Dunbar McFarlane has officially retired as general manager from the National Building Society of Cayman.
He guided the organisation through one of the most difficult periods in Cayman’s history, repositioning the institution to grow the value and range of its services, said NBSC Chairman Earl Jarrett.
“He transformed an organisation that Jamaica National Building Society had acquired, as part of a rescue mission with the endorsement of The Cayman Islands Monetary Authority,” Mr. Jarrett said. And, despite the reductions the Cayman Islands has seen in its financial services and tourism, he oversaw growth in loans and savings for NBSC.
Mr. McFarlane had served with for nearly a decade with Cayman’s sole building society, ‘The National,’ following three decades in the banking sectors of Jamaica and the United Kingdom, Mr. Jarrett stated. The National is a subsidiary of the Caribbean’s largest building society, Jamaica National Building Society, of which Mr. Jarrett is general manager.
As Mr. McFarlane left his post in March, the building society continues to surmount with the challenges facing the Cayman economy, Mr. Jarrett said. He suggested that strategies must be devised to make the Islands more hospitable to business, “so that we can see the end of this financial storm”.
“Although Dunbar is retiring from active day-to-day duties as general manager, I am positive that his expertise will always be in demand, given his unique grasp and experience in the sector over these many years,” said Mr. Jarrett.
A farewell function for Mr. McFarlane was held at The Wharf Restaurant, on the Grand Cayman waterfront, on Friday, 12 April.