WEDNESDAY, 15 JUNE 2011 00:00 BY ADE OGIDAN, BUSINESS EDITOR NEWS - NATIONAL
CO-FOUNDER and until yesterday, the Managing Director of Guaranty Trust Bank (GTB) Plc, Olutayo Adeleye Aderinokun, is dead. He was aged 56.
Aderinokun, who had been on medical leave, passed on yesterday afternoon in a London, United Kingdom (UK) hospital. A few weeks ago, it was reported that he fell in his house and was thereafter rushed to the London hospital, where he eventually died.
The late banker was said to have been diagnosed of a terminal disease.
He co-founded GTB in 1990 and served as its deputy managing director for 12 years between 1990 and 2002 before he became the managing director, a position he held until his death.
A statement from the bank yesterday said, in his time as the bank boss, GTB witnessed tremendous growth and had emerged over the years as an industry leader, pacesetter with progressive innovations in the industry.
The bank is now easily acknowledged and recognised as one of the most profitable and professionally managed financial institutions in Nigeria and has been the recipient of several awards for exemplary corporate governance practices and excellent customer service.
Aderinokun was also the recipient of numerous awards as an acknowledgement of his sterling leadership role in the achievements of the bank.
The awards include Banker of the Year at the inaugural ThisDay Awards in 2006, Most Respected CEO by PricewaterhouseCoopers in 2008 and African Banker of the Year by the “African Banker” magazine in September 2009.
He was also a recipient of the National Award of Member of the Federal Republic of Nigeria (MFR) and a Fellow of the Chartered Institute of Bankers, Nigeria (FCIB).
Segun Agbaje, who was Deputy Managing Director from 2002 till April 20, 2011, was appointed as Acting Managing Director of the bank when Aderinokun was indisposed.
Aderinokun worked with the Central Bank of Nigeria (CBN) from the start of his professional career in 1977 till 1981 when he joined Continental Merchant Bank Limited in 1981.
He rose to the rank of manager and was in charge of Kano branch until 1988 when he left for Prime Merchant Bank Limited as Assistant General Manager and Head of the Financial Services Division.
In September 1989, Aderinokun was at First Marina Trust Limited, a financial services and project management company where he was Managing Director before joining GTB at inception as Deputy Managing Director.
He holds a Bachelor of Sciences degree in Business Administration from the University of Lagos and a Master of Business Administration in International Business from the University of California, Los Angeles, United States of America (USA).
He became Chief Executive Officer of the bank following Fola Adeola’s exit.
Under Aderinokun, the bank consolidated its reputation for efficiency and aggressive growth.
His professional education included credit and relationship management training at the Chase Manhattan Bank Institute for International Banking New York, USA (1982-1983).
Aderinokun also served as a Director at Guaranty Trust Assurance Plc and Kakawa Discount House Limited.