CIBC FirstCaribbean has made changes to its senior executive team, subject to regulatory and governmental approvals.
Managing Director of Retail Banking and Small Business Rolf Phillips has decided to take early retirement, and will leave CIBC FirstCaribbean, effective immediately.
Daniel Farmer, the managing director of the Barbados business, has been appointed as the new managing director of Retail Banking and Small Business, replacing Mr. Phillips.
Mark St. Hill, the director of International Wealth, has been appointed as the new managing director of the bank’s Barbados business, replacing Mr. Farmer.
Chief Executive Officer Rik Parkhill said Mr. Phillips was a key player in the core team that launched CIBC FirstCaribbean’s International Banking business in the region. He has also led the Residential Business segment of CIBC FirstCaribbean’s retail business, and during his career with the bank he also held senior roles as sales and performance director of Wealth Management and as managing director.
“We’d like to thank Rolf for his more than 25 years service to CIBC FirstCaribbean and wish him the very best in the future,” he said.
Mr. Farmer joined FirstCaribbean International Bank in February 2010 as managing director for the Barbados Operating Company. He started his career in Barbados with Citicorp Merchant Bank Limited (Citigroup), managing the corporate bank in Barbados. He also previously worked with the Simpson Group of Companies as the group’s vice president of Treasury and overall group director.
Mr. St. Hill has 20 years banking experience in various positions, spanning insurance broking, retail banking, corporate banking, credit risk, international banking and wealth management. He has held several senior management positions in a number of countries in the Caribbean, such as Grenada, the British Virgin Islands and Barbados. He is a graduate of the CIBC FirstCaribbean leadership programme at the Wharton School of Business, University of Pennsylvania and a fellow of the British Institute of Chartered Secretaries and administration.
In other executive changes, CIBC executive Brian Lee, has been named as the bank’s chief financial officer.
Mr. Lee is expected to join the bank in December of this year. He comes to CIBC FirstCaribbean from CIBC’s head office in Toronto where he has worked since 2001, most recently as the senior vice president and chief financial officer of Corporate Finance.
A chartered accountant, Mr. Lee holds a bachelor’s degree and a master’s degree in accounting, both from the University of Waterloo.
Mr. Lee’s appointment comes following the resignation of Chief Financial Officer Kiyomi Daniel.
Additionally, Mr. David Whitcroft has been appointed as CIBC FirstCaribbean’s new Group Treasurer. He replaces, Richard Rice, who Mr. Parkhill noted has made a significant contribution to the bank during his three-year tenure.
Mr. Whitcroft is an experienced Treasury professional having previously served with, National Australia Bank, Barclays and CIBC FirstCaribbean in a series of Treasury roles since 1995. He originally moved to the region in 2001 to work on the Treasury integration project at the time of the Barclays and CIBC merger. Most recently he has been director of Offshore Treasury and Investments for CIBC FirstCaribbean.
In addition to a bachelor’s degree in mathematics from University College, University of London, Mr. Whitcroft holds a postgraduate diploma in actuarial science as awarded by the Cass Business School, City University London. He recently concluded a four-month attachment with CIBC Treasury in Toronto.
Mr. Parkhill said: “We have always prided ourselves on being able to attract the best and Kiyomi and Richard can certainly be counted among the best in their fields. We are grateful to both of them for their service to CIBC FirstCaribbean, and we wish them the best in their new endeavours … We would like to welcome Danny, Mark, Brian, and David to their new positions. They will play an instrumental role in the realisation of CIBC FirstCaribbean’s growth plans.”
Chief Executive Officer Rik Parkhill said Mr. Phillips was a key player in the core team that launched CIBC FirstCaribbean’s International Banking business in the region.
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