Ecobank announces appointment of new chairman
Pan-African banking group, Ecobank, has announced the appointment of Mr Alain Nkontchou, a Cameroonian and Independent Non-Executive Director since 2015, as Board Chairman of its holding company, Ecobank Transnational Incorporated (ETI).
In a statement signed by the Group Head, Corporate Communication, Mrs Adenike Laoye, on Monday it was stated that the appointment of Mr Nkontchou took effect from June 30, 2020 to fill the vacant spot left by Mr Emmanuel Ikazoboh, a Nigerian, who ended his six-year tenure as Chairman in June having reached the retirement age of 70, in accordance with the group’s Articles of Association.
Speaking on his appointment, Mr Alain Nkontchou said: “I am honoured to be appointed as Chairman of Ecobank Transnational Incorporated. Having served on its Board since 2015, I have seen Ecobank’s resilience and its proud history, built on a strong foundation to secure the Bank’s future success.
“I look forward to working with the Board and Executive team as we continue our journey ahead and I know that we are well-placed to navigate through the current environment and set the standards in financial services for our customers across Africa.
“I would also like to express my thanks to my predecessor, Mr Emmanuel Ikazoboh, for his leadership of the Board and to wish him all the best for the future.”
Commenting on Mr Nkontchou’s appointment, the Chief Executive Officer of Ecobank Group, Mr Ade Ayeyemi said: “The entire Management of the Group and I warmly welcome Mr Nkontchou as Group Chairman. We will give him and the Board our continued full support in ensuring the realisation of the strategic imperatives of the Ecobank group.
“Mr Nkontchou has always utilised his wealth of experience on the Board and we look forward to his successful and strong leadership,” he added.
Mr Alain Nkontchou is the Managing Partner and co-founder of Enko Capital Management LLP, an asset management company based in London and Johannesburg, which focuses on African investment opportunities.
He was an advisor at Laurent Perrier champagne, having been a Non-Executive Director from 1999 to 2009. He was Managing Director of Credit Suisse’s Global Macro Trading Group in London between 1995 and 2008 and also at JP Morgan Chase & Co. in the same capacity. Between 1989 and 1994, he was with Chemical Bank in Paris and New York, where he became Vice- President, Head of Trading and Sales.
Mr Nkontchou has a track record of business success, having generated significant dollar revenues for each of these top tier institutions. He has an MSc in Electrical Engineering from Supélec and P.M. Curie University, Paris, and an MSc in Finance and Accounting from ESCP (Ecole Supérieure de Commerce de Paris).