Coronation Merchant Bank Appoints Abiagam Acting MD/CEO
CHIGOZIE AMADI
Coronation Merchant Bank, an investment bank, has announced the appointment of Paul Abiagam as its Acting Managing Director/Chief Executive Officer.
The appointment which became effective immediately, is part of a succession framework designed to ensure the bank’s continued leadership and innovation in the African financial subsector.
Abiagam, who previously served as Deputy Managing Director of Coronation Merchant Bank, takes over the reins with a track record of spearheading strategic initiatives that have significantly enhanced the bank’s financial and operational performance.
A statement from the bank noted that his expertise spans corporate, commercial and consumer banking, with a notable focus on strategic business development and wealth management.
Commenting on the appointment, Chairman of Coronation Merchant Bank, Mr. Babatunde Folawiyo said, “Paul is a proven leader whose strategic acumen and extensive experience in the banking sector make him the ideal choice to steer Coronation Merchant Bank through its next phase of growth. His appointment as Acting Managing Director/CEO aligns with our phased leadership transition plan, which has been carefully executed with the cooperation of the erstwhile MD/CEO, Banjo Adegbohungbe.
“We have full confidence in Paul’s ability to drive our strategic goals and deliver exceptional value to our stakeholders.”
Over his professional career spanning more than two decades, Abiagam has earned a reputation for leading high-performing teams to achieve exceptional results. In his roles at renowned financial services companies, he has driven significant transformations through innovative strategies, aligning systems with corporate goals, and thereby unlocking exponential profitability and growth.
His leadership skills are complemented by his strong analytical capabilities in finance, risk management and operations, which have been instrumental in developing cutting-edge insights that propel sustainable profits. His forward-thinking approach to international trade finance and asset management has established him as a leader within the banking industry.
Prior to joining Coronation Merchant Bank in 2023, Abiagam served in several senior roles both locally and internationally. He was the pioneer Managing Director at Guaranty Trust Pension Managers Ltd., provided oversight as Non-Executive Director at Guaranty Trust Bank (Cote D’Ivoire) Ltd., and held various leadership positions at Guaranty Trust Bank Ltd., Nigeria including GM & Divisional Head, Corporate Banking Division (Lagos Island).
He is an alumnus of the University of Benin (B.Sc. in Botany), Paul Abiagam also holds an MBA Lagos Business School, and served as Sub-Chair of the institution’s Alumni Association Committee from 2018 to 2022. In 2011, he was honoured as a Senior Member of the Chartered Institute of Bankers of Nigeria. He is a Fellow of the American Institute of Certified Public Accountants, the Chartered Institute of Management Accountants in the United Kingdom, and a member of the Chartered Institute of Directors, Nigeria.
