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Published:Thursday | November 19, 2015 | 9:45 AM
Oliver Holmes
Dr Warren Smith

New chairman for Carreras

Oliver Holmes, a near eight-year member of the Carreras board, has been appointed as its new chairman.

Holmes was first appointed to the board of the cigarette company in February 2007 as an external director. He takes a vacancy created by the resignation of Trinidadian Richard Lewis, who was chairman from July 2011.

Holmes operates his own financial business, an advisory firm called Capital Options, which he founded in 1997. Before that he worked with the former Manufacturer's Merchant and the Jamaican operations of Citibank. His expertise is in accounting, the qualifications for which he secured at the University of the West Indies.

Holmes' appointment as Carreras' chairman took effect on November 12.

Smith re-elected CDB president

Dr Warren Smith has been re-elected president of the Caribbean Development Bank (CDB) to serve a second five-year term.

His new term officially begins on May 1, 2016.

Smith was first elected president in 2010 and assumed office on May 1, 2011.

"At that time, many of the bank's borrowing member countries were dealing with a myriad of highly complex development problems made more acute by the Great Recession of 2008. It was evident that recovery would require extraordinary effort informed by new thinking and approaches to Caribbean development," the CDB said in the statement.

Under Smith's direction, the CDB actively promoted private sector-led growth and stability by assisting borrowing members to design, finance and implement robust macro-economic programmes. The bank has also been promoting improved competitiveness through energy diversification.

Smith said his next term would maintain focus on "strengthening economic and environmental resilience to safeguard growth, while driving down poverty in Caribbean countries will remain paramount".