United Capital gets new Group Chief Executive Officer

By Chioma Obinagwam

The board of United Capital Plc. has announced the appointment of Peter Ashade as its new Group Chief Executive Officer (GCEO).

This was disclosed in a statement published on the Nigerian Stock Exchange (NSE) on Wednesday.

According to the statement, Ashade replaces the outgoing GCEO Oluwatoyin Sanni.

However, the company in the notice did not give reasons for her resignation.

Ashade was the Managing Director of African Prudential Plc. (formerly African Prudential Registrars).

Earlier, Sanni had announced her resignation from the firm in a post on her Linkedin page.

She was appointed Group Chief Executive Officer (GCEO) in January 2014.

While not giving specific reasons for her action, she however hinted at the possibility of starting a venture of her own.

Prior to working at United Capital, she had stints at First Trustees (now FBN Quest Trustees) and the Cornerstone Group.

Ashade’s appointment takes effect on June 30, 2018, subject to regulatory approval.

About Ashade:

Peter Ashade joined the services of UBA registrars (the forerunner of African Prudential) in June 2006. He holds a B.Sc. in Banking and Finance, an MSc in finance from the University of Lagos (UNILAG), and a Masters in Business Administration (MBA) from the Obafemi Awolowo University (OAU), Ile-Ife.

He is also a member of several professional bodies including the Chartered Institute of Bankers of Nigeria (CIBN), Chartered Institute of Taxation of Nigeria (CITN) and Institute of Capital Market Registrars (ICMR).

More so, United Capital Plc was incorporated in Nigeria as a limited liability company on March 14, 2002. It became a public company and was listed on the NSE in January 2013 after a successful spin-off from United Bank for Africa Plc.

The move was following an instruction by the Central Bank of Nigeria (CBN) in December 2011 to commercial banks to either spin off their non-banking subsidiaries or form a Holding Company (HOLDCO).