Legacy Pension Managers Limited is now FCMB Pensions Limited
As part of the strategy to harmonize its global brand and identity, FCMB Group Plc has announced a change of name in the pension management arm of its business. Formerly known as Legacy Pension Managers Limited, the leading financial services holding company’s fund managers firm will now be known as FCMB Pensions Limited. In a statement released in Abuja, the Federal Capital Territory, the Group said, following the acquisition of majority shareholding in the company by FCMB Group Plc and the approval of the Board of Directors at its meeting of October 17, 2018, the change of name will positively enhance the company’s marketing and distribution activities.
Reacting to Media inquiries, the Managing Director of FCMB Pensions Limited, (formerly Legacy Pension), Mr. Misbahu Yola, notifying shareholders said, “what has happened is expected and an important alignment of our marketing message. There has been a comprehensive integration of the pensions business into FCMB Group, which is known for its culture of excellence, resilience and customer focus. It is another way of welcoming it to a group that has endured and enjoyed stability and sustainable growth in the last 41years”. FCMB Group Plc is a leading financial services group with businesses in commercial and retail banking, investment banking and wealth management, across seven subsidiaries that was founded in 1977 and became a public listed company in 2005. FCMB increased its stake in its pensions business between 2017 and 2018 from 28.3% to 91.6% currently. The acquisition is expected to engender sustainable and diversified low-risk growth momentum. The pension firm will also leverage on FCMB’s extensive distribution network, alternate channels, digital innovation, investment research, and rapidly expanding customer base.
Chairman of the Board of FCMB Pensions Limited and the Group Chief Executive of FCMB Group Plc, Mr. Ladi Balogun said, “the change of the company’s name will entrench a single brand identity across our pensions and retail banking businesses. Having distinguished ourselves in consumer finance over the years and gaining greater market share in retail payments solutions and savings accounts, a comprehensive suite of asset and wealth management propositions is a natural addition to our growing base of 5 million customers. The brand harmonization will enable us create greater marketing synergies and, along with other initiatives, accelerate the growth of our pensions business”.
FCMB Promotes Entrepreneurship Among the Youth, Urge Innovation
Leading financial services provider, First City Monument Bank (FCMB) has once again demonstrated its commitment towards the empowerment of youths in entrepreneurship by sponsoring a capacity building programme for almost 1,000 members of the National Youth Service Corps (NYSC) in Abuja on July 30th, 2018. Tagged ‘’Youth Entrepreneurship and Empowerment Programme’’, it was in partnership with Activate Success Foundation. The highly engaging, interactive and exciting session provided a platform for the youth corpers to look inward, develop and deploy their business skills through practical trainings facilitated by experts and successful business owners.
According to the Bank, the development will go a long way to empower them with the requisite resources to start and grow successful businesses during and after their service year in order to become financially independent and contribute significantly to national development. Commenting on the initiative, the Executive Director, Retail Banking of FCMB, Mr. Olu Akanmu, said it is in line with the commitment of the Bank to provide multiple opportunities that would inspire and enable youths to be actively engaged and eventually become successful business owners. According to him, ‘’FCMB Flexx account empowers Nigerian youths with the entrepreneurial and employability skills they need. Many youths set up their own businesses from their campuses. FCMB will be there with them to provide the necessary entrepreneurial and business skills they need to make great successes out of their businesses. FCMB will also provide great support for the youth businesses and work with them to nurture and grow the youth entrepreneurial ventures’’. Also speaking, the Founder of Activate Success Founder, Love Idoko, said, ‘’I have a penchant for motivating people. There are business-minded youths out there that are just looking for mentorship or business ideas as well as funds to start their businesses. The purpose is not just to give grants, it is to also empower and motivate as many youths as possible”.
