Dec 2009 Financial News

Sagicor Financial Corporation - Retirement of Chairman

Dec 18, 2009

The following press release was received from Sagicor Financial Corporation:

Sagicor Financial Corporation announces the retirement of its Chairman Terrence Martins from the Board of Directors with effect from December 31, 2009.

Mr. Martins was appointed Chairman of Sagicor Financial Corporation in June 2007, having joined the Board as a Director in January 2004. During his tenure, Mr. Martins, a former Group Chief Executive Officer of RBTT Financial Holdings Limited, shared his vast wealth of knowledge and experience with Sagicor, and has made a significant contribution, especially in the areas of corporate governance and enterprise risk management.

The Board of Directors is pleased to announce the appointment of Stephen McNamara as Chairman effective January 1, 2010. Mr. McNamara is currently Vice Chairman of Sagicor Financial Corporation. He joined the Sagicor Group as a Director of Sagicor Life Inc. (the former Barbados Mutual Life Assurance Society) in 1997 and was elected a Director of Sagicor Financial Corporation in December 2002, following the demutualization of Barbados Mutual and the Group’s rebranding to Sagicor. He is an Attorney-at-law and Senior Partner of the law firm McNamara & Company in St. Lucia. The Board and Management welcome Mr. McNamara as Chairman and look forward to his continued keen interest and guidance as he takes up his new position.

Dodridge Miller, Sagicor President and CEO, said:

“Mr. Martins has played a key role in overseeing the enhancement of the corporate governance infrastructure of the Sagicor Group, ensuring that best practices in all aspects of governance are practised by the Board and throughout the organization. He will leave an indelible mark in this area and we thank him for his significant contribution at this important time in our 169 year-old history. We will miss his wise counsel and look forward to building on his legacy under the chairmanship of Mr. McNamara”.


Source:
The Trinidad and Tobago Stock Exchange Limited
Friday December 18, 2009