Sep 2006 Financial News

FCIB unit to focus on tourism sector

Sep 11, 2006

FIRSTCARIBBEAN INTERNATIONAL BANK has restructured its Corporate Banking unit, with new emphasis on relationship management and specialisation across economic sectors.

Corporate Finance manager with responsibility for the hospitality sector, Roger Best, told this to tourism industry partners during the 2006 re-Discover The Caribbean show at Sherbourne Conference Centre.

Addressing the opening of the two-day event as representative of its lead sponsor, Best said the restructuring was in response to customer demand and he and his team were charged with developing corporate business in the hospitality sector.

Among other things, it entails providing specialised industry and product knowledge and advice to hospitality clients.

"Emphasis is placed on providing transaction structuring and delivery for large value and complex deals . . . transactions vary from small private deals to high-profile multinational acquisitions and disposals, expansions and new-project finance," said Best.

Outlining FirstCaribbean's commitment to the tourism industry, Best said it started long before their association with the re-Discover The Caribbean show and was evidenced by the creation of a strategic partnership with the Caribbean Hotel Association, the umbrella body for regional national industry associations. With the partnership, FirstCaribbean created a framework through which industry workers could benefit from the many products and services offered by the bank.

The Corporate Finance manager described the bank as a good example of CARICOM Single Market and Economy at work, indicating that they operated in 17 Caribbean countries with more than 3 500 staff, along with 100 branches and banking centres while servicing 800 000 active accounts.

Said Best: "We can assure that our products and services have been developed and tailored to support our vast knowledge of each unique environment".


Source:
Nation News Barbados
Monday 11th September, 2006

http://www.nationnews.com/story/331832017663773.php