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facilitate trade and investment flows between Africa and Europe. We do so by supporting African corporations and institutions conducting business in and with Europe, which are look- ing for a familiar and trusted partner in London. At the same time, we also do so by supporting European corpo- rations and institutions doing business in and with Africa, which are looking for a partner that understands Africa and is comfortable operating in
and navigating the continent. This
is an exciting space within which to operate and there are opportunities for growth.
How synergized are UBA UK’s opera- tions with those of the UBA Group?
UBA UK is a wholly owned banking subsidiary with its own Board of Direc- tors, who have ultimate responsibility for the Bank in the UK. That means that the Bank must have a robust and independent governance struc- ture and all decision-making must be made within UBA UK, independently of the Group. However, in many ways, UBA UK is very much aligned with the Group and there are a lot
of synergies that are being explored between UBA UK and the Group. These include coordinated business development activities, aligned
risk management frameworks, and complementary treasury services, to name a few.
We have also recently begun intro- ducing extensive induction training programs in Lagos for senior execu- tives who join the Bank in London.
What competitive advantage does the bank have in the UK? How will you distinguish this African Bank?
For us in the UK it is imperative that we distinguish ourselves from the other African banks here in London. First and foremost, a clear competi- tive differentiator is the pan-African footprint that UBA has, which will allow us to strongly position UBA UK as a pan-African bank in the heart of
“
UBA UK is very much aligned with the Group and there are a lot of synergies that are being explored between UBA UK and the Group.”
London. Compared to many of our peers in London, UBA has the largest unified network across Africa, which is key when we position ourselves in the marketplace. Secondly, as part of our positioning, we will focus on our understanding and experience on the African continent, and our ability to be a trusted and reliable partner to any firm or institution deal- ing in or with the African continent.
What does a day in the life of Patrick look like?
As the CEO of UBA UK, I have ulti- mate responsibility to the UBA UK Board of Directors for all day-to-day workings within the Bank. This inher- ently means that a lot of my time is spent with the various departments within the Bank to ensure that we are operating effectively and efficiently, within our agreed risk and compli- ance framework, and in line with our strategy.
Furthermore, I inevitably have some engagement with the Group on any given day and I believe that the linkage with the larger Group is im- portant and must be managed and maintained continuously.
Finally, I have a number of client calls each week, so often I have one or two meetings with existing or prospective clients on any given day. This is an important part of my day, as it helps me understand the requirements and needs of our clients and how we can adjust and fine-tune our value proposition to make it as attractive as possible for our clients.
What are your plans for the next five years, and where do you see the challenges and opportunities?
Our focus in the short-term is to build a platform for growth within UBA UK. This platform will give us the founda- tion upon which a sustainable and profitable business model can be delivered. Our longer-term ambi- tion is for UBA UK to be a significant contributor to the Group, in terms of profitability, but also in terms of our ability to raise lower-priced liabilities for the Group and to broaden and expand the Group’s product offering by being fully engaged and integrat- ed into the London financial markets.
What have you discovered about UBA Group since you started working at the Group, that you didn’t know before.
Having previously worked for a rival pan-African bank, I have known and followed UBA for many years. That being said however, the
Bank’s investment and build-out of its consumer banking technology proposition is very impressive and not something that I was very aware of before joining UBA. Finally, the people within the Group have been very supportive and given me and the whole team in London a lot of encouragement and assistance
for which we are very grateful. Although this was not necessarily
an unexpected ‘discovery’, it has nonetheless been a very positive and energizing experience.
34 | The Lion King | Commemorative Edition | January - April 2019