Union Bank of Nigeria Plc has notified the Nigerian Stock Exchange of the resignation of three of its directors and the appointment of four new directors.

According to the notice, whose contents were disclosed by the Exchange in its weekly report, the new directors are Ms. Arina Mcdonald, Mrs. Beatrice Hamza-Bassey, Mr. John Vitalo and Mr. Adekunle Sonola.

Their appointment is effective February 24, 2015, the bank said.

The appointment followed the resignation of Mr. Douglas Munatsi, Chief Dickie Ulu and Mr. Saidu Mohammed-Jallo from the bank’s Board of Directors, effective February 24, 2015.

The bank said Munatsi, who was a representative of ADC Enterprises (a member of the UGPL Consortium), resigned following the acquisition of ADC by Atlas Mara Limited. It added that Ulu and Mohammed-Jallo resigned after the Asset Management Company of Nigeria sold off its stake in the bank to Atlas Mara Limited.

The appointment of the new directors has been approved by the Central Bank of Nigeria, according to the bank.

McDonald is currently the Chief Financial Officer of Atlas Mara Limited, a new banking group co-founded by Bob Diamond and Ashish Thakkar, a premier financial services institution in sub-Saharan Africa.

According to the bank, Hamza-Bassey is presently the General Counsel and Chief Compliance Officer at Atlas Mara and has extensive experience in matters pertaining to corporate governance and financial institutions.

She is a member of the Nigerian Bar Association and the American Bar Association, among others, and serves on the anti-corruption and litigation committees of the International Bar Association.

Vitalo was from May 2009 to July 2014 the Chief Executive Officer, Middle East and North Africa of Barclays Plc, Dubai, United Arab Emirates where he provided in-region leadership, governance, oversight and mentorship to all aspects of Barclays’ business presence in the region, the statement said.

Sonola is an experienced professional with over 24 years’ experience in market leading local and international banks, according to the statement. He is currently the Managing Director, Guaranty Trust Bank, East Africa.

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Source : Punch