 |
First HoldCo Subsidiaries New Leadership |
First HoldCo subsidiaries new leadership brings experienced board members to asset management, investment banking, brokerage, trusteeship, and insurance arms — boosting governance and strategic growth.
In early 2026, First HoldCo subsidiaries new leadership headlines dominated Nigerian financial news as First HoldCo Plc announced a series of strategic board appointments across its non-banking subsidiaries. This move reflects a broader effort to strengthen governance, deepen operational oversight, and position the group — one of Africa’s most established financial institutions — for sustainable growth in an increasingly competitive industry.
Below, we break down what happened, who the new leaders are, why this matters, and what it means for the group’s future.
First HoldCo’s Strategic Leadership Shake-Up
First HoldCo Plc, previously known as FBN Holdings Plc, recently announced a major leadership reconfiguration across its key non-banking subsidiaries. The changes follow regulatory approvals from the Securities and Exchange Commission (SEC) and the National Insurance Commission (NAICOM), affirming the appointments’ governance integrity and compliance.
This reshuffle is part of First HoldCo’s long-term ambition to strengthen its core financial services ecosystem across asset management, capital markets, trusteeship, securities brokerage, and insurance brokerage segments.
Why the Leadership Changes Matter
The announcement of First HoldCo subsidiaries new leadership signals several institutional priorities:
- Enhanced corporate governance: Appointing seasoned professionals with deep industry experience aligns with global best practices and regulatory expectations.
- Strategic growth positioning: Robust leadership can help each subsidiary capture market opportunities — from asset management and wealth advisory to stockbroking and trusteeship services.
- Future-ready operations: These appointments aim to strengthen oversight, expand product offerings, and build resilience in dynamic financial markets.
Overall, the leadership decision reflects First HoldCo’s commitment to resilient governance and value creation for stakeholders.
New Leadership Across Key Subsidiaries
Here’s a breakdown of the major leadership appointments across First HoldCo’s subsidiaries:
First Asset Management Limited
- Chairperson: Ebikabo Williams
Williams brings extensive experience from her time as Vice President at Citibank Nigeria and as a board member at Bancorp Finance. Her experience in banking, capital markets, and consulting positions her to lead First Asset Management with strength and strategic insight.
Other board members include:
- Usman Dantata Jr.
- Binta Max Gbinije
- Alero Mobola Adollo
This leadership team reflects diversity and deep financial expertise.
FirstCap Limited
- Chairperson: Yewande Amusan
Yewande Amusan’s career spans over 25 years in finance, including senior roles in consumer banking and consulting. She is supported by:- Adenike Kuti
- Zeal Akaraiwe
- Ahmed Indimi
- Irene Akpofure
Their collective expertise is expected to drive FirstCap’s capital markets and investment banking agenda.
First Securities Brokers Limited
- Chairman: John Akpeki
Akpeki is a corporate lawyer with more than two decades of experience in legal and compliance matters, especially commercial and corporate law.
Supporting board members are:
- Omolara Adeyemi
- Susan Younis
- Kemi Andu-Alausa
Their leadership is poised to reinforce First Securities Brokers’ role in brokerage and securities trading.
First Trustees Limited
- Chairman: John Lee
With over 40 years in global financial services spanning corporate banking and wealth management, John Lee’s leadership in trusteeship and estate management provides a strong foundation for growth.
Board members supporting him include:
- Abiola Alabi
- Adebisi Sola-Adeyemi
- Ugochukwu Obi-Chukwu
Their stewardship is expected to elevate First Trustees’ capabilities in trust services.
First Insurance Brokers
- Chairman: Akinola Phillips
Phillips has extensive leadership experience, including roles as CEO of Philronk Facility Management Company and key HR and administrative positions in major firms.
Supporting directors are:
- Ije Onejeme
- Folukemi Akinmeji
- Mojisola Cardozo
Their diverse experience will be critical in navigating insurance brokerage services amid competitive pressures.
The Context: First HoldCo’s Broader Transformation
The introduction of new leadership across subsidiaries isn’t occurring in a vacuum. First HoldCo’s transformation has been ongoing:
- In 2025, FBN Holdings rebranded to First HoldCo Plc, aiming to unify its identity and streamline operations across the financial services ecosystem.
- Strategic decisions, including divesting from non-core banking assets (such as FBNQuest Merchant Bank), have refocused the group’s resources on its core strengths while supporting innovation and customer-centric offerings.
This broader evolution reinforces the importance of placing strong leaders at the helm of each subsidiary to harness market opportunities and navigate regulatory complexities.
What This Means for the Market
The leadership updates across subsidiaries signal First HoldCo’s recognition of several key trends in financial markets:
Stronger Governance Pays Off
Regulatory bodies like the SEC and NAICOM are increasingly emphasizing governance, transparency, and risk oversight. Appointing experienced professionals aligns First HoldCo with these priorities and boosts investor confidence.
Specialized Expertise Drives Subsidiary Growth
Each board appointment is tailored to the needs of the subsidiary’s domain — whether asset management, investment banking, or trusteeship — emphasizing targeted leadership rather than generalist management.
Enhancing Strategic Oversight
New leadership teams are expected to refine strategy execution, prioritize innovation, and strengthen risk management frameworks across subsidiaries.
The Big Picture: First HoldCo’s Leadership Legacy
First HoldCo’s new appointments reflect a culmination of strategic shifts that began with its rebranding and governance reforms. The group’s leadership evolution highlights the importance of:
- Institutional stability
- Regulatory alignment and compliance
- Experience-based board composition
- Growth-oriented governance structures
As First HoldCo continues to build out its subsidiaries’ capabilities, these leadership teams will play pivotal roles in enhancing competitive positioning and driving long-term value creation.
Frequently Asked Questions (FAQ)
What prompted the recent leadership changes in First HoldCo subsidiaries?
The leadership changes were part of a strategic governance and performance enhancement drive, following regulatory approvals from the Securities and Exchange Commission and the National Insurance Commission.
How do these leadership changes affect investors?
Stronger leadership teams enhance governance, risk management practices, and strategic execution potential, which can boost investor confidence and support long-term performance.
Are these changes limited to non-banking subsidiaries?
Yes. The recent appointments focused on non-commercial banking units like asset management, trusteeship, and brokerage services.
What future developments might arise from this leadership refresh?
With a new leadership cohort, First HoldCo subsidiaries are positioned to accelerate product innovation, expand market share, and deepen client engagement.
Stay informed about First HoldCo’s strategic developments and leadership changes by subscribing to our updates, following authoritative financial news outlets, and reviewing official filings on the Nigerian Exchange Group (NGX) platform.
Whether you’re an investor, stakeholder, or financial services professional, these leadership decisions herald a new era for First HoldCo’s subsidiaries in 2026 and beyond.
