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Stanbic Bank Founder Atedo Peterside Steps Down From Board

Atedo Peterside, the founder of Stanbic IBTC Bank Plc, has announced his retirement from the board effective June 10, 2024.

Gatekeepers News reports that he confirmed this via his official X account on Monday.

“Today was the Annual General Meeting of Standard Bank Group Limited and I opted not to be re-elected as a Director. The retirement age is actually 70, but I believe 35 years is enough & the succession plans have worked well,” Peterside posted on X.

Peterside, a renowned entrepreneur, investment banker, and economist, has had a distinguished career spanning over three decades.

He served as the Chairman of Stanbic IBTC Bank from 2007 to 2014 and later as Group Chairman of Stanbic IBTC Holdings Plc from 2012 to 2017.

During his tenure, Peterside played a pivotal role in shaping the bank’s growth and expansion in Nigeria.

He is credited with transforming the bank into a leading financial institution in the country.

Peterside has also held various advisory roles in the government and private sector, including serving on the boards of Flour Mills of Nigeria, Nigerian Breweries, and Unilever Nigeria.

He is also the founder of Anap Foundation, a non-profit organization promoting good governance.

His retirement from the Stanbic Bank board marks the end of an era, but he remains a respected figure in the financial industry.

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