First HoldCo Plc has announced a series of board appointments across its non-commercial banking subsidiaries, in a move aimed at reinforcing governance and driving growth outside its core banking operations.
The appointments, all of which received regulatory approval, affect First Asset Management Limited, FirstCap Limited, First Securities Brokers Limited, First Trustees Limited and First Insurance Brokers. The changes come as competition intensifies in Nigeria’s asset management, wealth management and capital markets sectors.
At First Asset Management Limited, the group’s asset management arm, Ebikabo Williams was appointed chairman. Williams, a former vice president at Citibank Nigeria and current board member at Bancorp Finance, brings experience spanning banking, capital markets and consulting. She will serve alongside Usman Dantata Jr., group managing director of Dantata Holdings Limited; Binta Max Gbinije of Custodian Investment; and Alero Mobola Adollo. The appointments are timed to capitalise on rising demand from pension funds and high-net-worth investors.
FirstCap Limited, the group’s investment banking subsidiary, also saw leadership changes. Yewande Amusan, a former Ogun State commissioner for culture and tourism, was confirmed as chairman, having held the role since December 2024. New board members include Ahmed Indimi, Irene Akpofure, Adenike Kuti and Zeal Akaraiwe.
In stockbroking, First Securities Brokers Limited named John Akpeki as chairman. Akpeki, who has experience in global marketing and business development, joins Omolara Adeyemi, Susan Younis and Kemi Andu-Alausa on the board.
First Trustees Limited, which manages trusts and estates for corporate and institutional clients, appointed John Lee as chairman. Lee brings more than 40 years of experience in global financial services, particularly in corporate banking, institutional finance and wealth management across African markets. He will work alongside Abiola Alabi, Adebisi Sola-Adeyemi and Ugochukwu Obi-Chukwu.
First Insurance Brokers Limited, which celebrated its 25th anniversary last year, also refreshed its board. Akinola Phillips was named chairman, with Ije Onejeme, Folukemi Akinmeji and Mojisola Cardozo joining as directors. These appointments were formalised in July 2025.
Commenting on the reshuffle, Femi Otedola, chairman of First HoldCo Plc, said the new boards would support the group’s next phase of growth and strengthen oversight across its non-banking subsidiaries.
First HoldCo, previously known as FBN Holdings, operates across banking, investment management, capital markets, trusteeship and insurance, reflecting its strategy to diversify beyond traditional commercial banking into broader financial services.
