NCB Financial Group Further Strengthens Group Governance

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NCB Financial Group Further Strengthens Group Governance

26 Mar 2024

Kingston, Jamaica – March 26, 2024: NCB Financial Group Limited (“NCBFG”), in keeping with its commitment to maintain and promote high standards of corporate governance, announces the following board changes at NCBFG and its banking subsidiary, National Commercial Bank Jamaica Limited (NCBJ):
  • Mr Gary Brown has been appointed Lead Independent Director and Audit Committee Chair of NCBFG, succeeding Professor the Hon. Alvin Wint OJ, CD, who recently retired from the board at the Annual General Meeting held in February 2024.   Mr Brown will also serve on the boards of group subsidiaries, National Commercial Bank Jamaica Limited (NCBJ) and NCB Capital Markets Limited.  He brings extensive banking and risk management experience gained over a long and distinguished career with large global financial institutions. 
  • Mrs Sandra Glasgow has resigned as a director of NCBFG; however, she will continue to serve as a director of group subsidiaries, NCBJ and Clarien Bank Limited.  
  • Mr Howard Shearer was appointed a director of NCBFG on March 13, 2024.  Born in Jamaica and currently serving as Chief Executive of Hitachi Canada, Mr Shearer brings extensive and world-class business leadership experience.
  • Mr John Bailey was appointed a director of NCBJ on February 21, 2024.  Mr Bailey is a profound business leader and entrepreneur, dedicated to Jamaica’s development. 
  • Mrs Sanya Goffe has resigned as a director of NCBJ but will continue to serve as a Director of NCBFG. 
In addition to these changes at NCBFG and NCBJ, the Group’s insurance subsidiary, Guardian Holdings Limited (GHL) has made a number of changes over the past year involving independent directors within GHL and its subsidiaries. Together, these changes expand the diversity of banking, insurance and international business experience, along with entrepreneurial spirit across NCBFG boards, which further strengthens governance across the group.
“NCBFG is committed to the highest standards of corporate governance, and this is a continuous journey,” said Hon. Michael Lee-Chin, O.J., Chairman of NCBFG.  
“We continuously strive to ensure that the governance structure of the group has the necessary independence, competency, structure, and culture to effectively discharge the duties of oversight and direction.  Rotations of directors are necessary to ensure that independence is maintained and that the boards possess the expertise and experience relevant to the times,” added Sanya Goffe, Chair of the Corporate Governance & Nomination Committee.  
The Board of NCBFG expresses gratitude to Directors Glasgow and Goffe for their significant past contributions and continuing service and looks forward to the incremental value that Directors Brown, Bailey and Shearer will bring to the governance of the group.  The evolution continues with the drive to attain Efficiency, Governance, and Customer Experience (EGC), across the group. 
About NCB Financial Group Limited

NCB Financial Group Limited (NCBFG) is one of the strongest financial powerhouses in the Caribbean, with a footprint in 20+ territories across the region. Through its subsidiaries, it offers an array of financial services including personal and commercial banking, wealth management and investments, life and general insurance, fintech and treasury & correspondent banking for individuals and companies. Incorporated in April 2016, NCBFG is the financial holding company for the Clarien Group Limited, NCB Global Holdings Limited, Guardian Holdings Limited, and National Commercial Bank Jamaica Limited (NCBJ), and NCBJ’s wholly owned subsidiaries NCB Capital Markets Limited, and NCB Insurance Agency and Fund Managers Limited (NCBIA). TFOB (2021) Limited, an NCBFG owned fintech company which introduced the Lynk mobile wallet, provides customers with convenient peer-to-peer transfers directly from mobile devices. 
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