Legacy Pension Restructures Amidst FCMB Takeover

By Nse Anthony-Uko
(Sundiata Finance) – Following the recent acquisition of 60 per cent stake in Legacy Pension Managers by First City Monument Bank (FCMB) Group, bringing its interest in the company to 88 per cent, the Pension Fund Administration (PFA) is now restructuring its management to reflect the interest of the new investor.
To this end, the management appointed Mr Ladi Balogun as Chairman and Board and James Ilori as Non-Executive Director of Legacy Pension Managers.
Mr. Balogun was, until March 2017, the Chief Executive Officer of FCMB, the retail and commercial banking subsidiary of FCMB Group. He has over 23 years’ experience in the financial services industries in Europe, the United States of America and Africa. He also holds a Bachelor’s degree in Economics from the University of East Anglia, United Kingdom and a Masters in Business Administration (MBA) from Harvard Business School, United States of America.
His appointment in 2007 as the Managing Director of First City Monument Bank Limited saw the transformation of FCMB from an investment bank to a prominent mid-tier Nigerian commercial bank and financial services group.
Mr James Ilori, on the other hand, has vast experience in Research, Business Development, Risk Management, and all areas of the investment decision-making process acquired from leading organisations in Nigeria and the United Kingdom.
Before his appointment as the Chief Executive Officer of First City Asset Management (FCAM) in 2014, he worked as a fixed income fund manager with Crown Agents Investment Management in the United Kingdom.
The appointments signal Legacy Pension’s intent of tapping into the investment and distribution synergies that FCMB Group brings to Legacy Pensions.

Leave a Reply

Your email address will not be published. Required fields are marked *


Sundiata Post Media Ltd.

Address: 3rd Floor Office Suite, Bayelsa State Guest House, Plot 1038, Shehu Shagari Way, Maitama, Abuja, Nigeria.
Tel: +234(0)92900705, +234(0)8173460599
Whatsapp: +234(0)8053069436
BBM PIN: 5619150D
Email: info@sundiatapost.com
Website: www.sundiatapost.com

Enugu Regional Office: SW 1 New Haven Shopping Mall, Enugu, Enugu State, Nigeria.
Tel: +234(0)7062582838

London Office: 18 Belgrave Avenue, Wd18 7UE, Watford, United Kingdom.
Tel: +447417554143

Washington Office: 1245 Delafield PI NE, Washington DC 20017, USA.
Tel: 0092404216156

About Us

SundiataPost is published by Sundiata Post Media Limited, Sundiata Post is Nigeria’s most authoritative online newspaper and ranks among the top five online news platforms in Nigeria.

Guild of Corporate online publishers
A Glance at Our Advert Rate.

Inside Pages

Size In Pixels - Amount

120×180 - N27,967.50

300×100 - N24,695

Text Link - N11,275

More Details info

About Us | Contact Us | Privacy Policy | Terms of Use | Advert Rate