Billionaire businessman and grand master in the banking industry, Otunba Subomi Balogun, has reportedly taken his exit, aged 89. The founder of the famous First City Monument Bank, FCMB, reportedly passed in London on Friday morning, ending a luminous era in the business circle in Nigeria.
He had his imprimatur in ICON Ltd and City Securities before he later applied for a merchant banking licence that birthed First City Merchant Bank, which he solely owned.
He gave his all to the FCMB instilling in its business architecture the spirit and philosophy of excellence. To his credit, he was the first to create a special dining room for bank employees and insisted they wear dark and conservative suits.
He also introduced the elegant, memorable, likeable, and relatable bank architectural model synonymous with the average FCMB branch, now widely adopted in different iterations by banks in the country.