The founder of FCMB, Otunba Subomi Balogun, has died.
He reportedly died in London Friday morning.
Otunba Balogun celebrated his 89th birthday in March.
He was an alumnus of Igbobi College and studied law at the London School of Economics.
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, he ventured into banking and joined the Nigerian Industrial Development Bank, NIDB.
He pioneered Icon Securities, a subsidiary of NIDB which specialised in merchant banking, as Director of Operations.
He ventured into several commerce and economics firms until he established First City Merchant Bank, FCMB, in 1979.
Following regulations by the Central Bank of Nigeria, CBN, the bank metamorphosed into a universal bank and changed its name to First City Monument Bank.