Access Bank Takes Over Intercontinental. New MD Appointed

Oct 17, 2011 – Access Bank Takes Over Intercontinental. New MD Appointed

Access Bank PLC has appointed a new Managing Director for Intercontinental Bank after it took effective control of the bank last Friday.

The new helmsman at Intercontinental Bank is Access Bank’s General Manager in charge of Merger and Acquisition, Mr. Victor Etukwu.

The new MD takes charge of the bank effective Friday. The former Board was replaced with a new board with Mr. Aigboje Aig-Imokhude as Chairman.

A send-off was organised for the former board and CBN-appointed management last Friday.
Access Bank will run Intercontinental for which it has 75 per cent holdings as a subsidiary for 12 months before the final Integration of Intercontinental into Access Bank.

In an interractive session with newsmen, weekend, Group Managing Director of Access Bank and Chairman, Board of Directors, Intercontinental Bank, Mr. Aig-Imokhuede, said the full integration of Intercontinental into Access Bank will be 12 months. All the subsidiary of Intercontinental will now become those of Access Bank.

He said although a school of thought feel that to aid change, the management should move quickly to achieve one brand out of the two brands but that Access Bank was looking at the available options that will deliver better service to Nigerians.

He said what is important now is how to tap into the experience and expectation of Intercontinental Bank customers and those of Access Bank to transform the new bank into a world class service delivery Bank as Access Bank’s customers are also asking whether the brand that has performed creditably is going to change.

He said the decision the bank will eventually take will be that which will improve customer experience. He allayed the fear that Access Bank’s taking over of Intercontinental will result in loss of jobs, stating that the bank needs competent staff to drive it.