First Bank of Nigeria Plc (FirstBank) has announced the appointment of Michael Oyebola as Senior Vice President & Head, Asset Management of its investment banking and asset management business (IBAM). Mr. Oyebola has a wealth of experience spanning 18 years both locally and abroad, and he is expected to lead the asset management business of the company. 
 
He is joining FirstBank from Guaranty Trust Assurance Plc (GT Assur) a subsidiary of Guaranty Trust Bank (GTBank) where he worked as Chief Investment Officer. While at GT Assur he led the investment management team that managed N17 billion of Guaranty Trust Assurance and client funds. He also headed Assur Asset Management (the asset management subsidiary of Guaranty Trust Assurance). Prior to that he was pioneer Head of Investment for Crusader Sterling Pensions Ltd (a PFA) from September 2005 to November 2006 where he launched and managed the pioneer Crusader Pensions Value Fund
 
Mr Oyebola holds a Masters degree in Finance from Middlesex University, London and an MSc. in Investment Analysis from the University of Stirling, Scotland. He is also an Associate Member of CFA UK, a member of the CFA Institute as well as an Alumnus of the Lagos Business School having completed the Advanced Management Program (AMP).
 
His other previous overseas engagements include working at Mellon Bank, Legal & General, Regent Fund Management, and Investec Asset Management. He also had stints at Laxey Partners (Head of Treasury, Hedging & Derivatives, managing $350m) and Thornhill Investment Management (member of the fund management team, managing £500m).
 
Commenting on the appointment, Osaze Osifo, Managing Director and CEO of IBAM said he was delighted to welcome Oyebola to FirstBank. “His appointment is in congruence with our plans to build and strengthen our investment banking and asset management business and position it as the dominant player in Nigeria and indeed sub-Saharan Africa,” he stated.
 
IBAM takes responsibility for all FirstBank’s investment banking and asset management businesses across the different subsidiaries which include FBN Capital, First Trustees, First Funds and its global custody business.