CIBC FIRSTCARIBBEAN ANNOUNCES THE APPOINTMENT OF A NEW CHIEF EXECUTIVE OFFICER

New CEO takes office from 1st November

The Board of FirstCaribbean International Bank Limited (CIBC FirstCaribbean) has announced the appointment of Mr. Mark St. Hill as the next Chief Executive Officer, subject to regulatory approval. Mr. St. Hill assumes the post on 1st November 2022, with the retirement of the bank’s current CEO, Ms. Colette Delaney.

In making the announcement, Chair of the Board of Directors, Mr. David Ritch, noted: “We are proud to appoint the first Caribbean national to hold the post of CIBC FirstCaribbean’s Chief Executive Officer. With Mark taking the CEO’s chair it marks the 4th consecutive appointment of a regional person to an executive role, which is a reflection of our focus on recognizing and developing regional talent.”

He added: “Mark brings to the post 32 years of practical and technical experience in banking having worked his way through the bank from the post of “teller”. Most recently he has driven the execution of our bank’s digitalization strategy. He is perfectly positioned to lead the bank at this time of transformation within the financial services industry. Like his predecessor, Colette Delaney, he is an expert in one of the key pillars of our strategy – developing relationships, whether it be with our clients, our employees, or our suppliers.”

Mark St. Hill has served the bank in various positions spanning Insurance Brokerage, Retail Banking, Corporate Banking, Credit Risk, International Banking and Wealth Management, Mark has also held senior management positions in several countries in the Caribbean such as Grenada, British Virgin Islands and Barbados. In addition, he sits on a number of the boards of the bank’s operating companies and is a trustee of the FirstCaribbean International ComTrust Foundation, the bank’s charitable foundation.

Mark is a Fellow of the British Institute of Chartered Secretaries and Administrators, a graduate of the FirstCaribbean Executive Leadership Program with Wharton Business School and has recently completed the Masters Certificate Program in Financial Services Leadership in conjunction with Schulich School of Business and CIBC. He is also the President of the Barbados Hockey Federation. Mark is married to Simone and is the proud father of three children.

Mark’s appointment comes as the bank prepares to say farewell to its CEO of the past four years, Ms. Colette Delaney, who assumed the role on 1st November 2018. Ms. Delaney joined CIBC FirstCaribbean in 2013, and amongst other roles she has served as the Bank’s Chief Risk and Administrative Officer. She was appointed Chief Operating Officer with effect from 8th December 2017 and is a member of the board of CIBC FirstCaribbean International Bank. She also served as Chair of the bank’s charitable organization, FirstCaribbean International ComTrust Foundation.

“Colette’s appointment as Chief Executive Officer, the first woman to be appointed to the role, was a landmark in the bank’s history. She brought to her tenure as CEO the steady hand that the bank needed during the past two years as we struggled with the COVID-19 pandemic and its effect on our region. Her ability to reassure both employees and clients of the bank’s stability and support helped to assuage the concerns of our various stakeholders during a testing period.”

The Bank also announced on Friday the retirement of Mr. Dan Wright, Managing Director of Wealth Management, effective 28th February 2023. Mr. Wright joined CIBC FirstCaribbean in December 2012, as Director, Private Wealth Management. In October 2013, he assumed the position of Managing Director, Wealth Management to reflect his additional regional responsibilities for our International Corporate Banking business and our two trust companies, FirstCaribbean International Bank & Trust Company (Cayman) Limited and FirstCaribbean International Trust Company (Bahamas) Limited.

Mr. Pim van der Burg, FCIB’s Managing Director, Corporate and Investment Banking, will assume responsibility for the Wealth portfolio effective September 5th, 2022. The two executives will work together on transition activities until Mr. Wright’s retirement.

The Bank’s subsidiary, FirstCaribbean International Bank (Barbados) Limited, has also stated that that it will cease operations in Dominica on 31st January 2023. The Bank will start contacting its clients in Dominica within the coming days, to advise of timelines for its withdrawal from Dominica and what clients need to do ahead of the closure date. Ms. Delaney thanked the Bank’s staff and clients in Dominica for their years of loyalty to the Bank.