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33 years later, Atedo Peterside reflects on early days of Stanbic IBTC

33 years later, Atedo Peterside reflects on early days of Stanbic IBTC
February 02
14:42 2022

Atedo Peterside, the founder of Stanbic IBTC Bank Plc, has celebrated the founding staff of the financial service company.  

Peterside, on Wednesday, took to his official Twitter handle to express gratitude to God for the lives of those who contributed their quota to developing the bank in its formative years. 

“Exactly 33 years ago, IBTC now Stanbic IBTC was founded when I was 33 years old,” Peterside said. 

“That was on 02 February 1989. Today, 33 years later, I thank God for the lives of all those who played a part in building this great institution and in making it possible for me to look back 33 years.”

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TheCable had chronicled how the boardroom giant returned to Nigeria in the late 1980s to set up Investment Banking and Trust Company (IBTC) at a small office in Marina, Lagos.

The investment bank grew into a giant in the industry.

By 2003, he listed the same on the Nigerian Stock Exchange. In 2004, IBTC merged with Chartered Bank in what became IBTC Chartered Bank, following a recapitalisation of Nigerian banks under Charles Soludo, governor of CBN at the time.

He was CEO from 1989 to 2007. And in his usual style, he sent a mail to all members of staff announcing his resignation as the leader of the executive team, after a successful merger and acquisition process with Standard Bank of South Africa.

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Peterside still holds the position of non-executive director on the boards of Standard Bank Group Ltd and The Standard Bank Of South Africa Ltd. 

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