On Monday, Standard Bank Group Limited announced that Atedo Peterside, founder and chairman of Stanbic IBTC Holdings Plc, will retire as a non-executive director after 35 years with the financial institution.
Peterside will be leaving along with another director, Dr. Xueqing Guan, whose tenure has come to an end.
According to the official notice posted on X, formerly Twitter, Peterside’s departure will occur following the Annual General Meetings (AGMs) of Standard Bank Group and The Standard Bank of South Africa Limited (SBSA).
A filing to this effect has been made with the Johannesburg Stock Exchange (JSE) since April 18, 2024, in compliance with the JSE Listings Requirements. Directors are required to retire by rotation at the AGMs. Both gentlemen have also formally notified the company that they will not seek re-election.
Standard Bank Group expressed appreciation for the leadership and contributions of both men.
Stanbic IBTC Holdings – a leading financial institution in Nigeria, is a member of the Standard Bank Group based in South Africa.
The boards of Standard Bank Group and SBSA extended their best wishes to both directors in their future endeavors.
Atedo Peterside, Commander of the Order of the Niger, was born in 1955. He is also the founder of Anap Business Jets Limited and Atedo N. A. Peterside Foundation (Anap Foundation). He studied at The City University, London, the London School of Economics and Political Science, and Harvard Business School.
He founded the Investment Banking & Trust Company Limited (IBTC) in February 1989 at age 33 which later metamorphosized into the conglomerate Stanbic IBTC Bank through acquisitions and mergers.
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