JUST IN: FCMB founder, Subomi Balogun is dead
The founder of FCMB, Subomi Balogun, has passed away.
He died in London Friday morning at the of 89.
Otunba Subomi as he was fondly called by associates celebrated his 89th birthday in March.
He was an alumnus of Igbobi College and studied law at the London School of Economics.
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The deceased practiced as a lawyer in the regional justice ministry and then at the federal ministry of justice until the January 1966 coup.
After the coup, Balogun dabbled in banking and joined the Nigerian Industrial Development Bank (NIDB).
He pioneered Icon Securities — a subsidiary of NIDB that specialised in merchant banking — as director of operations. He ventured into several commerce and economics firms until FCMB was established in 1979