Among the facilitators at the programme were a Member of the Lagos State House of Assembly, Hon. Desmond Elliot; Chief Executive Officer, Vodi Tailors, Mr. Seyi Adekunle and Executive Director, YIAGA Africa, Mr. Samson Itodo, of the #NotTooYoungToRun fame. At the end of the programme the sum of N2.7million was given as grant to some of the youth corpers with excellent business ideas to enable them start-up. FCMB has over the years developed various engagement programmes focused on empowering young Nigerians such as #FlexxYourCreativity, #FCMBFlexxtern and the Flexx Youth Entrepreneurship Masterclass. Through these initiatives, FCMB has given young entrepreneurs and students access to training, funding, mentorship, networking opportunities and jobs. The Bank’s Flexxzone (http://flexxzone.fcmb.com/) also provides useful resources to help young Nigerians build their business and career, while keeping up with latest trends in fashion, lifestyle and entertainment. The Bank’s youth product, Flexx, is one of its innovations to simplify and make banking services exciting. The Flexx proposition has continued to meet the overall financial and other socio-economic needs of young people from the age range of 16 to 30years. This is summarised in the description of Flexx as, “An app, a card, an account”. These features give account holders the freedom to bank on the go, using the Flexx Mobile App and also the Bank’s USSD code, *329#.
With a clear understanding of its market and environment, FCMB is well positioned to continue to create value by delivering exceptional services, while enhancing the growth and achievement of the personal and business aspirations of its customers.
FCMB Bank (UK) Limited Launches Personal and Business Banking Proposition to Deepen Inclusiveness
Lagos: July 31, 2018: FCMB Bank (UK) Limited, an independently incorporated subsidiary of First City Monument Bank Limited (which is a member of FCMB Group Plc), has introduced its Personal and Business banking proposition in London, United Kingdom and Lagos, Nigeria at an impressive ceremony attended by the top echelon of the business community within and from outside the country. The development follows the latest variation of permission obtained by the United Kingdom-based Bank to extend its services to include retail (investments) for individuals and business enterprises. This is in addition to the existing wholesale deposit taking activities, foreign exchange, treasury, corporate banking and trade finance offerings to corporate and institutional customers of FCMB Bank (UK) Limited. The variation of permission was granted by the Prudential Regulation Authority, the financial services regulatory body of the United Kingdom, and it became effective on June 8, 2018.
The Personal and Business banking proposition of FCMB Bank (UK) Limited is anchored on the Bank’s London Leverage and Africa Awareness. This will enable the financial institution deliver its promise of being the Corporate and Private Bank for African-oriented entrepreneurs, investors and professionals across all their banking needs. The Group Chief Executive of FCMB Group Plc, Mr. Ladi Balogun, explained at the ceremony that the launch of FCMB Bank (UK) Limited’s personal and business banking proposition is as much a statement of substance as it is one of intent. According to him, “our successful UK platform has proven to be of great importance to the Nigeria stockbroking and international trade finance activities of FCMB Group. Leveraging our deep networks in Africa’s biggest economy, the importance of a London presence to many of our Personal and Business banking customers, and technological innovation, we welcome this opportunity to meaningfully serve more of our customers and grow the value of our UK franchise”. Also speaking, the Chief Executive Officer of FCMB Bank (UK) Limited, Mr. James Benoit, said, “with the extension of its services, the Bank is now able to receive deposits from both customer segments as well as provide them bank loans to enable them meet their financing needs. The deposit products on offer include current, notice savings and fixed deposit accounts at competitive rates; while its lending products include Buy-to-Let Mortgage Loans enabling target customers to acquire a piece of London and purchase property to include in their investment portfolios.’’.
He added that the Bank will be expanding its premises and entering into partnerships with Fintech providers to open up service options to its clients and enhance their overall banking experience Dignitaries at the launch commended the Board and Management of FCMB Group Plc for going the extra mile in ensuring the institution has a very strong presence in the United Kingdom through FCMB Bank (UK) Limited, which will go a long way to boost individual and business transactions between Nigeria and the United Kingdom, thereby enhancing customer experience. Operating in the City of London, FCMB Bank (UK) Limited began its operations as a BIPRU €50k investment firm in September 2009 with CSL Stockbrokers (another subsidiary of FCMB Group Plc), providing the services of “receiving and transmitting” institutional client orders for Nigerian listed securities. Subsequent to the variation of its permission on September 27, 2013, the Bank commenced wholesale deposit taking activities across various segments.
