February 22, 2011: First City Monument Bank (FCMB) Plc has announced the appointment of Olufemi Bakre as the new Executive Director responsible for Institutional Banking Division, of the bank.

Olufemi has a wealth of experience in the banking industry spanning 22 years, of which 12 years was spent holding top management positions in commercial and merchant banking.

He is joining FCMB from First Bank of Nigeria Plc, where he worked as the Group Head, Public Sector of the Lagos Directorate of the bank; where he had also previously served as the Group Head, Multilaterals and Financial Institutions.

Prior to the acquisition of MBC International Bank by First Bank, he had worked at MBC for 17 years with progressively increasing responsibilities. The last position he held was General Manager—Branches, Multilaterals and Public Sector.

He also had a short stint as a Credit Analyst at the Continental Merchant Bank at the beginning of his banking career.

Olufemi holds a Masters degree in Banking / Finance from the University of Lagos as well as a Bachelors degree from the same institution. He is also a senior member of The Chartered Institute of Bankers, and a fellow of Direct Marketing Association of Nigeria.  He is a member of Nigeria Institute of Management and the Institute of Corporate Administration.