Ecobank Transnational announces change in Board of Directors

People wait in line on February 16, 2011 in front of a branch of the pan-African bank Ecobank in Abidjan. The Ivorian offices of two international banks, French BNP Paribas and US Citibank, were closed of February 14 after the west African regional bank BCEAO warned banks they risked sanctions if they dealt with Laurent Gbagbo's disputed regime. Gbagbo threatened on February 15 to take legal action against foreign banks Citibank and BNP Paribas after they closed their offices in the country. AFP PHOTO / SIA KAMBOU (Photo credit should read SIA KAMBOU/AFP/Getty Images)

Ecobank Transnational Incorporated, ETI, has announced changes on its board of directors as Dr. Adesegun Akin-Olugbade and Mr. Ignace Cloegah resigned from the management board to enable them focus on other personal responsibilities.

The board, management and staff of ETI expressed their gratitude to them for their significant contributions to the Ecobank Group and their renewed commitment to continue to assist and support the Group as and when necessary.

Meantime, the board has engaged Mr. Monish Dutt, a seasoned investment professional who is a consultant on Emerging Markets.

He is a Director of Sagicor Financial Corporation, a pan-Caribbean insurance group with assets of $6 billion.

He is also on the Board of Sagicor Life Insurance Corporation, the Group’s operations in the US based in Florida.

Mr. Monish Dutt is a nominee of International Finance Corporation and replaces Mr. Kadita Tshibaka who has left the Board having reached the retirement age of seventy.

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