Standard Chartered renew LFC partnership Partnership extended to run until end of 2022/23 season
Liverpool Football Club and Standard Chartered Bank are pleased to announce a four-year extension to their main sponsor agreement, taking the Bank’s partnership with the Club through to the end of the 2022/23 season. The Bank first signed up as the Club’s main sponsor in July 2010, and the agreement was extended in 2013 and again in 2015. Financial terms of the agreement remain confidential. Liverpool FC has a large number of fans across Standard Chartered’s core markets in Asia, Africa and the Middle East and the sponsorship provides the Bank with an opportunity to accelerate visibility of its brand, improving recognition across key markets around the world.
Additionally, over the last eight years Standard Chartered and Liverpool FC have used their partnership to support a number of the Bank’s sustainability and community investment programmes. The annual ‘Perfect Match’ game – where LFC players swap the Standard Chartered logo on their shirts for the Seeing is Believing logo – has raised more than USD480,000 to tackle avoidable blindness. Billy Hogan, Managing Director and Chief Commercial Officer, Liverpool Football Club said: “As a Club we’re very proud to have Standard Chartered renew their relationship for another four years. Our connection runs deep, it means more than just sponsorship, from the outset it has been about working together with the Club and our communities and supporters around the world. “Importantly, it also means we are able to support our ambitions on the pitch and compete with the best in the world. We have enjoyed many highlights of this relationship so far and I look forward to many more.”
Bill Winters, Group Chief Executive, Standard Chartered, said: “Liverpool FC is one of the world’s best-known football clubs and we are proud to be associated with them. It is a fantastic club that shares many of our values and is hugely popular across our global footprint. Our partnership has provided valuable support to the charitable initiatives close to our hearts and has helped us to further engage with our clients and staff as well as with LFC fans. We are excited to be able to continue this partnership, and look forward to building on our successful relationship.”
FCMB Biz Luncheon Ilorin
Four things to think about when writing a media release
A media release is one of the most successful ways to get media coverage for you or your business. It is a tried and true method and one of the most common ways to communicate with a journalist.
Journalists receive hundreds of media releases a day – most of them completely unrelated to their area of interest. So before you start to write a media release it is important to stop and think about what you want to achieve, what publication you want to be covered in and who your intended audience is.
It is essential to create a media release with the audience in mind, if the content is interesting to the audience; the journalist is more likely to publish it. Here are our four top tips to help you prepare before writing your next media release.
Is it newsworthy?
The main rule for your media release is that it needs to be newsworthy. A newsworthy story is current and of interest to the readers. It will also have a greater chance of being read by your target audience.
Make sure your release is not only relevant but also interesting and exciting. The launch of a new product, issues and trends in your industry, or sharing your success like an award, are good examples of newsworthy media releases.
Is it relevant?
Timing is everything in sending a media release. Make sure the information is relevant and current. Contacting the relevant media outlets is essential for obtaining the attention of journalists. Put yourself in your target audience’s shoes and think about your key message and whether or not they will be interested in reading it.
Take some time to think about who you are communicating your message to creating a media list of appropriate publications means you will more likely get the exposure you are looking for.
Make your media release headline catchy, interesting and strong. It should summarise key points and encourage further reading.
Journalists receive hundreds of emails a day so make sure they can quickly establish what the content will be just from reading your headline to increase the chances of it being read.
Does the lead paragraph provide a ‘hook’?
This is a key part of your media release. The lead into your story must be catchy and have something that grabs your reader’s attention, otherwise known as the hook. A strong angle includes the following elements that establish the story of your media release:
Who is involved,
What is happening,
When it is taking place,
Where is it taking place,
Most importantly, why it is taking place Make the paragraph succinct with active and professional language. Once you have established what is newsworthy and who your target audience is, write your media release with these four tips in mind. Make sure to check spelling and grammar and it’s a good idea to have a colleague read your media release before you send it.
