Mr Abimbola Oguntunde has been appointed as the new chairman of Sovereign Trust Insurance (STI) Plc.
He was chosen to chair the insurance company at the meeting of the board held on Friday, June 13, 2025, a statement from the firm to the Nigerian Exchange (NGX) Limited, disclosed.
It was revealed that until his appointment, Mr Oguntunde was a non-executive director of the underwriting organisation.
The new chairman is an experienced banker, economist and certified project manager with more than 30 years of experience in the banking industry, managament consulting and the international public sector. He has held top management positions in lkeading financial institutions like UBA, Sterling Bank and Access Bank.
Mr Oguntunde studied Economics at the University of Lagos and graduated with First Class honours and subsequently acquired a Master’s degree in Economics from the same institution. He also holds an MBA in International Banking and Finance with distinction from the University of Birmingham, UK.
The appointee has worked with Sovereign Trust Insurance in specific areas of capital raising, business transformation and reorganisation.
He is the Managing Partner of Devtage Consulting and the chief executive of Devtage Group, a global management consulting, technology, corporate training and development firm.