Former Managing Director of Guaranty Trust Bank, Tayo Aderinokun is dead. Mr Aderinokun, who had been on medical leave for some months, died in a United Kingdom hospital Tuesday afternoon.

Mr Aderinokun co-founded Guaranty Trust Bank Plc in 1990 and served as Deputy Managing Director for 12 years between 1990 and 2002, after which he became the Managing Director, a position he held until his passing.

During his time as Managing Director, the Bank witnessed tremendous progress and growth and had emerged over the years as an industry leader. He was also the recipient of numerous awards.

Since Mr Aderinokun went on leave, the bank has been led by an Acting Managing Director, Segun Agbaje who was Deputy Managing Director from 2002 till April 20, 2011.

Tayo Aderinokun holds a first degree in Business Administration from the University of Lagos and an MBA with special concentration on International Business from the Graduate School of Management, University of California, Los Angeles.

His professional education includes Credit and Relationship Management training at the Chase Manhattan Bank Institute for International Banking New York, USA (1982-1983). His professional working experience was gained working with several financial institutions beginning with the Central Bank of Nigeria in Calabar, where he did his National Youth Service (1977-1978).

He worked with Chase Merchant Bank Nigeria Ltd (later renamed Continental Merchant Bank) from 1981 to 1988. He was at Prime Merchant Bank Ltd (1988 and 1989) as an Assistant General Manager rising to the position of Head of the financial services division of the Bank. In 1989, he set up a non-bank financial institution, First Marina Trust Ltd., which he ran for a year. In 1990 he co-founded Guaranty Trust Bank Plc where he served as Deputy Managing Director before taking over in his current position as Managing Director/Chief Executive Officer in August 2002. He was responsible for strategic policy direction as well as day-to-day administration of the Bank.