Oct 2010 Financial News

New head for BNB

Oct 28, 2010

A new CEO and Managing Director is to take over at the Barbados National Bank (BNB). He is Derwin Howell, who will take up the appointment from early January 2011.

He will replace Robert Le Hunte who is being reassigned to Republic Bank in Trinidad and Tobago.

Republic Bank Limited, which owns the majority of shares in the BNB, announced yesterday that Le Hunte will take up the position of General Manager, Group Planning and Financial Control at the Bank’s head office in Trinidad and Tobago.

As a key member of the Bank’s Executive Management Team, Le Hunte will report directly to Republic Bank’s Managing Director, David Dulal-Whiteway.

Howell, currently General Manager, Commercial & Retail Banking in Trinidad and Tobago succeeds Le Hunte as the Managing Director and CEO of BNB.

The appointments take effect from January 8, 2011.

In announcing the changes, Dulal-Whiteway explained that the movements formed part of a broader reorganisation of the Bank’s Executive Management Team (EMT), designed to broaden the exposure of its members and prepare them for greater leadership opportunities in the progressive Caribbean Banking Group.

The Bank’s philosophy, according to Mr. Dulal-Whiteway, is to provide as many opportunities as possible to “round off” the skills and experiences of its staff, management and leadership teams, through exchanges and extended postings in countries in which the Bank operates subsidiaries.

In his new position as General Manager, Group Planning and Financial Control, Le Hunte will assume responsibility for the strategic planning and financial management of the Republic Bank Group and will have a key role in the Bank’s expansion thrust through mergers and acquisitions.

During the last seven years under his leadership, BNB’s profits have increased more than two fold from Bds$23 million in 2003 to Bds$49 million at the end of fiscal 2009.
It was also during his watch that the Bank opened three new branches at Warrens, Worthing and Holetown while significantly refurbishing and relocating its Broad Street facility.

In commenting on his new posting, Le Hunte said that while he was sad about leaving Barbados, which had so warmly embraced him over the last seven years, he was excited about leading the Group’s planning and financial control functions and executing its expansion strategy from the Head Office.

“BNB is a stable and dynamic bank with professional and committed staff who are customer focused and readily adaptive to change. I have every confidence that BNB is in good hands with the management and staff and under the new leadership of Mr. Howell,” said Le Hunte.

The new Managing Director designate, Derwin Howell has been a member of Republic Bank’s Executive Management Team since 1997 and as the General Manager, Commercial & Retail Banking he has responsibility for the Bank’s 40 branches in Trinidad and Tobago and the entire sales function. He previously served as the General Manager, Information Technology Management and General Manager, Business Transformation. Howell held the reigns at BNB from April to July while Le Hunte attended Harvard Business School.

Howell indicated that he is passionate about quality service and values the importance of customer relationships.

He said, “I embrace this new and exciting opportunity with eager anticipation and look forward to moving BNB to the next level of performance. With the support of the dedicated and committed team at BNB, my focus from January 8, 2011 will be on broadening our current support of the small business sector while providing new and beneficial financial services to our varied client bases.”


Source:
Barbados Advocate
Thursday October 28, 2010

http://www.barbadosadvocate.com/newsitem.asp?more=local&NewsID=13663