Coronation Merchant Bank taps Paul Abiagam to lead as acting MD/CEO
Business a.m.
Paul Abiagam, newly appointed acting MD/CEO, Coronation Merchant Bank
Coronation Merchant Bank, Nigeria’s leading investment bank , has announced the appointment of Paul Abiagam as the bank’s acting managing director and CEO.
The bank stressed that this strategic appointment, which is effective immediately, is a part of a comprehensive succession plan designed to guarantee its continued leadership in the African financial subsector and ensure its ongoing innovation.
Abiagam, who was previously the deputy managing director of Coronation Merchant Bank, steps into his new role with a wealth of experience and a proven track record of driving strategic initiatives that have resulted in substantial improvements in the bank’s financial and operational performance.
The new acting MD/CEO also brings to the table a diverse skill set, spanning corporate, commercial, and consumer banking, with a notable focus on strategic business development and wealth management.
Through his professional career, spanning over two decades, Abiagam is renowned to have built a reputation for leading high-performing teams to achieve remarkable results. His roles at recognised financial services companies, involved driving significant transformations with innovative strategies, aligning systems with corporate goals, thereby unlocking exponential profitability and growth.
Moreso, his leadership skills are complemented by his strong analytical capabilities in finance, risk management and operations, which have been instrumental in developing cutting-edge insights that propel sustainable profits. In addition,his forward-thinking approach to international trade finance and asset management has established him as a leader within the banking industry.
Before joining Coronation Merchant Bank in 2023, Abiagam served in several senior roles both locally and internationally. He was the pioneer managing director at Guaranty Trust Pension Managers Ltd., provided oversight as non-executive director at Guaranty Trust Bank (Cote D’Ivoire) Ltd., and held various leadership positions at Guaranty Trust Bank Ltd., Nigeria including GM & divisional head, Corporate Banking Division (Lagos Island).
An alumnus of the University of Benin (B.Sc. in Botany), Abiagam also holds an MBA Lagos Business School, and served as sub-chair of the institution’s Alumni Association Committee from 2018 to 2022. In 2011, he was honoured as a senior member of the Chartered Institute of Bankers of Nigeria. He is also a Fellow of the American Institute of Certified Public Accountants, the Chartered Institute of Management Accountants in the United Kingdom, and a member of the Chartered Institute of Directors, Nigeria.
Commenting on the new appointment, Babatunde Folawiyo, chairman of Coronation Merchant Bank, said, “Paul is a proven leader whose strategic acumen and extensive experience in the banking sector make him the ideal choice to steer Coronation Merchant Bank through its next phase of growth. His appointment as Acting Managing Director/CEO aligns with our phased leadership transition plan, which has been carefully executed with the cooperation of the erstwhile MD/CEO, Banjo Adegbohungbe. We have full confidence in Paul’s ability to drive our strategic goals and deliver exceptional value to our stakeholders.”
Coronation Merchant Bank reiterated its commitment to its mission of enabling a financially prosperous future for its clients and the African continent, by providing world-class services. With Paul Abiagam now leading the bank, it aims to continue on its path of innovative growth and sector leadership.