Feb 2013 Financial News

Bank’s new Managing Director possesses a well-defined focus

Feb 04, 2013

Mr. Ian R. De Souza who last month took up his appointment as the Managing Director, Republic Bank (Barbados) Limited, is a man with a mission.

De Souza who succeeds Mr. Derwin Howell, who has been appointed Executive Director of Republic Bank Limited, has set himself some personal goals which when placed alongside the thrust of Republic Bank Limited, parent company of the Barbados branch, show just how much of a focus he has brought to his new position.

He spoke about Republic Bank (Barbados) Limited which employs 530 persons and has market share of 22 per cent in terms of assets and loans; the Caribbean thrust by the Bank’s parent company; the recession; the fact that Republic Bank understands its market; and the management set up that ensures the Bank’s understanding of the Caribbean operations.

He brings a wealth of experience to his position. Mr. De Souza is a career banker who is now celebrating his 30th year in the industry. His career has taken him through postings at the Royal Bank of Trinidad and Tobago Limited, the Bank of Montreal, Toronto, Canada, and Citibank (Trinidad & Tobago) Limited. He has been with the Republic Bank Limited Group for 20 years.

Last week when he spoke to Business Monday, he made the point that the goal of Republic Bank Limited is to build a footprint across the Caribbean. His position is that since Republic Bank is a Caribbean bank then it has committed itself towards making the Caribbean a better place. The long and short of this, he said, and while not in these exact words, is that the future of both the region and the bank are directly related.

While working to ensure that the Caribbean franchise and footprint become a reality, there are some personal goals the Managing Director has set himself, and which coincide with what the Bank is attempting.

“Something that is very important to me is that the Barbados National Bank and now Republic Bank (Barbados) Limited, has a strong presence in certain segments of the local market,” De Souza said.

“But we are not as representative as we would like in all segments and one of my objectives is to increase that representation,” he told Business Monday.

He pointed in particular to retail and corporate commercial sectors as the targets for the Bank. “BNB had a strong identification with mortgage lending but I want to see a stronger presence in retail and in the corporate and commercial areas, small businesses, medium sized businesses and larger businesses,” he said while reiterating his ambitions.

He has set himself about five years over which to achieve such results.

“The Caribbean is home to us and if the Caribbean fails, Republic Bank fails.Our decisions are made by people who understand the region,” he remarked making the assertion that Republic Bank has to build the region.

According to him, “At Republic Bank we understand the Caribbean, what moves the region and how businesses move and tick. As a Caribbean bank therefore our decisions are made at home. We understand the value of a name in the Caribbean.”

The current economic recession and the impact it has had on the Caribbean has presented challenges not only to individuals but businesses as well, banks included.

De Souza admitted having seen these cycles before both in the Caribbean including his native Trinidad and Tobago, right here in Barbados, and elsewhere. He has acknowledged that in these situations, there are fall outs: “People lose and banks lose because in a shrunken economy with competition, there is a reduced pie and the weaker companies will tend to become victims of a downturn.”

Mr. De Souza said they in Republic Bank Limited, know how to run a bank in an economy that is not booming.

He cited as examples the situation in both Guyana and Grenada, especially when Republic Bank moved into those two countries.

“We had a lot of tidying up to do in Guyana,” he recalled noting that work involved improving the balance sheet of that entity.

“But today the Guyana operations (Republic Bank)is one of the strongest subsidiaries in the Group,” said De Souza who has also served as President of Republic Bank (DR) S.A. in the Dominican Republic. “Of Grenada we have helped through difficult times,” he said pointing among other things to Hurricane Ivan which had affected the island.

“So you have to be careful how you run your business and you do not want to badly invest the money of depositors,” said De Souza who is a Certified Management Accountant and is the holder of a Bachelor of Science Degree in Economics, a Post-Graduate Diploma in Management and an Executive Masters Degree in Business Administration from the University of the West Indies.

To build the footprint in the Caribbean Republic Bank is also looking at Jamaica and other territories in the region. In fact the only reason they are not into Jamaica as yet is because they are still to find the right vehicle to do so. Republic Bank is also in Ghana and is looking at Latin America, said De Souza.

Finally, what is interesting is the management system which allows for a better understanding of the Caribbean. It goes something like this: Ian De Souza sits on the Board of Directors of Republic Bank (Grenada) Limited; Ronald Harford is Chairman of Republic Bank Limited and the Bank’s operations in Barbados and in Grenada; David Dulal-Whiteway, Managing Director of Republic Bank Limited is on the Board of the Barbados operations; and Mr. Howell is a Director in Guyana.

“That gives us a tremendous competitive advantage,” De Souza said.


Source:
Barbados Advocate
Monday February 4, 2013

http://www.barbadosadvocate.com/newsitem.asp?more=business&NewsID=29054