Charles Kie, managing director of Ecobank Nigeria, a subsidiary of Ecobank Transnational Incorporated, has resigned.

In a statement sent to the Nigerian Stock Exchange on Monday, the company said his successor will be announced before the end of August.

“The successful candidate will be announced before the end of August. Mr Kie will continue to manage Ecobank Nigeria through the transition period to ensure a smooth handover to his successor,” it said.

Kie was the former group executive, corporate and investment bank for ETI.

He joined the group in October 2011 as the chief operating officer of the then Ecobank Capital and was subsequently appointed the head of the group’s corporate banking business.

Commenting on his exit, Kie said: “I am proud of what the team and I have achieved together, and I thank them for the good work and their unwavering commitment to Ecobank. I also extend my sincere appreciation to the board. Despite some of the market challenges that we faced over the years, our customers have always been loyal, and it is their patronage that makes the future brighter.”

Ade Ayeyemi, Ecobank Group chief executive officer, said: “As Charles prepares to leave the Ecobank Group, I would like to thank him for his immense contributions to the group. He has certainly laid a strong foundation at Ecobank Nigeria and we wish him well in his future endeavours.”