Following to our article « Ecobank is seeking it’s Corporate and Invesment Banking division chief » (see it in french here: http://www.financialafrik.com/2013/07/12/ecobank-cherche-le-patron-de-son-pole-corporate-et-investissement/), we receive a reaction from the London office of the panafrican bank.
« Far from ‘failing to live up to expectations’, Ecobank’s Corporate and Investment Banking division has been making steady progress, registering a 44% year-on-year increase in its pre-tax profits in 2012. Investment Banking had another very successful year, raising more than US$2.2bn equivalent on behalf of its governmental and corporate clients in 11
Our intention now is to appoint a senior investment banking executive, withpan-African deal origination, syndication and M&A experience, to build on this success, leveraging the huge potential of our Middle African platform. Given the synergies between our corporate and investment banking client bases, the new appointee will report directly to and work closely with the Group Deputy CEO and Executive Director of Corporate and Investment Banking, Albert Essien (photo), to drive both businesses forward and maximise cross-selling opportunities.’