May 2008 Financial News

NCB loses retail division chief

May 14, 2008

National Commercial Bank (NCB) is losing Courtney Campbell, the director responsible for building out a strong retail-banking operation, and who, just weeks ago, was handed a stronger portfolio under a reorganisation that gave new responsibilities to top performers in the group.

Campbell, who leaves NCB on July 20, after five years in charge of retail banking and 23 years with the bank, said he received the chance at a new venture that was too good to pass up.

He refused to go into details.

"I am leaving because I have decided to pursue an interesting and exciting new opportunity," said Campbell. "I am privileged to have worked with such a great team, but I believe that it is the right time to take on this new challenge."

Taken by surprise

It is clear that his resignation took the Patrick Hylton-led NCB by surprise. Senior assistant general manager for marketing and communication, Sheree Martin, said that the bank was not yet in a position to comment on a replacement for Campbell who continues to churn out multibillion-dollar earnings for the group.

The retail division was NCB's top revenue earner in 2007, up from $12 billion to $15 billion.

But while the segment was third in line in contribution to operating profit, Campbell's unit had managed to double those earnings in a year, from $935 million in 2006, to $1.9 billion last year.

Segment assets were also substantially improved at $114 billion, growing from $92 billion.

Campbell, as general manager of the retail banking division, oversees the development and distribution of products and services across NCB's 47-branch network and through its electronic channels, such as automated banking systems, Internet, tele-banking and point-of-sales machines.

It is also responsible for credit-card services.

Said NCB's annual report: "In the area of cards, fees earned from usage of NCB point-of-sales machines increased by 31.9 per cent enabling the bank to maintain its lead position in this market, while our cardholder base grew by approximately 10 per cent.

Bigger responsibility

The bank rewarded Campbell by giving him an even bigger job two months ago.

He assumed responsibility for NCB's remittance businesses, NCB Remittance Cayman Limited and NCB Remittance Services UK Limited, whose managers reported to him under the restructuring announced by Hylton in mid-March.

Campbell, who has been with NCB for 23 years, started as a management trainee and worked as a credit officer, account manager in corporate banking and branch manager before being promoted to general manager of the retail banking division in October 2002. He holds a degree in finance from the University of Manchester.


Source:
Sabrina N. Gordon, Business Reporter
sabrina.gordon@gleanerjm.com
Jamaica Gleaner
Wednesday May 14, 2008

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