Wednesday, December 2, 2009

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In the futures market By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com: ONE of The Bahamas' most respected bankers has spoken of challenges facing her industry as she prepares to take on a new challenge herself. Sharon Brown told today of her excitement at becoming a director and deputy chairman of the board at FirstCaribbean International Bank as she prepares to step down from the role of managing director. Her upcoming retirement will mark a milestone in a 34-year career which has seen her win a host of awards and earn the top spot at the bank. However Brown said that as one chapter closed another was just beginning for her on the bank's board, plus providing consultancy services to the bank until next year. Brown said: "I am confident that I've left a team in place to meet the challenges ahead. These are challenging times for the banking industry as a whole and The Bahamas. "Factors in our global market continue to impact our economies. However, I believe that our strategies are solid, our staff committed and our customers loyal, which will continue to help us weather the many challenges that are ahead." "I'm happy to have always had, an excellent and very supportive team to work with. Over the years we have accomplished a lot together and I know I was able to be successful because I had a great team supporting me." Brown has had an illustrious banking career that spans over 34 years in the financial services industry. Twelve of those years were spent at the Central Bank of The Bahamas, where she last served as Manager of the Exchange Control Department. In April of 1987, she joined the then Barclays Bank PLC and served in various leadership capacities, including Risk Management, and Credit and Corporate, culminating her 15-year tenure with the bank as Regional Corporate Director and Senior Bahamas Executive. After Barclays and CIBC merged in 2002, Brown was appointed Executive Director Corporate Banking of the newly formed FirstCaribbean International Bank (Bahamas) Ltd. Brown's business acumen propelled her into the top spot at the helm of a new bank as Managing Director, with responsibility for the bank's operations in The Bahamas and the Turks and Caicos Islands, with a staff of 838 persons. She has won a number of personal awards, culminating with her being named the Bahamas Financial Services Board's Executive of the Year in 2008, the highest such honor in banking in The Bahamas. Ms Brown cited one of her proudest moments as being the successful integration of the two "heritage" organizations. Another proud moment for her is FirstCaribbean Bahamas' achievement of several significant and international milestones. In 2006, 2007, and 2008, FirstCaribbean won The Banker Award for The Bahamas, a top-tier award for financial services institutions issued by the Financial Times of the United Kingdom. In 2007, the bank also won the Euromoney Bank of the Year Award for The Bahamas. Ms Brown said: "I think back with much gratitude for the many opportunities that has been afforded to me throughout my career. Personally, I am pleased that my relationship with FirstCaribbean will continue beyond retirement and I look forward to working and assisting the bank as a Director and Deputy Chairman of the Board." Thursday, November 19, 2009