Greenwich Merchant Bank Limited, a financial services provider with focus on high- end financial products and services, has announced the appointment of Bayo Rotimi as its new managing director/chief executive officer.
He joins Greenwich Merchant Bank with over 27 years’ experience as an investment banking professional, having previously worked at Fountain Trust Merchant Bank, Lead Merchant Bank and FCMB Capital Markets Limited. He was, until recently, the chairman of the Investment Committee of ARM’S Discovery Aggressive Growth, Ethical, Money Market, Fixed Income and Eurobond Funds with over N110 billion under management.
Rotimi is an expert in corporate finance, capital raising (debt, equities, and hybrids) and financial advisory services ( mergers & acquisitions, corporate restructuring, privatisation advisory and project finance).
He is a member of the Institute of Directors; Associate of the Certified Pension Institute, and Chartered Institute of Bankers.
He is also a member of the Advisory Board of the Enterprise Development Centre ( EDC) of the Pan Atlantic University.
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He teaches Strategic Planning at the EDC and actively supports its various development initiatives such as the Experts in-residence program that mentors SMES.
Rotimi was an external member of Faculty at the Lagos Business School between 2009 – 2013 where he taught Finance on the MBA, Executive MBA, and Senior Management Programs.
Speaking on the appointment, Kayode Falowo, chairman, Greenwich Merchant Bank, stated that Rotimi’s track record and pedigree speak for themselves and offer a reassuring nexus between the corporate ideals that Greenwich is reputed for and proactive dynamism required to stay on the cutting-edge of innovation, product development and stakeholder satisfaction.
Bayo Rotimi, as MD/ CEO, will provide leadership and direction to the Management Team and be responsible for driving the Company’s overall strategic objectives and operational performance towards delivering optimal value for stakeholders in line with global best practice.
The industrial sector of any country is a catalyst for economic growth and if properly utilized will foster an impressive GDP performance and an agile economy. An impressive GDP serves as one of the indices of the economic wellbeing of a nation as it reflects other fundamental metrics that guarantee sustainable development, such as employment and inflation control.
The sustainable successes of these traditional economic giants and the rise of emerging ones, like the UAE, and China has consistently proven to us that creating an enviable economy is no rocket science; it only takes a visionary leader and a succession of others loyal to the vision through integrity, transparency, and teamwork.
Over the years, many countries, with the United Arab Emirate as the prime example, have raised their GDP to a high level through vigorous industrialization of their economies. From countries that were mediocre in the early 1980s, they have risen to become the most flourishing countries that attract the best brains around the world to propel them to produce world-class products and services.
Akwa Ibom, with a population of over five million and landmass of 6,900 square kilometers has made giant strides in tandem with the vision set for the state governor, Udom Emmanuel to transform the “Land of Promise” which was primarily a civil servant state into an economically stable state through sustainable and strategic industrialization.
Udom’s industrialization program has seen the birth of Ibom Airline with a fleet of four aircraft; establishment of an electric meter factory with capacity to produce about one million units of meters annually. His vision again attracted Turkish investors to set up a syringe manufacturing factory located in Onna Local Government Area with capacity to produce 350million units of 2ml, 5ml, and 10ml disposable syringes annually.
The first factory to produce toothpicks and pencils in Nigeria was set up in Akwa Ibom. This development has put an end to the importation of these basic products from China and other neighboring countries. The state also has established a plastic manufacturing plant at its Industrial Park in Itu. The plant has the capacity to generate one billion naira annually in addition to generating 10,000 jobs for the people of Akwa Ibom.
There is also a fledgling Coconut Oil Factory in Mkpat Enin Local Government Area of the state with capacity to generate about 1,500 direct jobs contributing about $20million to Internally Generated Revenue (IGR).
While presenting the 2021 budget, tagged: “Budget of Industrialization for Poverty Alleviation” to the House of Assembly, Udom said: “Our strategy for the development of this state has been the need to rapidly industrialize her, and create employment and wealth opportunities for our people. We have done exceed
ingly well in this regard through the over 20 industries we have attracted so far to this state, more of which would have attracted, if we were not hit by the COVID-19 pandemic.”
He further pledged: “As the world opens up POST-COVID-19, we will accelerate our pace in this area and continue to attract viable industries that would help with our strategic and sustainable developmental plans. We remain committed to the realization of our plans on ‘Power for All’ by 2021.”
Facts and figures also affirm that the Akwa Ibom governor is not resting on his oars as he stays focused on the five-point agenda — small and medium scale enterprises development; infrastructure, security, human capacity development; agriculture and rural and riverine area development.
In 2021, the state citizens are assured of more positive development from the governor who has already given a hint of the other developments in the offing when he disclosed his plans to establish, at least, one petrol refinery, one power plant, one petrochemical plant, one Liquefied Natural Gas (LNG) plant, one fertilizer manufacturing plant, and one steel plant in the state before the end of his administration in 2023.
