UBA Changes Board Members, As Kennedy Uzoka Bows Out

United Bank for Africa (UBA) has made changes to its board, with the current Managing Director and Chief Executive Officer, Kennedy Uzoka, set to take another position.

While the changes haven’t been disclosed to the investing public or the Nigerian Exchange Limited (NGX), Nairametrics reported that Oliver Alawuba has been appointed as new MD and chief executive.

Alawuba is the current Deputy Managing Director of UBA, and that position will be filled by the current General Manager of Corporate Banking, Muyiwa Akinyemi.

His appointment comes as Uzoka’s two-term tenure nears it end. He was appointed in August 2016 to the position of MD/CEO, after serving two years and some months as Deputy Managing Director.

Uzoka is expected to take another position in one of the yet to be named subsidiaries of UBA Group, to continue his eighth years stay in the bank, which recently opened its Dubai office.

Prime Business Africa had previously reported that the branch is situated in the Dubai International Financial Centre (DIFC). It will be the operational center of UBA’s gulf region, offering investment banking and advisory services, and connecting clients with trades in the African market.

“We have been looking forward to this day as it is the first time we will have presence in this part of the world. We know that our international expansion is incomplete if we are not present in the gulf.” The Group Chairman of UBA, Tony Elumelu had said.