Mallam Bello Maccido

Mallam Bello Maccido, a Prince of the Sokoto Caliphate is a brilliant and accomplished investment banker with over three decades of experience at the top echelon of the profession in Nigeria. Appointed in 2015 as the pioneer Chairman of the FBNQuest Merchant Bank Limited—a subsidiary investment and asset management arm of the FBN Holdings Plc—he has helped to define the industry’s landscape in significant ways. A good part of his career has been devoted to the development and growth of the First Bank Group, and lately to the FBN Merchant Bank Limited. In just over four years of his tenure, the bank experienced changes of revolutionary proportions in terms of earnings, quality of leadership, and the mapping and implementation of strategies.

Under his leadership, businesses were diversified and a synergy between the FBNQuest Asset Management and FBNQuest Securities was actualized. This initiative marked a significant achievement in the bank’s history, contributing to the expansion of asset for the group from N37.2 billion in 2016 to N140.701 billion in early 2018.

With an academic background in Law, Mallam Bello Maccido started his banking career at Ecobank Nigeria Plc, as an officer. Through hard work and diligence, he earned himself the position of manager when in 1992 he moved to the New Africa Merchant Bank Limited. Four years later, he was appointed Senior Manager and Group Head of Corporate Finance at FSB International Bank.

By 2004, Mallam Bello Maccido had risen steadily through the ranks to become Acting Managing Director at FSB International Bank. However, he soon took a break from banking to establish Legacy Pension Managers Limited, a pension administration company where he was pioneer Chief Executive Officer. He built the company that later became FCMB Pension from scratch to outstanding profitability, with assets estimated at over N75 billion and over 182,000 registered Retired Savings Accounts (RSA) holders.

Having sufficiently weaned the company by breaking even within the first three years, and taking it through another two consecutive years of profitability, he returned to the banking industry in 2011 as an Executive Director at First Bank of Nigeria Plc. In his new role, he directed and oversaw all retail banking services in the north to meet the growing daily demands of customers. So impressive was his performance that within two years in this position, he was charged with the task of restructuring First Bank of Nigeria Plc into a financial holding company. He subsequently assumed the role of the pioneer Group Managing Director/Chief Executive Officer of the new FBN Holdings Plc.

Mallam Bello Maccido embarked on a re-branding process of the bank that lasted three years, effecting a systemic change that completely overhauled the old order. He organized and coordinated the development of a new framework that currently defines the modus operandi of all the Group’s subsidiaries. He remained in the saddle until 2015 when he assumed his current role at the FBN Merchant Bank Limited.