With Drive for Retail Banking, Dozie Steps in as Diamond Bank’s CEO

 Mr. Uzoma Dozie, Group Managing Director/Chief Executive Officer of Diamond Bank

The Board of Directors of Diamond Bank Plc has announced the appointment of Mr. Uzoma Dozie as the new Group Managing Director/Chief Executive Officer of the bank.

With his appointment, Dozie is expected to give the bank’s drive to increase its market share in the retail banking segment a significant boost.

Diamond Bank had in the past two years increased its focus on the retail segment of the market and its market share in the retail banking space has remained on the increase.

Dozie succeeds Dr. Alex Otti who voluntarily resigned as the GMD/CEO of the financial institution on Friday.

Otti wants to pursue his ambition of becoming the governor of Abia State in next year’s election.

Until the appointment, Dozie was the Deputy Managing Director in charge of retail banking at Diamond Bank. He has deep knowledge of retail banking having served as an Executive Director in charge of Retail Banking at Diamond Bank for several years.

Dozie, who started banking at GTB, has close to 20 years’ experience in banking; he had served previously as Executive Director, Personnel Banking at Diamond Bank.

He joined Diamond Bank in 1998 as an Assistant Manager and Head of Diamond Bank’s Oil and Gas Unit. He also served as Financial Controller of Diamond Bank, from June 2001 to April 2004.

Speaking in a recent interview with THISDAY, Dozie had said: “Our retail banking strategy at Diamond Bank is to bring more people into the banking system and to provide services that will enable them carry out their financial activities.

“So, to be successful in retail banking and to make customers to be able to change their traditional method of banking, it must be convenient for them; it must be accessible and cost effective.

“For Diamond Bank, our retail strategy is based on our location. So, we segmented our market into the under-banked and unbanked, the mass market, the mass affluent and the high net worth individuals.”

Commenting on the appointment of Dozie in a chat with THISDAY, the Coordinator, Independent Shareholders Association of Nigeria (ISAN), Mr. Sunny Nwosu welcomed the development.

Nwosu said: “He has been going through grooming over the years, even when his father was there and so I think by now, he has the requisite knowledge to run the bank. Again, he is not alone. No bank managing director runs a bank alone because they have advisers, executive management team and others to work with.

“He should not allow ego and power to influence his decisions. Above all, he should always remember that Diamond Bank does not belong to them alone. Diamond Bank has thousands of shareholders and so he should always consider shareholders in taking decisions.”

Meanwhile, the Chairman of the Board of Directors, Diamond Bank, Igwe Nnaemeka Alfred Achebe, in a statement yesterday, said Otti would be sorely missed.

Achebe described the outgoing CEO’s tenure as “the brightest years of Diamond Bank’s 24 year-history.”

“Dr Alex Otti is a fine gentleman with an outstanding career in the Nigerian Banking industry. We are pleased with the time he spent at the helms of affairs of Diamond Bank Plc and wish him every success in his future endeavours,” Achebe added.

Under Dr. Alex Otti’s stewardship, Diamond Bank made a remarkable return to profitability and has continued to record impressive growth across all performance indicators year-on-year. After writing off toxic risk assets which resulted in the loss of N16 billion in 2011, the bank posted a profit before tax of N28.36 billion in 2012 and N32.5 billion in 2013.

He is credited with creating the office of the Chief Risk Officer and designating an Executive Director to head the department. He also spear-headed the expansion of the bank by doubling the full staff members’ count from around 2,000 in 2010 to over 4,000 as at mid-2014, even as he vigorously grew the bank’s footprints from a network of 210 branches in 2011 to over 265 branches three years later.

On Dozie’s appointment, the chairman said it was in recognition of his extensive managerial capabilities and wealth of banking knowledge. He also added that it was in consonance with the bank’s succession strategy.

Dozie holds a Bachelor of Science degree in Chemistry from the University of Reading, Berkshire. He also holds a Master of Science degree in Chemical Research from the University College, London and a Master’s degree in Business Administration from the Imperial College Management School of London 1998.

However, Dozie’s appointment is subject to the approval of the Central Bank of Nigeria (CBN).

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