Wed | Jan 22, 2020

Hylton takes over chairmanship of commercial bank NCB

Published:Wednesday | December 4, 2019 | 12:21 AM
Patrick Hylton, CEO of NCB Financial Group and new chairman of commercial banking subsidiary NCBJ.
Patrick Hylton, CEO of NCB Financial Group and new chairman of commercial banking subsidiary NCBJ.

Patrick Hylton has taken over as chairman of National Commercial Bank Jamaica Limited, NCBJ, the flagship company in the NCB Financial Group.

Hylton, who is also president and CEO of NCB Financial Group Limited, replaces Michael Lee-Chin as chairman of the commercial bank.

Lee-Chin, who is the principal owner of NCB Financial Group, will remain on the commercial bank’s board as a director, and will also remain chairman of the parent company and Jamaica’s top banking conglomerate NCB Financial Group, whose assets now top $1.6 trillion.

“We continue to review the structure of our boards and leadership team to enhance our corporate governance and leadership framework within the context of becoming a multinational group following the acquisition of a majority interest in Clarien Bank Limited and Guardian Holdings Limited,” NCB Financial said in a statement on Tuesday.

The board changes, which took effect on November 30, also saw the resignations of Thalia Lyn and Oliver Mitchell as directors of NCBJ. However, both retain their seats on the NCB Financial board; and Lyn also remains chairman of NCB Foundation.

business@gleanerjm.com