May 2008 Financial News

Guiseppi leaves RBTT Merchant Bank

May 08, 2008

Career banker Lyndon Guiseppi is no longer head of the RBTT Merchant Bank.

RBTT Group chief executive Suresh Sookoo confirmed in a statement that Filippo Alario has been appointed acting managing director of RBTT Merchant Bank, "following the departure" of Guiseppi.

His departure comes amid a takeover of the RBTT banking group by the Royal Bank of Canada, that country's largest commercial bank.

RBTT Financial has applied to suspend trading of its shares on the local stock market to facilitate the acquisition by RBC and the distribution of cash and RBC stock for RBTT shares. The transaction is expected to be completed by the end of May or mid-June.

A spokesperson for RBTT said yesterday that Guiseppi's departure at the bank had "absolutely nothing" to do with the amalgamation of RBTT and RBC.

Alario has worked as deputy managing director at the merchant bank for the past three years. Guiseppi, an economist, led RBTT's corporate banking division from 1997 and worked in senior positions at a number of local banks before he took over as managing director of RBTT Merchant Bank.

About Guiseppi's departure, RBTT's Sookoo said in a statement: "I wish to thank Lyndon for his contribution to RBTT and wish him well in all future endeavours."


Source:
Curtis Rampersad
Daily Express
Thursday, May 8th 2008

http://www.trinidadexpress.com/index.pl/article_news?id=161320129