In 2008 four friends (Michael Nzewi, Mohammed Garuba, Femi Ogunjimi and Yomi Jemibewon) came together to push a common goal. That goal was simply to disrupt the investment banking landscape in Nigeria for good. That venture was christened CardinalStone Partners. The vision of the company was “to be West Africa’s leading independent multi-asset management firm”.
Ten years after the birth of that baby, it has become a force to reckon with in the financial sector. In celebration of ten years of solid achievements, the company put together a week long activities which climaxed with a dinner at the Eko Hotels and Suites. The elaborate event which attracted players from the sector was a testimony to the fact that CardinalStone has carved a niche for itself as a major force in the financial services sector.
The MD/CEO of CardinalStone partners Mr. Michael Nzewi gave an insight into what they set out to do at inception and he said “essentially what we said was with the clients and entrepreneurs like us who are just starting out or in the infant stage of their business, we see and recognise their hustle, we want to support them such that they flourish and will emerge as major players in their industries”.
According to the Chairman Mr. Fola Adeola, the company has been meeting it’s obligations to stakeholders he said “for about five years now we have paid dividends year in, year out. We will pay dividend this year”.
On his part, Bola Onadele Koko MD/CEO FMDQ OTC SECURITIES. “this entity has employed Nigerians, probably over 70, has created jobs, is paying taxes and contributing to the development of the economy. It should be celebrated”.
With just four staff (the four partners) and two NYSC staff at inception, the company today employs over three hundred and eighty (380) staff. With N60bn plus as value of funds under management, 20% average annual return on investments. With 10, 000 number of retail clients, 100 plus institutional clients and $100m size of private equity fund. It is clear that CardinalStone is here for the long haul maintaining their core values of TRUST, EXCELLENCE and MERITOCRACY.