Wema Bank has appointed Oluwole Ajimisinmi as its new Deputy Managing Director and Olukayode Bakare as an Executive Director, following the retirement of Oluwole Akinleye after a decade of service on the bank’s board.

In a notice filed with the Nigerian Exchange Limited on Friday, the bank announced that Ajimisinmi’s appointment will take effect on December 1, 2024. Ajimisinmi, who previously served as the Executive Director overseeing the Lagos Business Directorate, joined Wema Bank in July 2009 as Company Secretary and Legal Adviser. He was elevated to the board as an Executive Director in 2020.

Ajimisinmi holds a law degree from the University of Jos and is a graduate of the General Management Program at Harvard Business School. Known for his extensive experience in banking and corporate governance, Ajimisinmi has been recognized for his strategic orientation, expertise in product development, and portfolio management capabilities. He currently supervises the Lagos Business Directorate and the bank’s Remedial/Recovery Department.

To fill Ajimisinmi’s previous role, the bank appointed Olukayode Bakare as an Executive Director. Bakare is a seasoned treasury and finance professional with over 32 years of experience spanning academics and banking. Before his appointment, he served as the Divisional Executive in charge of the Treasury, Wholesale Funding, and Global Trade Business of the bank. Bakare studied Economics at Ogun State University, earned an MSc from the University of Ibadan in 1995, and holds an ACI Dealing Certificate with distinction from the Financial Markets Association in Paris, France.

The board expressed confidence in the appointments, stating that Ajimisinmi and Bakare’s expertise and leadership will enable the bank to build on its achievements and continue delivering exceptional value to stakeholders.