Victor Ezeja
Nigerian investment banker and entrepreneur, Atedo Peterside, has retired as a non- executive director of the board of Stanbic IBTC Bank .
Peterside, who is the founder of Stanbic IBTC Bank, said in a post on his verified X handle on Monday that even though the retirement age is 70 years, having worked for 35 years, he believes it was enough for him to retire.
Join our WhatsApp ChannelHe said he opted not to be re-elected as a Director as the company held its Annual General Meeting (AGM) on Monday.
“Thank you @StanbicIBTC & @StandardBankZA. This has been an incredible 35-year journey that ends today, 10 June 2024.
“Every single day since 2 Feb 1989, I have been either the CEO, Chairman or a Bank Director. All good things must come to an end. I give God the glory at age 68,” Peterside wrote on his X handle.
In a notice filled at the Johannesburg Stock Exchange (JSE) dated 18 April 2024, by the parent company, Standard Chartered Bank, it stated that Dr Xueqing Guan and Mr Atedo Peterside will retire as directors at the conclusion of the AGMs of Standard Bank Group and The Standard Bank of South Africa Limited (SBSA).
“Shareholders are advised that, in accordance with the provisions of paragraph 3.59(b) of the JSE Listings Requirements and paragraph 6.39(b) of the JSE Debt Listings Requirements, Dr Xueqing Guan and Mr Atedo Peterside will retire as directors at the conclusion of the Annual General Meetings (“AGMs”) of Standard Bank Group and The Standard Bank of South Africa Limited (“SBSA”), scheduled to be held on 10 June 2024 and 23 May 2024 respectively, “ part of the notice read.
It further said both directors had formally advised the Company and SBSA that they will not make themselves available for re-election.
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Boards of Standard Bank Group and SBSA expressed gratitude to Dr Guan and Mr Peterside for their exemplary leadership.
“As indicated in the SENS announcement dated 28 March 2024, the notice of the Standard Bank Group’s AGM will be published on 29 April 2024.
“The boards of Standard Bank Group and SBSA express sincere gratitude to Dr Guan and Mr Peterside for their exemplary leadership and significant contribution during their tenure on the boards; and wish them well in their future endeavours,” it further stated.
Atedo Peterside was the founder and chief executive of the then Investment Bank and Trust Company Limited (IBTC) from 1989 to 2007.
Between 2007 and 2014, he served as chairman of Stanbic IBTC Bank Plc (the bank) chairman of Stanbic IBTC Holdings Plc from 2012 to 2017.
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
