Business

Regional banking group First Caribbean has appointed Nigel Holness as replacement for Clovis Metcalfe to run its Jamaican operations.

Holness' appointment as managing director of First Caribbean International Bank Jamaica Limited officially takes effect in September 1, allowing for a four-month transition to December 31, when Metcalfe is expected to go into retirement.

The bank said, however, that his appointment is subject to regulatory approval.

Holness, who joined the New Kingston-based bank as a customer-service representative, is currently a Treasury officer. The bank said he now serves as the Jamaica country treasurer, a member of the Jamaica Country Management Committee, and was recently appointed to the Jamaica Pension Management Committee.

In late April, First Caribbean International announced that Metcalfe was to retire but then gave no date; neither was a replacement named.

Metcalfe, a 36-year banking veteran, was appointed to the post of managing director in January 2009, replacing Milton Brady who was promoted and moved to the Barbados head office in November 2008.

Holness has been with the bank for 22 years, since 1988, working his way up from customer-service rep to serve in different positions in retail banking, and later, within the capital markets unit, where he specialised in foreign exchange and soft-currency liquidity in both Jamaica and Barbados.

"Nigel has already served our bank with distinction," said Michael Mansoor, the chairman of both First Caribbean International and First Caribbean Jamaica.

"As we continue to roll out our bank's strategic vision for the development of this region, we look forward to his contribution and congratulate him on his new appointment," Mansoor said in a bank-issued statement.

Metcalfe will continue to serve the institution in a consultative capacity and as a non-executive director of the company, First Caribbean said.

business@gleanerjm.com