Dec 2014 Financial News

Resignation of First Citizens Group CEO

Dec 05, 2014

The Chairman and Board of Directors of the First Citizens Group have accepted the resignation of Group Chief Executive Officer (CEO), Larry Nath.

Mr. Nath, who joined the Bank in 2011 as Deputy Chief Executive Officer, Banking Operations, took over the position of Group CEO in 2012.

Mr. Nath has cited his desire to further his career opportunities as the reason for his resignation.

Chairman of First Citizens, Anthony Smart has been appointed by the Board to function as Executive Chairman of the Bank, subject to regulatory approvals, with immediate effect and for a period of up to six months. He will take over the ultimate responsibility for the day-to-day operations of First Citizens.

The Board says recruitment of a permanent Group CEO will take place during the six-month period of Mr. Smart’s tenure as Executive Chairman. To lend support to Mr. Smart during the transition is retired banker, Mr. Steve Bideshi. Mr. Bideshi has been hired by the Board as a consultant to the Executive Chairman.

The Chairman thanks Mr. Nath for his services during his period of employment and wishes him best regards in the future.

“I have every confidence in the executive, management and staff at First Citizens who have delivered strong financials for the year to the benefit of all stakeholders. My number one priority is to ensure that we recruit a new CEO to lead this prestigious organization and build on its solid foundation,” said Mr. Smart.

Dexter Charles
Manager – Group Corporate Communications
December 4, 2014

Source:
The Trinidad and Tobago Stock Exchange Limited
Friday December 5, 2014