Segun Agbaje is a highly respected figure in Nigerian banking. He is the former Managing Director and Chief Executive Officer of GTBank.
Segun Agbaje's leadership skills are evident in his tenure at GTBank, where he led the bank to unprecedented growth and success. He transformed the bank into a major player in the Nigerian banking industry.
Under his leadership, GTBank's profits soared, and the bank expanded its services to cater to a wider customer base. The bank's assets also grew significantly during his tenure.
Segun Agbaje's commitment to innovation and customer satisfaction is a key factor in his success as a leader in Nigerian banking.
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Career and Achievements
Segun Agbaje began his promising career as an Auditor at Ernst & Young, San Francisco, USA.
He left the United States in 1991 to join Guaranty Trust Bank (GTBank) as a pioneer staff, where he worked his way up the ranks.
Agbaje was appointed as GTBank’s Executive Director in 2000 and as Deputy Managing Director in 2002.
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He acted as the bank’s Managing Director in April 2011 when Tayo Aderinokun, then MD, was on medical leave.
Upon Aderinokun's demise in June 2011, Segun Agbaje was named the MD of GTBank.
Agbaje helped develop the Interbank Derivatives market among dealers and introduced the Balance Sheet Management Efficiency system.
Under his governance, GTBank evolved into a premier and profitable financial institution in Africa.
The bank became one of the highest employers of labour in Nigeria.
Agbaje played a great role in moving the bank’s business dealings from a corporate banking stronghold to retail marketing.
He was instrumental in putting together GTBank’s landmark USD350million Eurobond offering in 2007.
Later that year, he helped the bank list its US$750 million Global Depository Receipts (GDR) in the domestic and international capital markets.
GTBank became the first bank in Sub-Saharan Africa to be listed on the Main Market of the London Stock Exchange.
Agbaje led the bank to launch the first Sub-Saharan African financial sector benchmark Eurobond in 2011.
GTBank launched its USD500million Eurobond without any government support or credit enhancement from any international financial institution.
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Recognitions and Awards
Segun Agbaje has received numerous recognitions and awards for his outstanding leadership and contributions to the banking industry.
He was named African Banker of the Year at the African Banker Awards 2012.
Awards from reputable organizations such as City People Awards for Excellence, World Finance Awards, and EMEA Finance Awards have consistently recognized Agbaje's exceptional leadership.
He was awarded CEO of the Year at City People Awards for Excellence in 2012.
Agbaje's leadership has been recognized by World Finance Awards, with multiple Banker of the Year awards.
He was named Banker of the Year- Africa by World Finance Awards in 2013.
In addition to individual awards, Agbaje has also led his organization to win awards such as Banker of the Year by World Finance (UK) Awards in 2014.
He was awarded CEO of the year at Finance Monthly Global Awards in 2015.
Agbaje's leadership has been recognized by multiple organizations, including Finance Monthly CEO Awards and African Investor Awards.
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He was named CEO of the Year at Finance Monthly CEO Awards in 2015.
Agbaje's achievements have been recognized by EMEA Finance Awards, with multiple CEO of the Year awards.
He was awarded CEO of the Year at EMEA Finance Awards in 2017.
Agbaje's leadership has been recognized by multiple organizations, including Finance Monthly CEO Awards and World Finance Awards.
He was named CEO of the Year at Finance Monthly CEO Awards in 2017.
Agbaje's leadership has been recognized by World Finance Awards, with multiple Banker of the Year awards.
He was named Banker of the Year (Africa) at World Finance Awards in 2017.
Agbaje's leadership has been recognized by multiple organizations, including African Investor Awards.
He was named Ai 100 CEO’s of the Year by African Investors Awards in 2017.
Agbaje's leadership has been recognized by World Finance Awards, with multiple Banker of the Year awards.
He was named Banker of the Year (Africa) at World Finance Awards in 2018.
Agbaje was also named African CEO of the Year at ADIC Awards in 2018.
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GTBank Leadership
Under Segun Agbaje's leadership, GTBank broke new grounds in the Nigerian banking industry by developing the Interbank Derivatives market among dealers and introducing the Balance Sheet Management Efficiency system.
Agbaje's governance transformed GTBank into a premier and profitable financial institution in Africa, making it one of the highest employers of labor in Nigeria.
He successfully moved the bank's business dealings from a corporate banking stronghold to retail marketing, which is more market-oriented.
GTBank's landmark USD350 million Eurobond offering in 2007 was a result of Agbaje's instrumental efforts.
The bank's listing of its US$750 million Global Depository Receipts (GDR) on the domestic and international capital markets that same year was a notable achievement under Agbaje's leadership.
GTBank became the first bank in Sub-Saharan Africa to be listed on the Main Market of the London Stock Exchange.
In 2011, Agbaje led the bank to launch the first Sub-Saharan African financial sector benchmark Eurobond, which was a USD500 million offering without any government support or credit enhancement from any international financial institution.
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GTBank's Performance
Under Segun Agbaje's leadership, GTBank's performance was nothing short of remarkable. The bank's profits before tax grew by 16% in 2015, reaching a record high of N134.8 billion.
GTBank's commitment to innovation paid off, with the bank's digital banking platform experiencing a significant surge in adoption. Over 1 million customers used the platform to carry out transactions in 2015.
The bank's focus on customer satisfaction led to a significant increase in customer loyalty. GTBank's customer retention rate rose to 75% in 2015, a testament to the bank's dedication to its customers.
GTBank's expansion plans were also a key aspect of Segun Agbaje's strategy. The bank opened 50 new branches in 2015, bringing the total number of branches to 222 across Nigeria.
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