Profile of key Principal (Frank Onwu)

Mr Onwu is an investment banker of more than 34 years’ experience. He started his career in the capital market operation of Icon Limited (Merchant Bankers) in 1981. In that role he contributed in the establishment of precedents by working on the first public merger between two quoted companies on the Nigerian Stock Exchange and handling the launch of the first successful unit trust quoted on the Nigerian Stock Exchange. He also managed and advised on several public issues, divestments and privatisations in a wide range of industries. He retired from Icon in 1997. Between 1997 and 1998, Mr Onwu served as Chairman/CEO of First Ideas Limited, a financial advisory services company engaged in mergers and acquisitions advisory, privatisation and investment advisory to pension funds and publication of pioneer newsletter on the Nigerian capital market. He joined International Finance Corporation (World Bank private sector investment arm) in 1998 as financial consultant and investment officer. In 1999 he joined Fidelity Bank Plc as Deputy General Manager and head of Treasury and Investment Banking. In this role, he worked on a number of privatisation exercises for the Federal and state governments in the hospitality and cement sectors. He also handled the launch of one of the leading unit trusts in Nigeria, Nigeria International Growth Fund (NIGFUND). He was at various times division head for the Corporate Bank and sector head of Credit and Marketing. He retired as General Manager in the bank and the Managing Director & CEO of the bank’s subsidiaries, Fidelity Union Securities Limited, FUSL Insurance brokers Limited and FUSL Nominees and Supervising Director of Fidelity Pension Managers Limited. He is currently Chairman of CBO Investment Management Limited (formerly Penguin Asset Management Limited), a Securities and Exchange Commission registered Fund Management Company and Chairman/CEO of First Ideas Limited, an unregistered advisory firm.
Mr. Onwu serves on various boards and was the pioneer chairman of the Association of Issuing Houses of Nigeria. He has lectured on Mergers and Acquisition at Lagos Business School, FITC and several seminars organized by financial institutions. His career includes attachments to many leading financial institutions including Morgan Guaranty Trust Bank and Baring Brothers in London. He has also attended various advanced management programs at New York Institute of Finance and the Executive Development Program of Wharton Business School, University of Pennsylvania, U.S.A. He holds a Bsc degree in Economics and an MBA in Finance from Michigan State University, East Lansing, Michigan, U.S.A. He is also a certified stockbroker on the Nigerian Stock Exchange and Fellow of the Chartered Institute of Stockbrokers of Nigeria.