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Patrick Akinwuntan: Successful Career Journey Of The CEO/MD Of Ecobank

Patrick Akinwuntan

Patrick Akinwuntan is currently the Managing Director and Regional Executive of Ecobank Nigeria Limited. Also, he is the Regional Executive Director of Ecobank Transnational Incorporated, the Chairman of Accion Microfinance Bank Ltd and Chairman Advisory board of the Retail Banking Councils for Africa.

See Also: Sanusi Lamido Sanusi: biography and net worth of the 14th Emir of Kano

Patrick Akinwuntan Background And Education

Start Your Business in 30 Days Even If You Don't Have An Idea
Start Your Business in 30 Days Even If You Don’t Have An Idea

Patrick Akinwuntan was born in 1961 to Mr and Mrs Akinwuntan. After his primary, secondary, and tertiary education, he obtained an MBA from Obafemi Awolowo University (OAU), Ile-Ife.

Later, Patrick Akinwuntan qualified as a chartered accountant in 1988, after completing his professional course from the Institute of Chartered Accountants of Nigeria (ICAN). Thus, Mr Patrick is currently an ICAN fellow. In the year 2000, he went for a Senior Executive Programme (SEP) at the Harvard Business School.

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Patrick Akinwuntan Career

In September 1987, Patrick Akinwuntan got a job with Ernst and Whinney, now Ernst and Young International. He worked as a supervisor in the financial department of Ernst and Young, till 1991, when he left the company to start a new job at Merchant Bank Plc, Lagos.

Mr Patrick commenced his career with the Credit and Marketing department of Merchant Bank. After a while, he was promoted and he became the Deputy Manager – Corporate Finance, of Merchant bank.

Mr Patrick left Merchant Bank in 1993, to commence a new role as the General Manager of Spring Fountain Management Consultants, Lagos. In 1996, he then moved to Ecobank. He started as the Head of Commercial Banking.

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Patrick Akinwuntan

Patrick Akinwuntan’s Career Journey At Ecobank

Mr Patrick served as the Head of Commercial Bank for 3years. Following that, in 1999, he became the Group Chief Finance Officer (CFO). As he advanced, he became the Executive Director of Retail Banking, Ecobank Nigeria, in 2001.

Mr Patrick served in this capacity till 2006, when he was appointed Group Executive Director of Operation, Technology of Transaction Banking, and Retail Banking. It was at this time that the bank moved from the ambition of being present in 13 countries to being operational in 30 countries.

To achieve scale and improve the efficiency of local distribution, Patrick led in putting a strategy that allowed the bank operate one platform across the group. Patrick was tasked with the responsibility of building a pan-African technology platform, building Pan-African switch and having one common domain; ecobank.com.

See Also: Adesola Kazeem Adeduntan – CEO/MD of First Bank of Nigeria

Mr Patrick kept climbing Ecobank’s organisational ladder non-stop. Next, in 2011, he became the Group Executive Director for domestic banking. As the Executive director, he had the responsibility of managing the bank’s consumer and commercial business.

He functioned in this capacity until 2015 when he became the Group Executive for Consumer Banking of Ecobank. As the bank’s group executive, he was responsible for the bank’s consumer banking business across its global network, which consists of 40 countries.

While he was the Group Executive, Ecobank won several global awards. As such, when it was time to appoint a new Managing Director to replace Mr Charles Kie, the bank’s former Managing Director, Patrick Akinwuntan, was the best fit for the job.

Go from idea to starting your business in 30 days
Go from idea to starting your business in 30 days

So, in July 2018, Patrick Akinwuntan was appointed the Managing Director and Regional Executive of Ecobank Nigeria.

See Also: Herbert Wigwe: biography, and philanthropy of the CEO of Access Bank.

Membership And Chairmanship Of Patrick Akinwuntan

  • Mr Patrick is the Chairman of Accion Microfinance Bank Limited.
  • The seasoned banker is the pioneer and Chairman of the Advisory Board of Retail Banking Councils in Africa.
  • He is one of the founding members of the Fintech Association of Nigeria.
  • The Ecobank guru once served on the sub-committees of Ethics, and SMIEES of the Bankers committee as an Ecobank representative. He first served from 2003 to 2005, then was re-appointed in 2018.
  • Patrick Akinwuntan is a member of Visa CEMEA Advisory Council.
  • He’s an associate member of the Chartered Institute of Taxation of Nigeria.
  • Patrick Akinwuntan represents Ecobank on the Board of Accion MFB.

See Also: Pascal Dozie – biography of the former chairman of Diamond Bank Plc.

Patrick Akinwuntan’s Awards And Recognitions

  • Ecobank has won the award for Innovation in Banking at the African Banker’s Awards, while Mr Patrick was the bank’s Group Executive Director, Domestic Bank – 2013
  • Best Retail Banker in Africa Award at the Asian Banker’s West Africa Awards – 2016
  • Ecobank was named Customer Relationship Management of the Year at the Asian Banker’s West Africa Awards, while Mr Patrick was the bank’s Group Executive, Consumer Bank – 2016
  • At the Asian Banker’s West Africa Awards, Ecobank was honoured with the award of the Retail Risk Management Initiative of the Year, at the time Patrick Akinwuntan was Ecobank’s Group Executive, Consumer Bank – 2016
  • Ecobank was named Best Business Model Execution in West Africa at the Asian Banker’s West Africa Awards, while Mr Patrick was the bank’s Group Executive, Consumer Bank – 2016
  • The Board of the Nigeria Entrepreneurs Award (NEA) named Ecobank Nigeria, as the Best Supporting Bank to Micro, Small and Medium Scale Enterprises (MSME) in Nigeria – 2018
  • At the Central Bank of Nigeria (CBN), Electronic Payment Incentive Scheme (EPIS), Efficiency Awards, Ecobank was honoured with the Electronic Data Rendition Compliance and Integrity Awards, under Patrick’s Administration as the bank’s Managing Director (M.D) – 2019

See Also: Adebayo Ogunlesi: the biography of the Chairman of Global Infrastructure Partners.

Patrick Akinwuntan’s Quotes

“A light does not lose by lighting others… We will not rest until we deliver on our vision of building a world-class Pan-African Bank contributing to the socio-economic development of Africa…”

“We must be bold in our dreams and have the courage to execute flawlessly to deliver Africa that we can be proud of.”

“Let’s bring financial services to all Nigerians and improve financial inclusion…”

“For us at Ecobank every day is for Africans… Stand up and shine…”

“Quality investment in the healthy family life of employees gives birth to a healthy workforce.”

“We are proud of the outstanding leadership, commitment, and excellence of women in building and promoting Ecobank, the Pan-African Bank.”

“It is not a problem engaging your competitor if you have something to learn from him/her. Drop your pride.”

“Draw the boundaries, communicate effectively and execute with precision.”

“Strategy not executed with speed is just wishful thinking.”

“If you want to cross a large ditch, you don’t jump halfway. Determine the end from the beginning.”

“When you want to attract talent, you need to be clear about your vision, the reason they should join you.”

“You have to believe in your dreams, even if it is not yet visible. All achievements were once dreams…”

See Also: Afolabi Adeola – biography and story of the co-founder of GTBank

Entrepreneurial Lesson From Patrick Akinwuntan

Remain Relevant In Your Industry

Patrick Akinwuntan remains relevant in the financial industry even after many years. This is because he takes self development seriously and looks for ways to constantly improve himself.

Being relevant is what has helped him climb the corporate ladder almost to the peak of the ladder. As an entrepreneur, you should study, gain new knowledge, and do things that would keep you relevant in your industry, so that you won’t be swept off by competition.

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