Former Managing Director of Fidelity Bank Ghana, Jim Baiden has said a company can only fail because of its leadership.
Speaking at a Special Gold Appreciation Dinner organized by the bank in honour of him, Mr Baiden said, for a bank to stand the test of time, it requires strong and resilient people to manage it.
“You have a credit manual that has been approved by the board, you have credit guidelines; do you conform to the policies and guidelines? Or do you cut corners?” he said.
Mr Baiden added, “We have prudential requirements and ratios that we submit to Bank of Ghana on weekly basis, do you doctor your figures and create the impression that you are doing well when behind the scene, it’s all rots?”
He, therefore, urged directors of banks to adhere to good corporate governance to make strides in the sector.
Mr Baiden’s message comes in the wake of the banking sector cleanup where the Central Bank moved to withdraw licenses of some banks especially for failure on the part of the directors of those banks.
About Jim Baiden
A section of the public was agitating that the regulator’s move to clamp down on non-performing banks was an agenda to prevent indigenous banks from operating in the country. But under Mr Baiden’s leadership, he ensured that Fidelity Bank met the ¢400 million minimum capital requirement before the December 31st deadline.
Jim Baiden was the co-founder of Fidelity Bank, with responsibilities for Treasury and Wholesale Banking amongst others.
Prior to that, Jim served as Executive Director of Fidelity Discount House from 2002 after serving as the General Manager since the company’s inception.
He has had an illustrious 20-year career as a leading Treasury Manager and Investment Banker in the Ghanaian money markets.
In the mid-1980s, Jim worked at National Investment Bank in various capacities including Eastern Regional head, overseeing branch banking and projects.
New Managing Director
The new Fidelity Bank Managing Director, Julian Opuni, has pledged his commitments to the bank. In his address at the event, Mr Opuni assured the bank and its customers of continuing the good work Jim started. He has assured of better operations and customer service in 2019.
The Fidelity Bank Special Gold Appreciation Dinner in honour of Jim Baiden brought together directors in the financial sector, some religious leaders like Archbishop Duncan-Williams and some loyal customers of Fidelity Bank.
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