CIBC senior executive Douglas “Rik” Parkhill has been appointed as chief executive officer of FirstCaribbean effective in September, pending regulatory and government approvals.
The announcement was made recently by Michael Mansoor, chairman of FirstCaribbean International Bank.
Mr. Parkhill will replace John Orr, who will be returning to CIBC as executive vice president, corporate development and strategy, following the conclusion of his three-year term leading the bank.
Mr. Parkhill has been with CIBC since 2008, most recently serving as managing director and global head of capital markets sales and cash equities in CIBC’s Wholesale Banking unit. He has more than 20 years’ experience in the global financial services industry, serving clients in Canada and around the world. Before joining CIBC, he was co-CEO of the Toronto Stock Exchange.
“On behalf of the board, management and employees of FirstCaribbean, I want to express my gratitude to John Orr for his leadership, and I am very pleased to welcome Rik to our organisation,” Mr. Mansoor said.
“Rik is a seasoned financial services executive who is known as a skilled leader and for having a strong employee and client focus. He has the right combination of leadership and industry experience to lead FirstCaribbean at the current stage of our company’s development and in the present economic environment,” he said.
“Rik’s global financial services experience as well as his leadership capabilities make him an ideal successor for the CEO position. In addition, his relationships within CIBC will greatly benefit FirstCaribbean as we continue to seek new opportunities for collaboration and growth in the years ahead,” Mr. Mansoor added.
‘Looking forward to challenges, opportunities’
“I am looking forward to the challenges and opportunities of this new role,” said Mr. Parkhill. “My first priority will be to meet and get to know the people of FirstCaribbean. I have already heard many great things about the talent and skills of the people here and look forward to hearing from them about the potential of this business moving forward.”
Mr. Orr said, “The past three years as the CEO of FirstCaribbean have been a wonderful experience for me. I want to thank the FirstCaribbean management and all 3,400 employees for their support and their dedication in providing the people of the Caribbean with exceptional financial advice, products and services.”
Mr. Orr will remain as CEO until September, when Mr. Parkhill is expected to assume the role.
Mr. Parkhill will be supported in his role by a team of experienced banking executives which include several new appointments.
Tom Crawford, managing director, retail, wealth and small business banking has announced he will retire from FirstCaribbean after nearly 40 years with the CIBC Group. In order to effect an orderly transition of his duties, Mr Crawford will be appointed vice chairman, providing senior coverage to key clients and supporting the CEO on a number of key strategic initiatives for a period of time.
Rolf Phillips will assume the role of managing director, retail, wealth and small business banking and will report to the CEO. Mr Phillips has more than 30 years of diverse banking experience in the Caribbean, with both FirstCaribbean and Barclays, dating to 1980.
Kiyomi Daniel has been confirmed as FirstCaribbean’s chief financial officer following her interim appointment in February. She joined FirstCaribbean in 2003 as a manager in the financial reporting group.
Daryl Hosein will join FirstCaribbean as chief accountant, pending regulatory approval. Mr Hosein joins FirstCaribbean from CIBC Offshore Banking Services Corp., where he is CFO. Mr Hosein has had many years of experience as a finance professional, including eight years within the CIBC Group.