NCB Financial group buys Trinidad firm

An aerial view of the business area of downtown George Town, Grand Cayman
An aerial view of the business area of downtown George Town, Grand Cayman. – Photo: Chris Court

Banking and wealth management firm NCB (Cayman) Limited announced this week that its parent company, NCB Financial Group, has completed the acquisition of the Trinidad-based financial services firm Guardian Holdings Limited.

“As we stated at the beginning of this journey, we believe this transaction is a game-changer in the history of the region,” said NCB Chairman Michael Lee-Chin. “Amidst the context of the de-risking impacting the region, we are proud and excited about the implications and prospects of two leading indigenous Caribbean institutions coming together to drive economic growth, customer and shareholder value.”

Guardian Holdings Limited CEO Ravi Tewari added that the acquisition should allow his firm to better serve the region.

“Since the acquisition of the first block of shares in 2016, the Guardian Group began to see opportunities for a very positive impact for the shareholders, clients and employees of the Guardian Group,” he said. “This further deepening of the relationship between two leading Caribbean companies augurs well for the acceleration of these positive impacts for Guardian and the region.”

NCB Financial Group Limited was incorporated in April 2016 to be licensed as the financial holding company for National Commercial Bank Jamaica Limited.

NCB claims to be the largest financial services group in Jamaica with roots dating back to 1837. The NCB Group includes NCBJ, NCB Capital Markets Limited and subsidiaries and affiliates in the Cayman Islands, Barbados, Bermuda, and Trinidad and Tobago.

Guardian Holdings Limited is the parent company for an integrated financial services group known as Guardian Group, with a focus on life, health, property and casualty insurance, pensions and asset management.

The Group serves markets in 21 countries across the English and Dutch Caribbean, including Trinidad and Tobago, Barbados, Jamaica, Curacao, Aruba, St. Maarten and Bonaire.

Support local journalism. Subscribe to the all-access pass for the Cayman Compass.

Subscribe now