FBN Capital Limited, the investment banking subsidiary of Nigeria’s FBN Holdings, was established in 2006. A period of group restructuring took place in 2009 – brought on by various changes in central bank regulation. These changes laid the foundations for the new FBN Capital, which today is a full-service investment bank and asset manager.
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| When I think of all the new blood we have hired, most of them jumped at the opportunity to join us Kayode Akinkugbe |
FBN is etching a path to become a leader in the Nigerian and sub-Saharan African investment banking landscape, says Kayode Akinkugbe, the investment bank’s managing director and CEO.
“Since 2009 we have undergone major changes at FBN Capital, through the entire fabric of the business. Not only have we developed and integrated additional investment banking services, but we have also brought in new talent. Up to 50% of FBN Capital’s employees have come in over the last three years. This is part of the holding company’s vision – bring in new blood for a new direction,” says Akinkugbe.
Some home-grown banks with successful track records, especially in the more developed economies of South Africa, Nigeria and Kenya, have big ambitions on the continent and are starting to build investment banking franchises on the back of strong retail and corporate banking relationships.
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