May 20, 2024

 

Governor Ademola Adeleke has approved the appointment of Dr Wale Bolorunduro as chairman of Living Trust Mortgage Bank Plc.

According to a statement by Olawale Rasheed, spokesperson to the governor, the letter of appointment, dated 8th April 2024 and signed by the Secretary to the State Government, Hon Teslim Igbalaye reads as follows:

“I present to you the very warm compliments of the government and people of Osun State. I am pleased to inform you that the executive governor of Osun State, His Excellency, Senator Dr. Ademola Jackson Nurudeen Adeleke has graciously approved your appointment as a director and chairman designate on the board of Living Trust Mortgage Bank Plc.

“It is believed that you will employ your wealth of experience as an experienced banker and finance consultant to steer the bank in its next growth stage.

“The current economic climate of the country and recent development in the banking sector would pose challenges to banks, hence the state government’s decision to be proactive in ensuring someone with your wealth of banking and finance experience leads the bank. Wishing you well in your onerous assignment”, the letter reads.

In a separate letter addressed to the bank’s Company Secretary, the appointment was to take effect from Friday, 19th April 2024.

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Dr. Wale Bolorunduro is a banking and finance consultant with over 35 years industry experience in the Financial Service Sector.

He obtained a PhD from the University of British Columbia. He served as commissioner for finance in the state and later as the bank’s chairman, until 2016. He led the team to raise the capital that saved the mortgage bank from losing its license.

Living Trust Mortgage Bank is owned by Osun State Government, Corporate and private individuals. The bank is quoted on the NgX with its shares trading at N3.27 on the last trading day.

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