Remi : A strategist At the Center
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Remi Babalola was an Executive Director of First Bank of Nigeria Plc in charge
of Lagos and West business as well as consumer Banking and electronic payments until
his appointment as Honourable Minister of State for Finance on July 26, 2007.
He has both brain-on and hands-on experience in organisational renewal, value creation
and leadership effectiveness.
Remi Babalola was a Deputy General Manager (DGM) and Divisional Head of Corporate
Planning & Group Coordination of the Bank before his appointment to the Board.
The overarching focus of his job is involvement in turning First Bank into the "Clear
Leader" of the Nigerian Financial Landscape.
Remi was a General Manager with Zenith Bank Limited before he was headhunted by
FirstBank. He had a meritorious rise through the ranks from a Deputy Manager to
a General Manager, spanning over a decade of cognate banking experience. His background
and experience includes development and implementation of new initiatives to upgrade
customer service quality, management of a high quality risk assets portfolio, management
of a fast growing deposit base, proactive formulation of strategies to generating
superior profitability and direction of asset liability management.
Remi has in-depth knowledge and proven achievement in financial and credit analyses,
trade financing, contemporary investment banking, funds management, international
and local banking operations. He is known in the industry for value management in
generating consistent superior returns with sustained earnings growth. He was formerly
the Financial Controller and Chief Strategist of Zenith Bank, responsible for Bankwide
planning and budgetary process, Domestic Treasury and FX management support, establishment
and coordination of the profit centre concept. Remi pioneered some Profit Centres
of the Bank.
His other previous job experiences include a four-year stay with Arthur Andersen.
While there, he was responsible for auditing, consulting, training and development
assignments in the Banking and Finance Group. He also had a stint with Price Waterhouse
for 1½ years.
Remi had participated in various workshops, courses, seminars and programmes amongst
these are; Citibank Senior Management Course (1993) in Kenya, Competitive Strategy
Programme at INSEAD, Fontainebleau, France (2003) and Leading Change & Organisational
Renewal at Stanford Graduate School of Business, USA (2003). Implementing Strategy
at Wharton Business School (Sept 2004), Developing Strategy for Value Creation at
London Business School (Oct 2004), as well as Mergers & Acquisitions at Wharton
Business School (Jan 2005) and Making Corporate Boards more effective at Harvard
Business School (March 2007). He is an alumnus of the prestigious Lagos Business
School. He is a member of the Commonwealth Business Council, the World Economic
Forum and the IMF/World Bank Programme of Seminars. He is a Director of First
Remi's personality traits include broad vision combined with a proactive, resilient
approach and diplomacy in handling sensitive issues. He is of impeccable character,
excellent carriage, wide social and business network, assertive leadership and maturity.
He is known for demonstrated entrepreneurial spirit, exemplary customer focus with
genuine commitment to diversity and social responsibility.
Remi, who hails from Ibadan, Oyo State, is blessed with a lovely wife and wonderful