- Published in Blog
FCMB Commits to Growth of Media Industry, as Expert Projects Positive Outlook for Nigerian Economy
Nigerian media industry by empowering its practitioners with the requisite tools and knowledge that promotes the values of professionalism and ethics in the discharge of their duties. This, according to the Bank, is as a result of the critical role the media plays in national development. FCMB gave the assurance at an interactive and capacity building forum it organized for media executives and correspondents based in Abuja and the Northern Region on February 9, 2018. The forum had a foremost financial and media expert who is also the Chief Executive Officer of RTC Advisory Services Limited and lecturer at the Lagos Business School, Mr. Opeyemi Agbaje, as guest speaker.
In his address at the event, the Group Head, Corporate Affairs of FCMB, Mr. Diran Olojo, explained that it is part of the Bank’s initiatives to further promote excellence, build capacity of media practitioners, spur ideas, deepen relationships and appreciate their contributions over the years to the success of the Bank since its establishment 34 years ago. According to him, ‘’at FCMB we recognize the strategic importance and role of the media not just in promoting our business, but in the areas of agenda setting, providing solutions and dissemination of quality and balanced communication that drives national unity and development in a sustainable manner. As an institution anchored on the culture of excellence and professionalism, we will continue to champion and execute initiatives that would assist the Nigerian media industry and journalists perform optimally as the fourth estate of the realm and key influencers. We therefore urge our media practitioners to reinvent themselves and expand the frontiers of their knowledge by adopting innovative skills that would help them meet the dynamics of the profession while upholding due diligence and ethics that conform with global best practices’’.
Mr. Olojo told the gathering that as an inclusive lender, FCMB will continue to offer and deliver cutting edge solutions that provide the best customer experience. He added that the Bank is resilient and focused on sustaining the momentum of its position as a top financial institution by supporting initiatives that would enhance the growth and achievement of the personal and business aspirations of its customers as well as the overall prosperity of Nigeria. In his paper titled, ‘’The Nigerian Economy and Financial Sector in 2018’’, the guest speaker at the media parley, Mr. Agbaje, observed that having overcome the recession in some critical areas, things were looking up for the nation’s economy going by the positive signals shown by several macroeconomic indicators, such as stable exchange rates, growing foreign reserves and inflation. The former Senior Banker however noted that, “there are a couple of areas of the economy – the non-oil economic sectors that require more passionate attention. They include the manufacturing, employment and the domestic food sectors. In addition, there are also a few fuel subsidy concerns. A lot of cleaning up is going on in the financial sector while portfolios and profitability are improving. From a number of indications, the economy should record incremental improvements in 2018, over 2017. However, the recovery is mainly powered by the oil sector. It is also imperative for our economic system to be skewed towards an investment-led growth strategy to facilitate sustainable development across all sectors’’.
Mr. Agbaje, a one-time Chairman of Convention on Business Integrity, also urged the media to brace up to the challenges of the profession by playing more active roles in not just reporting activities, but serving as a compass to society. He added that it is the responsibility of media practitioners to ensure diligence, ethics, fairness and professionalism in the discharge of their duties in order to promote peace, understanding and progress. Over the years, FCMB has organised series of initiatives to empower and build the capacity of the media industry. For instance, the Bank in 2016 hosted financial journalists to a parley under the theme ‘’Raising the Bar’’, which had the Chief Executive of Corporate Shepherds Limited, Mr. Idorenyen Enang, as guest speaker. In 2015, it organised a similar capacity building programme for journalists in the new media. Among the guest speakers was an international journalist, Mr. Inigo Gilimore, who spoke on the topic, ‘’Stimulating Responsible New Media Journalism: A Pathway to International Recognition’’.
In addition, FCMB in 2014 brought together media executives to a training programme on, “Sustainable Banking in Nigeria: The Role of the Media”. The session had theManaging Director of UK-based Sustainable Finance Advisory Limited, Carey Bohjanen, as guest speaker. First City Monument Bank (FCMB) is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments.
Standard Chartered celebrate Liverpool FC’s 125th anniversary through the power of numbers
To commemorate Liverpool Football Club’s 125th anniversary, Principal Club Sponsor Standard Chartered is today launching a season-long digital campaign which celebrates the power of numbers. The bank will take Liverpool FC fans on a journey to understand the meaning of significant numbers in LFC’s history. This will be told through a series of films as well as a unique 360° audio match-day experience. It will also feature interviews with Reds Manager Jürgen Klopp as well as LFC Legends, current First Team players and fans from around the globe.
