Coronation Merchant Bank has announced the appointment of Paul Abiagam as its new Managing Director and Chief Executive Officer, effective December 1, 2025. The appointment, which has been approved by the Central Bank of Nigeria, coincides with the bank’s tenth anniversary and marks the beginning of a new chapter in its growth and development.

Abiagam, who has been serving as Acting Managing Director, brings over 27 years of experience in commercial and corporate banking, pensions, wealth management, investment banking, and risk management. His career includes senior leadership roles at Diamond Bank and Guaranty Trust Bank, where he led Commercial and Corporate Banking divisions. He also served as Managing Director/CEO of Guaranty Trust Pension Managers and as a Non-Executive Director at GTBank Côte d’Ivoire.

During his tenure as Acting Managing Director, Coronation Merchant Bank recorded one of its strongest performances in recent years, with growth accelerating across core metrics, profitability improving significantly, and client engagement deepening. The bank also expanded its balance sheet, reinforced its capital position, and strengthened its market presence.

In 2024, the bank launched new business verticals, including Public Sector and Financial Institutions, designed to sharpen execution and broaden client relationships across an expanded sector base. It also strengthened its standing in the Equity Capital Markets, advising on several landmark capital-raising transactions for leading institutions navigating regulatory reforms.

Abiagam’s appointment has been welcomed by the bank’s Chairman, Babatunde Folawiyo, who expressed confidence in his ability to sustain the bank’s growth trajectory and guide it into a new era of performance and industry leadership. Abiagam himself described his confirmation as a privilege, stating that his focus remains on deepening value for clients, strengthening the bank’s market position, and driving innovation across every part of the business.

The announcement follows a year marked by multiple recognitions for Coronation Merchant Bank across investment banking, brand leadership, and capital markets excellence. As the bank celebrates a decade of impact, it is poised to continue its growth and expansion under Abiagam’s leadership. With his strategic insight and steady execution, Coronation Merchant Bank is well-positioned to navigate the evolving financial landscape and maintain its position as a leading player in the industry.