In this post, we will be talking about the biography of Lamin Manjang. Lamin Manjang is an executive banker. In 2018, he was appointed the Chief Executive Officer (CEO) of Standard Chartered Bank Nigeria. Manjang joined Standard Chartered Bank in 1999 and has over 20 years of banking experience with the bank.
Altogether, Lamin has over 30 years of professional experience. Prior to joining Standard Chartered Bank, he was the managing director of Gambia International Airlines.
Biography, Net Worth, Background And Career Journey Of Lamin Manjang
Lamin Manjang Background
Lamin Manjang hails from The Gambia. He holds a Bachelor’s Degree and Master’s Degree in Business Administration. He is an associate member of the Chartered Institute of Management Accountant (ACMA) and also a Certified Credit Analyst.
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Laman Manjang Career
Lamin joined Standard Chartered Bank in The Gambia in 1999. He worked in The Gambia for about three years, before moving to Tanzania in 2002 for another one year. Next, in 2003, he moved to Sierra Leone as the CEO. Thereafter, he became the CEO in Uganda, and subsequently, he moved to Oman. Later on, he led Kenya and East Africa for five years before finally moving to Nigeria in May 2019.
Over the years, Lamin has built up extensive experience providing strategic direction in various capacities. He supports the group’s strategic intent in Nigeria and represents the bank on various boards in Africa. He is also leading as a Senior Banker on major key relationships
Membership
He is a member of the following committee of the bank;
Member of the Board Risk Committee
Member of the Board Credit Committee
A Member of the Board Nomination
Evaluation and Remuneration Committee
Chairman of the Asset and Liability Committee of the Company
Standard Chartered Bank Nigeria
Standard Chartered Bank began in the 90s and originally existed as the Standard Bank of South Africa.
In 1965, the Standard Bank of South Africa merged with the Bank of West Africa. They acquired businesses and also a banking operation in Nigeria which existed back in 1894. The new entity’s name was changed to Standard Bank of West Africa.
After four years, Standard Bank Nigeria was incorporated to take over the local businesses in Nigeria. 13% of the share of the Standard Bank Nigeria was placed with Nigerian investors.
However, an economic upturn at the end of the civil war posed a threat to the retail banking sector as the military sort more control of the retail banking sector.
As a result, the bank’s investment in Standard Bank of Nigeria was reduced to 38% and the bank was renamed First Bank of Nigeria in 1979. However, Standard Chartered remained a shareholder of First Bank of Nigeria until 1996.
Standard Chartered re-entered Nigeria in 1999 and opened to customers on 15 September 1999 as a wholly owned subsidiary of Standard Chartered Bank Plc, headquartered in United Kingdom.
Standard Chartered Bank offers a wide range of products and services in retail, wealth management, commercial, corporate and institutional, private, digital, and transactional banking.
According to Lamin, Standard Chartered Bank Nigeria is the biggest market for the bank in Africa. “…It is the largest contributor to our top line and bottom line, so it is a strategic market..”
Lamin Manjang Quotes
“There are market driven prescriptions for addressing the cost of credit in order to improve access to finance.”
“We are in the business of commercial banking, which we will continue to engage in and do to the best of our capability…”
“Sustainability is not something we see as separate from our core business. We believe that it is integral to business because when we do our core business well, we are actually contributing to the overall economic development of the country.”
“Investment is a key component of GDP as well as consumption and these are all areas where banks can play a critical role.”
“Digital platforms, not buildings, are the future of retail banking.”
“If you don’t play in the space, then you give a chance for somebody else to come and play in that space. So this is our space; payment and money are our strengths.”
“We are one of the strongest banks when it comes to international trade given our unique footprint as an international bank.”
“…for trade finance, we actually are very strong. It is one of our strong areas of competitive advantage.”
“Digital channels are susceptible to cybercrime and, therefore, this is one of the key threats on the radar of every single bank.”
“What we are selling is the whole customer experience…”
“We believe that the future of retail banking would largely dovetail towards the digital channels.”
Entrepreneurial Lessons From The Life Of Lamin Manjang
Knowledge and Excellence
Lamin did not climb the executive ladder on a platter of gold. It is as a result of hard work, determination and hands on knowledge of his profession. Lamin has a deep knowledge of the African market, clients and regulations.
His experience in the banking sector is broad. Lamin has also helped to proffer solutions to several challenges that Standard Chartered Bank has faced. His experience and knowledge is an edge for him in the banking industry. This he uses to build sustainable relationships and drive growth for Standard Chartered Bank.
Success in life does not happen in a flash. You have to develop yourself, put in the work and prepare for opportunities that may arise.
Team Work
A popular quote says “If you want to go fast, go alone, but if you want to go far, go with people.” Lamin understands that building Standard Chartered is a team effort, and that his team is essential to the overall success of his strategies.
On his appointment as the CEO of the Nigeria’s bank, he said “I am very excited about the opportunity to lead the team in terms of taking the business, which is quite big, to the next level with the support of the team that I have on the ground.”
As an entrepreneur, you can’t do it all by yourself. You need a formidable team. How you get the team to believe in the vision and work with you in achieving the goal is very important.
