018.

Babatunde, who was the former senior vice president – regional treasurer of Ecobank Nigeria, is replacing Muhammad Jibrin.

Jibrin resigned to contest for the gubernatorial seat in Gombe.

Speaking on behalf of the bank’s board of directors, Jibril Aku, chairman of the board, said “On behalf of the board and management of the bank, I want to thank Muhammad our pioneer CEO for the solid foundation he has laid for the development of Nigeria’s first FinTech Bank.

“His passion for service will serve him well in his future aspiration to serve the people of his home state. We welcome Mr Babatunde, who has been a familiar person with an excellent track record.”

Speaking on his appointment, Babatunde said “I count on the support of the Board and all other stakeholders towards achieving the vision and mission of the Bank. With hard work, success is certain.”

Babatunde began his banking career with MBC Securities Ltd in 1998 as an accountant and later pursued a career in banking with MBC International Bank Limited (which merged with First Bank after banking consolidation in 2005).

He then moved to Citibank Nigeria Ltd where he rose to the position of vice president – head, risk treasury/ALM.

After a successful career with Citibank, he worked with EcoBank Nigeria Ltd as general manager – deputy group treasurer and later senior vice president – regional treasurer.

He was the chairman of the Money Market Dealers Workgroup of the Financial Markets Dealer Association (FMDA) and as an ex-officio, prior to joining SunTrust Bank.