Atlas Mara, a sub-Saharan financial services group, has announced that the Chairman of the Board Arnold Ekpe, will step down on December 1, 2016.

Ekpe is stepping down at the end of his 3-year term to concentrate on his other interests.

Ekpe has 30 years of African and international banking experience, including over 12 years of CEO experience with pan African banks.

He’s well versed in M&A, financing and capital structure management.

His past roles include Group CEO of Ecobank Transnational Incorporated; CEO of United Bank for Africa, Partner at Africa Capital Alliance, Vice President and Head of Corporate and Structured Trade at Citibank; and Non-Executive Director of UAC Nigeria, ADC Africa Development Corporation, Dorman Long Engineering and Virgin Nigeria Airways.

Ekpe said: "It has been a privilege to serve as chairman of Atlas Mara. What the team has achieved in establishing and building Atlas Mara over such a short time is remarkable. I believe the foundation has been laid for the future growth and success of the group. I wish the board and all the talented people who work at Atlas Mara every success in the future."

While the firm transitions to a new independent chair, the board of directors has elected Bob Diamond, currently a non-executive director and Co-Founder, to perform the duties of the chairman of the board on an interim basis. 

Diamond said: "All of us on the board want to thank Arnold for the leadership he has provided over an extraordinary period of growth at Atlas Mara. I personally want to thank him for all he has done to help the Group achieve its goals. We wish him all the very best in his future endeavours."

Rachel Robbins, Senior Independent Director, added: "I want to thank Arnold for his leadership and dedicated service to the board and Company.” 

“Having Bob take on the chairmanship on an interim basis will provide a seamless transition of board responsibilities and leadership on all strategic initiatives underway at Atlas Mara. It is the board's intention that Bob will serve as chairman for a limited period, while we transition to a new independent chairman," she said.

The Company will announce its third quarter results for the three months to September 30, 2016 on October 25.

Early indications for Q3 2016 reflect continued positive operational momentum, as was reported in the half-year results announced on 24 August 2016.