Beginning with Number 8, ‘The Captains’, this video will look at the significance of captaincy and how leadership makes a lasting impact, with a specific focus on Steven Gerrard and the impact he had as LFC Captain. Karen Fawcett, CEO, Retail Banking and Group Head of Brand & Marketing at Standard Chartered, said, “Liverpool FC have had some phenomenal players and moments during their 125 year history that have contributed to them becoming one of the most successful English football clubs of all time. This special anniversary is a great opportunity for us to celebrate that success with them.
With the launch of our #8 video, we want to highlight the power of leadership, showcasing how one person can make a positive impact on the people around them, and then go on to achieve success together as a team.”
Billy Hogan, Chief Commercial Officer and Managing Director at Liverpool Football Club, added, “This is a fantastic campaign that uses some really great content. Standard Chartered have really created something our fans will love and won’t have seen before, and we thank the bank for helping us celebrate our 125th birthday in such an exciting and innovative way.”
- #8 The Captains video: https://www.youtube.com/watch?v=URpbQJ4W8bA
- 125 Numbers Campaign trailer: https://www.youtube.com/watch?v=PjwGyu0AtMY
- 125 Numbers Campaign website: sc.com/lfc125
Is Your Strategic Vision Visionary or Boring? By Jeffrey Baumgartner
Probably the most important sentence your company ever puts to paper is your strategic vision statement. It defines your organisation, your goals and the paths you take. A bold, visionary statement is the first step in establishing your firm as a bold, visionary leader. A mediocre statement keeps you on a path of mediocrity, trailing behind the visionary leaders. A lack of any vision leaves it to your customers and employees to assign a mediocre vision statement to your company. And they will.
Whether yours is a global organization or a one-woman business operating out of Poughkeepsie, your strategic vision statement should be but a few words, but those words are vitally important to where your company is going and how it is going to get there. Think about the leading company or two in any field and you probably have a good idea of their strategic visions. Think about Apple, Walmart, Facebook, Versace, Porsche, Victoria’s Secret.
In short, success for your business starts with a strategic vision statement and then flows through communication to your employees, customers, future customers, business partners, other stakeholders and your community.
A vision statement is essentially a moving goal that you aspire to chase after. The moving bit is important. You do not ever want actually to achieve the goal defined in your vision. If your vision is to sell 100 coffee mugs by next Wednesday, you’ll be lost come Thursday. On the other hand if your vision is to create unique, designer coffee mugs in limited batches of 100 which will only be sold for one week, you’ve got something that will keep you busy indefinitely.
Avoid Being Best Like the Plague
Amazingly, in view of the critical importance of a strategic vision statement, a large number of companies either have no defined vision or a vague, meaningless one. The worst thing you can do in crafting a strategic vision statement is to use the word “best” − it is almost certainly an indication of mediocrity and lack of vision. To understand why, the next time you are with a group of friends, ask everyone who makes the best pizza (or any popular food) in your city. The chances are you will get several different answers and a few disagreements. That’s because best is a meaningless word unless precisely defined − and even then it is dubious.
Or, look at it this way, you are visiting a new city and see three pizzerias. One claims to be the best pizzeria. The other makes no claim and the third claims to be a family owned restaurant specialising in novel pizzas made with fresh locally sourced ingredients. Which is likely to get your business?
No company ever became the market leader by being the same as everyone else in the field. Think about it. In order to have a field in which everyone is the same, there had to have been a visionary who defined normal behaviour in that field.
Your strategic vision statement should be unique. It should carve out your niche in the market place and allow you to own that niche. That can be scary. For most organisations, like people, it feels safer to follow the leader than to go off in your own direction. But you will know you have succeeded when you look back and find other companies following your lead.
