Whitecrust Asset Management has appointed Seyi Daramola as its new Managing Director, effective immediately. Daramola brings extensive experience in financial services and capital markets to the role.
Leadership Announcement
The announcement was made by Kingsley Eremionkaer, Managing Director of Whitecrust Investment Limited, which oversees Whitecrust Asset Management. In his new position, Daramola will guide the company’s strategic direction, enhance investment performance, foster customer relationships, and promote the integration of technological innovations within financial solutions.
Comments from the Board
Retired General Lekan Sokye, Chairman of the Board at Whitecrust Asset Management, expressed confidence in Daramola’s ability to contribute to the company’s growth objectives. He emphasized Daramola’s extensive technical knowledge in debt and capital markets, stating that his proficiency in risk management and employee motivation aligns perfectly with the organization’s vision for future expansion. Sokye highlighted Daramola’s integrity and successful track record in managing significant portfolios as assets that will help the firm consistently deliver value to its clients and stakeholders.
Professional Background
Daramola joins Whitecrust Asset Management with over 20 years of experience in Nigeria’s financial services industry. His career includes prominent roles in investment management, treasury operations, and capital raising. Before this appointment, he served as Managing Director and Chief Executive Officer at MorganCapital Investment Limited and Allied Trust Asset Management Company Limited. His previous positions also include senior leadership roles at Capitalfield Asset Management Company Limited and Cowry Asset Management Limited, where he significantly influenced portfolio management and business development.
Qualifications and Affiliations
A certified portfolio and fund manager, Daramola is registered as a sponsoring individual with the Securities and Exchange Commission (SEC). He holds a Higher National Diploma in Accountancy from the Lagos State University of Science and Technology and is an honorary senior member of the Chartered Institute of Bankers of Nigeria (CIBN). Additionally, he is a member of the Nigerian Institute of Credit Management and a Fellow of the Abuja Institute of Oil and Gas.
Strategic Growth Initiatives
This leadership transition occurs as Whitecrust Asset Management aims to expand its presence in Nigeria’s financial services sector. In a significant step forward, Whitecrust Investment Limited announced that its subsidiary, Whitecrust Finance Company Limited, received approval from the Central Bank of Nigeria (CBN) to operate as a financial company in 2025. This regulatory approval represents a pivotal milestone for Whitecrust, enabling it to broaden its portfolio of financial products and services.
Future Outlook
With Seyi Daramola at the forefront of the wealth management division, Whitecrust Asset Management is poised to enhance its investment services and solidify its position within Nigeria’s dynamic financial landscape. The company anticipates leveraging Daramola’s expertise to support its long-term growth strategy and deliver innovative financial solutions to its clientele.
