Abia guber: Alex Otti resigns as Diamond Bank GMD/CEO

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Alex Otti resigns as Diamond Bank GMD/CEO

Uzoma Dozie named successor

The Group Managing Director/ CEO of Diamond Bank Plc, Dr. Alex Otti, has stepped down in order to pursue his gubernatorial ambition in the forth coming general elec tion in Abia State.

A reliable source in the bank, who preferred anonymity told Saturday Sun that the decision to step down from his lofty position would afford him the opportunity to fully en­gage in political campaigns ahead of the elections.

As a result, the Board of the bank has announced the appointment of Mr. Uzoma Dozie as its new Group Managing Director/CEO, which is subject to the approval of Central Bank of Nigeria (CBN).

In an official statement released by the Bank’s Corporate Communications Department, Chairman of the Board of Directors, HRM Igwe Nnaemeka Alfred Achebe (the Obi of Onitsha) announced the changes in management stating that Mr. Dozie’s appointment was in recognition of his extensive managerial capabilities.

According to the statement, “We are pleased to announce the appointment of Mr. Uzoma Dozie as the new Group Managing Director/Chief Executive Officer of Diamond Bank Plc in consonance with the bank’s succession strategy and in recognition of Mr. Dozie’s wealth of banking knowledge.”

Dr Otti is expected to make his formal declaration at Aba on wednesday after paying for the PDP nomination form at Abuja on monday. Watchers of Abia politics have welcomed his entrance into the race as further enrichment of the political field already brimming with aspirants of high quality.

*Profile of Dr Alex Otti

Dr. Alex Otti graduated from the University of Port Harcourt with a First class honors degree in Economics in 1988 and an MBA from University of Lagos in 1994.

At the University of Port Harcourt, he was the best graduating student in the department of Economics and won the subject prize.  He was also the best graduating student in the faculty of Social Sciences and won the Dean’s Prize, as well as the overall best graduating student for the year and the valedictorian.

 He started his banking career with Nigeria International Bank Limited, a subsidiary of Citibank N.Y. in 1989. Towards the end of 1996, he moved to United Bank for Africa Plc as Principal Manager and Head, Corporate Banking Sector, South. His major responsibility was the development of the Oil and Gas business for the Bank.  In the year 2000, he was promoted Assistant General Manager.

 In May 2001, he joined First Bank of Nigeria Plc as an Assistant General Manager with responsibility for the Bank’s Energy Group.  In April 2004, he was promoted to Deputy General Manager and in September 2005, he was appointed Executive Director Commercial Banking.  In October 2006, he was redesignated Executive Director (South), and given the responsibility to oversee the bank’s businesses in both South-South and South Eastern geo-political zones of Nigeria.

On March 1, 2011, he assumed duties as the Group Managing Director/CEO of Diamond Bank Plc. In less than 2 years of his leadership, Diamond Bank has more than doubled its customers deposit and total assets while profitability has grown by over 600%. Under his watch, shareholders confidence in the bank was restored as the stock price reached its highest level for 20 months, in January 2013.

Dr. Otti has served in the following capacities on the board of various institutions and companies amongst which are:

Director, Airtel Nigeria Limited (2005 – 2011);
Director, FBN Mortgages Limited;
Director, First Pension Custodian Nigeria Limited;
Member, Governing Council of the University of Port Harcourt (2007 – 2012);
Chairman, Economics & Statistics committee, Lagos Chamber of Commerce and Industry;
Member, Governing Council of Babcock University;
Fellow, Chartered Institute of Bankers of Nigeria;
Member, Institute of Directors;
Chairman, Body of Bank CEOs, Chartered Institute of Banking.

He is an Alumnus of Harvard Business School (AMP 177), and has also trained at Graduate School of Business, Stanford University California, Wharton Business School, University of Pennsylvania and Columbia Business School, Columbia University New York. He has also been honored with a Doctor of Business Administration degree by Babcock University in 2009, a Doctor of Science degree by the University of Port Harcourt in 2012, and a Doctor of Public Administration degree by the University of Nigeria, Nsukka in January 2013.

In recognition of his commitment and contributions to community development, he has been given several chieftaincy titles and honors, including:
Ugwu Aro of Arochukwu kingdom; Ikemba of Aba; Opia Egbe Imenyi of Nkwerre; and Ochudo of Udi Kingdom.

He loves playing squash, listening to music, reading, traveling and meeting people.  He is happily married and blessed with three lovely children.

Culled from Sun Newspaper and USAfrica Magazine

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