Coronation Merchant Bank has announced that Paul Abiagam will become its Managing Director and Chief Executive Officer effective 1 December 2025. The appointment, approved by the Central Bank of Nigeria, coincides with the bank’s tenth anniversary and signals a new chapter in its growth and development.
Abiagam, who has been serving as Acting Managing Director, brings more than 27 years of experience across 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 headed 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 posted one of its strongest performances in recent years. Growth accelerated across core metrics, profitability improved significantly, and client engagement deepened. The bank expanded its balance sheet, reinforced its capital position, and strengthened its market presence. In 2024, it launched new business verticals—Public Sector and Financial Institutions—to sharpen execution and broaden client relationships across an expanded sector base. It also bolstered its standing in the Equity Capital Markets, advising on several landmark capital‑raising transactions for leading institutions navigating regulatory reforms.
The bank’s Chairman, Babatunde Folawiyo, welcomed Abiagam’s appointment, expressing confidence in his ability to sustain the growth trajectory and guide the institution into a new era of performance and industry leadership. Abiagam described his confirmation as a privilege, emphasizing his focus 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 in which Coronation Merchant Bank received multiple recognitions for 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 status as a leading industry player.
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