Outgoing Chairman of Stanbic IBTC Holdings PLC, Atedo Peterside, has expressed confidence in the ability of the board, management and staff to maintain the organization on a steady path of growth as he takes a final bow from the institution that has become synonymous with his name.
He spoke at a send-off dinner in his honour in Lagos, on Thursday, April 20, 2017,attended by a high profile audience that included the Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah; Emir of Kano, Alhaji Muhammadu Sanusi II; President, Dangote Group, Aliko Dangote; Chief Executive, Standard Bank Group, Sim Tshabalala; Deputy Chairman, Standard Bank Group, Jacko Maree; and Chief Executive, Africa Regions, Standard Bank Group, Sola David-Borha, with the Chief Executive of Stanbic IBTC Holdings PLC, Yinka Sanni, playing host.
Peterside stated, “I am resigning from the Board of Stanbic IBTC Holdings PLC to focus on my role as member of the board of the parent group. I am very confident that those behind are more than capable to steer the ship in the right direction. I am comfortable in the part that I have played and I believe that the organization will continue to make progress.”
In a letter to the Board of Directors announcing his resignation effective March 31, 2017, Peterside noted that the organization had put in place a succession plan which ensures that the business is well-placed to continue the pursuit of its goals and growth strategies without hitches. “We have a strong tradition of careful succession planning at both Stanbic IBTC and the Standard Bank Group,” he stated, adding, “Yinka Sanni, who has been the Chief Executive of Stanbic IBTC Bank, recently took over as Chief Executive of Stanbic IBTC holdings as a good show of our succession planning”.
Earlier in the day, superlatives flowed freely as Peterside was eulogized for his integrity, professionalism and strong leadership skills that helped in transforming Stanbic IBTC from just an investment bank to a leading end-to-end financial solutions company with tentacles in stockbroking, pension and asset management, trusteeship, and insurance, among others.
“Atedo is a remarkable man. His word is his bond. He is a man that understands that in any deal, a “win-win” is better than a “win-lose”. He is well respected in my country (South Africa) and I am sure that he is held in high regards here in Nigeria. He is a mentor that has groomed very competent leaders. This is evidenced in the succession planning that is playing out perfectly at Stanbic IBTC Holdings,” said Maree, former chief executive of Standard Bank Group.
On his part, Alhaji Dangote said, “I think that Atedo has done well for himself. I have served on many committees with him and have known him to be fearless, especially when he is convinced that he is standing by the truth. He is a man of integrity. I am sure that his successor on the board will do well because of the solid foundations that he has laid”.
The Emir of Kano traced his relationship with Peterside back to their studentship at Kings College, a shared experience that groomed them for leadership. “Over, the years, he has been a friend and a supporter, giving advice and encouraging me all the way. I have known him to be a consistently strict disciplinarian, hard on himself and everyone around him, but also fair and objective. He always does the right thing. I think that this is evident in the institution that he has built. I wish him well,” the revered Emir stated.
According to Tshabalala, “Over the years, I’ve come to appreciate Atedo’s style and the culture that he has created at Stanbic IBTC. I have come to appreciate his immense value and be inspired by his person. He has taught me the power of an integrated life. I have observed the seamless way in which he operationalizes his knowledge of Nigerian, African and Global financial services, his passion for good corporate and civic governance, his family and national identity.”
Stanbic IBTC Holdings PLC, a member of Standard Bank Group, a full service financial services group with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management. Standard Bank Group is the largest African bank by assets and earnings. It is rooted in Africa with strategic representation in 20 countries on the African continent. Standard Bank has been in operation for over 154 years and is focused on building first-class, on-the-ground financial services organizations in chosen countries in Africa and connecting other selected emerging markets to Africa and to each other, applying sector expertise, particularly in natural resources, power and infrastructure.