Otunba Michael Olasubomi "Subomi" Balogun CON (9 March 1934 – 18 May 2023) was a Nigerian Yoruba banker and philanthropist who founded First City Merchant Bank,[1] a company that later became the FCMB group.
[4] As a student in London, Balogun regularly attended fellowships and had the opportunity to meet some noted Nigerians such as Yakubu Gowon before the latter was president.
After earning his law degree, he returned to Nigeria to join the Ministry of Justice, Western Region.
[5] After the January 1966 coup, he joined the Nigerian Industrial Development Bank where he served as principal counsel and company secretary between 1966 and 1975.
[6] When Balogun's ambition to head ICON was not realised, he left the firm to found City Securities, a stock broking and issuing house.