STERLING Financial Holdings Company PLC, has announced the appointment of two new members to the vastly experienced board of directors of the group and subsidiary, Sterling Bank Limited.
The appointments were detailed in a notification to the Nigerian Exchange (NGX) on Wednesday, 18 September 2024.
According to the notification signed by the Company Secretary and Group Chief Legal Counsel, Temitayo Adegoke, Sterling HoldCo has appointed Mr. Ashutosh Kumar as a Non-Executive Director while Professor Olayinka David-West has joined the board of Sterling Bank Limited as an Independent Non-Executive Director.
Commenting on the appointments, Adegoke said the appointments are strategic additions to the companies’ leadership teams, bringing a wealth of experience and expertise to their respective roles.
He said, “With Mr. Kumar joining the board of the holding company, Sterling HoldCo has now added the invaluable wealth of experience of a seasoned executive from India, one of the most advanced financial services and technology markets in the world. His versatility in international banking, trade finance, performance planning, and regulatory reporting adds even more strength and vigour to drive our ambitious growth plans in the short and mid-term.
The company secretary added that, “Professor David-West’s appointment to the Board of Sterling Bank is a deliberate choice that allows us to rapidly scale the practical applications of the latest technologies and innovations. Her pedigree as an applied educator and operator in her field is unmatched, and we look forward to her guidance in shaping the future of the bank through her service on the board.”
Kumar joins Sterling HoldCo’s board as the current country head of the State Bank of India’s South Africa operations. He has a Bachelor’s degree in Economics with honours. He is a Certified Financial Accountant (CFA), a certified treasury professional and a Certified Associate of the Indian Institute of Banking and Finance. He also holds certifications in securities operations, currency and equity derivatives.
Professor David-West is a Professor of Information Systems and an Associate Dean at the Lagos Business School, one of Africa’s leading institutions for executive education. She leads the Sustainable and Inclusive Digital Financial Services (SIDFS) initiative; a research and advocacy initiative dedicated to enhancing financial inclusion in Nigeria.
She joins Sterling Bank’s board as a Certified Information Systems Auditor (CISA), Certified in the Governance of Enterprise IT (CGEIT), and an academic advocate to the Information Systems Audit and Control Association (ISACA). She is also a qualified practitioner of the Skills Framework for the Information Age (SFIA).
Last year, Sterling HoldCo transitioned from a commercial bank to a full-fledged financial holdings company with two subsidiary banks: the specialized financing arm, The Alternative Bank, and the conventional commercial bank, Sterling Bank which recently achieved a continental first with its migration to the continent’s first indigenously built core banking system.
Sterling is renowned for its HEART of Sterling strategy, which focuses on major investments in Healthcare, Education, Agriculture, Renewable Energy, and Transportation sectors of the Nigerian economy, as well as its bold brand voice and enviable talent management practices.
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