- Published in Blog
FCMB Restates Commitment to Tourism, Felicitates with Ijebuland on Ojude Oba Festival
First City Monument Bank (FCMB) Limited has reiterated its commitment to support activities that promote and add value to Nigeria’s culture and heritage which are alsocapable of boosting tourism and other non-oil sectorsin line with the Federal government’s ongoing drive to diversify the country’s economy. According to the Bank, this is the rationale behind its decade long support for the annual Ojude Oba Festival, a carnival-like celebration of the traditional, cultural, spiritual, economic and other accomplishments of the people of Ijebuland in Ogun state. Consequently, FCMB has assured its stakeholders that its participation in this year’s Festival, which holds in Ijebu-Ode on September 3, 2017 will be grand, exciting and rewarding for the thousands of people within and outside the country that would grace the fiesta. The Group Head, Corporate Affairs of FCMB, Mr. Diran Olojo, gave the assurance at a press conference held on August 22, 2017 at Ijebu Ode, to kick-off activities for the Festival. FCMB has over the years been a major sponsor of the Ojude Oba Festival and has continued to play a significant role in ensuring its success.
The Ojude Oba (which in Ijebu dialect means, the king’s fore-court or frontage) is a major festival in Nigeria that began over 100 years ago. It brings together all sons and daughters of Ijebuland in Nigeria and diaspora. During the Festival, various age groups (popularly known as the Regberegbes), indigenes, their friends and associates from far and near – all in their colourful costumes and riding on horses – throng the palace of the Awujale and Paramount Ruler of Ijebuland to pay homage to him amidst prayers, songs, tributes and other fun-filled activities. Apart from serving as a distinctive platform to reconnect with the values that sustain the town’s rich history, heritage and industrious uniqueness, the festival also goes a long way to boost business activities, tourism and the general hospitality sector in the area.
In a goodwill message to the Awujale of Ijebuland, Oba (Dr.) Sikiru Adetona, the Group Chief Executive of FCMB Group Plc, Mr. Ladi Balogun, congratulated the monarch, sons and daughters of Ijebuland for promoting the values of the ancient city through the festival and other socio-economic activities. He stated that FCMB is committed to the longevity of the Ojude Oba Festival and the economic prosperity of Ijebuland, just as he urged the people to see the Festival as a fulcrum to inspire individuals and businesses for heightened creativity and increased productivity. According to him, ‘’over the years, the Ojude Oba Festival has grown to become the most popular gathering of the people of Ijebuland and a significant tourist attraction. With her large diaspora population, talented artists and rich cultural diversity, Nigeria is well positioned to reap the opportunities that globalisation presents to showcase her artistry and festivals, whilst bringing increased economic activity to communities that host such, such as Ijebu Ode. As we seek to diversify our economy, tourism and culture represent a low hanging fruit that must not go untapped’’.
In the same vein, the Founder of FCMB Group who is also the the Olori Omo-Oba Akile Ijebu, Otunba (Dr.) Michael Olasubomi Balogun, CON, in a goodwill message to the paramount ruler of Ijebuland expressed his gratitude to the Awujale, especially the paramount ruler’s selflessness in attending to the different requests and yearnings of the people of Ijebuland. In a message delivered on his behalf by Mr. Diran Olojo, the Bank’s Head of Corporate Affairs, Otunba Balogun commended Oba Adetona for his distinguished and exemplary leadership over the years. ‘’I for one continue to be proud as your Olori Omo-Oba to lead the way in showing our appreciation by being very close to you and showing unflinching loyalty. Let me thank you and the good Lord, our Maker that you have been unrelenting in showing that you appreciate my regular homage and tribute to you. I can say without fear of anybody gainsaying it that from year to year, on a daily basis, the appreciation of all Ijebus for the way you extend yourself to their different requests and yearnings, is such that the annual paying of homage, is not just the only occasion we would want to be showing our appreciation because you continuously earn our affection and our adulation’’, Otunba Balogun emphasised. while congratulating the entire indigenes of Ijebuland, the FCMB Founder also prayed that the monarch’s reign would continue to bring joy and prosperity in abundance to the entire Ijebu race, at home and in the diaspora.
First City Monument Bank (FCMB) is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments. Having successfully transformed to a retail and commercial banking-led group, FCMB expects to continue to distinguish itself by delivering exceptional services, while enhancing the growth and achievement of the personal and business aspirations of its customers.