UBA group modifies organisational structure to become leading financial organisation in Africa by 2010. (1)
May 13th, 2008 Ugonna Maduagufor © www.StockMarketNigeria.com
(by Ugonna Maduagufor)
The board of directors of the company in the company’s website as at today displayed in a press release the restructuring of the international group, into a six strategic units plus three strategic support (funcional) group in order to take the company into yet another phase of its strategic growth and global expansion. This development was a product of a three years strategic revalidation exercise conducted by McKinsey, a global management consulting firm. The new operating structure for the mega firm saw the appointment of two Deputy Managing Directors, three new Executive Diectors and a realignment of existing Senior Management’s portfolios (responsibilities). The company now has a structure of Six Strategic Business Groups and Three Strategic Support Groups all reporting to the Group Managing Director(GMD)/Chief Executive Officer (CEO).
The Strategic Business Groups includes the banks operations in Nigeria being divided into two clusters- (i) UBA Plc Nigeria-South and (ii) UBA Plc Nigeria-North, being for a more effective penetration of the entire country each of the clusters being led by a Deputy Managing Director. Other Strategic Business Groups, all having same reponsibility of making for customer interface and business development also includes: (iii) UBA Capital, which has nine subsidiaries in diferent sub-sectors of nigerian capital market; (iv) UBA International, being for global expansion of the group; (v) UBA Retail Financial Services, targeting non-bank customers with various products; and (vi) UBA Global Products and Segments Banking.
The Strategic Business Functional Groups with the duty of handling the shared operations of the group, enabling for an optimal standardidation and operational efficiency across the groups operations, includes: (i) The Groups Operations Office, (ii) Groups Chief Finance Office, and (iii) Groups Chief Risk Office.
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