CIBC FirstCaribbean announces executive changes

CIBC FirstCaribbean has announced changes to its senior executive team, subject to regulatory and governmental approvals.

Managing director of retail banking and small business, Rolf Phillips, has decided to take early retirement, and will leave the bank, effective immediately, the bank said in a release on Wednesday.

Daniel Farmer, the managing director of the Barbados business, has been appointed as the new managing director of retail banking and small business, replacing Phillips.

Mark St. Hill, the director of international wealth, has been appointed the new managing director of the bank’s Barbados business, replacing Farmer.

Chief executive officer Douglas 'Rik' Parkhill noted: “Rolf was a key player in the core team that launched CIBC FirstCaribbean’s international banking business in the region.”

Parkhill said Philips “has also led the residential business segment of CIBC FirstCaribbean’s retail business, and during his career with the bank, he also held senior roles as sales and performance director of wealth management and as managing director.”

Farmer joined FirstCaribbean International Bank in February 2010 as managing director for the Barbados operating company. He started his career in Barbados with Citicorp Merchant Bank Limited (Citigroup), managing the corporate bank in Barbados.

St. Hill has 20 years’ banking experience in various positions, spanning insurance broking, retail banking, corporate banking, credit risk, international banking and wealth management.

He has held several senior management positions in a number of countries in the Caribbean, including Grenada, British Virgin Islands and Barbados.

In other executive changes, Brian Lee has been named as the bank’s chief financial officer. He is expected to join the bank in December this year.

He comes to CIBC FirstCaribbean from CIBC’s head office in Toronto where he has worked since 2001, most recently as senior vice president and chief financial officer, corporate, finance.

Lee’s appointment came following the resignation of current chief financial officer Kiyomi Daniel, who leaves the bank after a decade of service.

Additionally, David Whitcroft has been appointed as CIBC FirstCaribbean’s new group treasurer. He replaces Richard Rice.

Whitcroft previously served National Australia Bank, Barclays and CIBC FirstCaribbean in a series of treasury roles since 1995.

He originally moved to the region in 2001 to work on the treasury integration project at the time of the Barclays and CIBC merger.

Most recently he has been director, offshore treasury and investments for CIBC FirstCaribbean.

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