Society Gists

If Yemi Adeola wanted to prolong as the MD/CEO of Sterling Bank, he had no shortage of sit-tight leaders in the political arena and world of business to emulate.

But unlike those fatuous Emperors for life who have turned whole countries and organizations into their personal kingdoms, Yemi knows that maintaining the status quo for too long will lead to stagnation.

After 14 years of service as a founding director and 10 years as substantive chief executive officer of Sterling Bank, Yemi felt the time was right to move on to other adventures.

But unlike the situation with some other banks where the replacement of a CEO led to civil war among senior management, the process with Sterling Bank was smooth and gradual.

The net was cast wide in search of suitable candidates to replace the indefatigable Adeola, at the end of which Abubakar Suleiman emerged as the chosen one.

Rather than thrust him abruptly into the financial sector pond where he would be at risk of being eaten by sharks, Suleiman was gradually groomed into the role.

Yemi, no doubt, has made so much money for himself as the bank MD. While too many of his peers, gained from their wealth only the fear of losing it, Yemi gained from his wealth, comfort, contentment and a deep sense of purpose.

He understood quite early in life, that there are no little ways to imbue his life with grandeur. He understood that money matters in the mix, in his pursuit of ease and luxury. More importantly, he regarded money as the only sunbeams that lights his path to grandeur. Nothing is black where it shines. That is why his life is radiant with light.
He has worked very hard and saved very hard, his hard-earned money. Today, he is reaping the fruit of his labour.

He was instrumental to the formation of Sterling Bank in 2006, and served as the integration director in the immediate post-merger phase and up until 2007 as executive director covering Commercial & Institutional Banking and later Corporate Banking prior to becoming the CEO.

Born Razack Adeyemi Adeola in January 30, 1959 won the 2014 Business Day Outstanding CEO Award and the 2015, The Sun Banker of the Year. Adeola’s tertiary education was at Obafemi Awolowo University where he graduated with a law degree in 1982. In 1983, he was called to the Nigerian Bar. He later went to the University of Lagos where he enrolled as a postgraduate student for a Law degree and specialized in the Law of Secured Credit, Comparative Company Law and International Economic Law.

Mr. Adeyemi Razack Adeola has served as Managing Director/Chief Executive Officer, Executive Director of Sterling Bank PLC since December 2007. He has over 25 years of experience spanning banking and finance, law, corporate consulting and academia.

Mr Adeola commenced his banking career with Citibank in 1988 serving as Chief Legal Counsel & Company Secretary; later as Executive 1Director, Public Sector & Infrastructure Banking; and subsequently the Commercial Banking Segment. He left Citibank in 2003 to pursue the turnaround project of Trust Bank of Africa Limited (TBA), serving as the Deputy Managing Director between 2003 and 2005.

Upon the consolidation of TBA into Sterling Bank in December 2005, Mr Adeola assumed the role of Executive Director, Corporate and Commercial Banking and remained in that capacity until December 2007 when he was appointed as Managing Director/Chief Executive Officer of the Bank till 2018.

Mr Adeola is a fellow of the Chartered Institute of Bankers of Nigeria and has undertaken senior management/ executive education programs covering various business areas, He is an alumnus of Harvard Business School, Stanford Business School, Said Business School of the University of Oxford, and The Wharton School of the University of Pennsylvania. He is a John F. Kennedy Scholar.

Adeola is Member of the Board Credit Committee, Member of the Board Finance and General Purpose Committee, Member of the Board Governance and Nominations Committee, and Member of the Board Risk Management Committee of the Company.