Coronation Merchant Bank Limited Strengthens Management Team With Key Appointments

Banjo Adegbohungbe

Coronation Merchant Bank Limited has announced the appointment of three key experienced professionals to its executive management team.

A statement from the Bank explained that the new appointees are expected to strengthen its management team and bring fresh expertise in its operations.

The Executives joining the Bank are:

Mr. Arini Awotunde, who has taken up the role of Chief Financial Officer (CFO). Arini is an experienced financial expert with about two decades’ experience in diverse aspect of financial control. He is a fellow of the Chartered Institute of Bankers of Nigeria, the Institute of Chartered Accountant of Nigeria, and an associate of the Chartered Institute of Taxation of Nigeria. His area of competence also includes an advanced understanding of the International Financial Reporting Standard (IFRS), the U.S Corporate Reporting and the American Financial Accounting Standards.

Mr. Saheed Alamutu, joined the Bank as the Chief Risk Officer (CRO). Saheed has over two decades’ experience in corporate governance, risk management and compliance. He is a fellow of the Chartered Institute of Bankers in Nigeria (CIBN) and a member of Chartered Institute of Bankers in Scotland. He is also a member of the Chartered Institute for Securities, and Investment, United Kingdom (MCSI) and the Institute of Operational Risk (PIOR), also in the United Kingdom. In his previous roles, he contributed significantly to elevating risk management to a strategic enabler of organization goals.

Mr. Paul Abiagam joins the Bank as the Deputy Managing Director. Paul is an accomplished professional with over 25 years of banking experience in Nigeria and West Africa. He is a fellow of the American Institute of Chartered Management Accountants (AICPA) and the Chartered Institute of Management Accountant (CIMA United Kingdom). He is also a member of the Chartered Institute of Directors, Nigeria (CIoD) and an Honorary Senior member of the Chartered Institute of Bankers of Nigeria (HCIB). His experience spans across Corporate, Commercial & Investment Banking, Wealth/Pension Management, Project Management and Strategy, as well as International Trade, and Risk Management.

Paul has a distinguished record of accomplishment in his past leadership positions, notably as Group Head of Corporate Banking in Guaranty Trust Bank Limited, Non-Executive Director of Guaranty Trust Bank (Cote D’Ivoire) Limited and Managing Director of Guaranty Trust Pension Managers (a subsidiary of Guaranty Trust Holding Company Plc).

Commenting on the appointment, the Chairman of Coronation Merchant Bank Limited, Mr. Babatunde Folawiyo, while congratulating the new members of the management team enthused that, “with their wealth of experience, expertise, and commitment to excellence and innovation, the newly appointed executives will be reinforcing our position as a leading force in the Nigerian financial services industry.”

Also welcoming the executives, Mr. Banjo Adegbohungbe, MD/CEO of Coronation Merchant Bank Limited, stated that “the track record and deep understanding of the appointees in the financial service industry will be instrumental in driving strategic initiatives as we remain focused on delivering exceptional value to our clients.” 

About Coronation Merchant Bank Limited

Coronation Merchant Bank Limited was established in 2015 to provide wholesale banking to a long-underserved market. The Bank offers Corporate & Investment Banking, Private Banking/Wealth Management and Global Markets/Treasury Services to its niche clientele. It is the first and only merchant bank in Nigeria with an international risk rating. It presently has two branches in Abuja and Port Harcourt with its Head Office in Lagos, Nigeria.


The Bank has been the recipient of numerous international and national awards including Best Investment Bank in Nigeria by Global Finance, Best Investment Bank in Nigeria by World Finance, Best Investment Bank in Nigeria by Global Banking & Finance Review, Best Investment Bank by Global Business Outlook, Best Investment Bank in Nigeria by International Finance and Best Investment Bank in Nigeria at the BusinessDay Banking and Financial Institution Awards.


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