Republic Bank group announces executive changes

THE managing director at Republic Bank Ltd will be identified as president and managing director, later this year, when the bank and its parent company – Republic Financial Holdings Ltd – implement title changes to their executive.

The two companies issued a joint notice on Tuesday announcing changes pursuant to Section 64(1)(B) of the Securities Act, which will come into effect on November 15.

Along with the president and managing director (MD) at Republic Bank, the title of executive director will be amended to vice president. It also announced the appointments of Parasram Salickram, Richard Sammy and Karen Yip Chuck as vice presidents. They are currently general managers of group risk, corporate and investment banking, and commercial and retail banking, respectively.

The notice did not say what will be status of the bank's executive directors Derwin Howell and Roopnarine Oumade Singh when the changes take effect.

At Republic Financial Holdings, the title of president and CEO will be amended to president, while a new title – group vice president will be introduced. Salickram, Sammy and Yip Chuck will also take up the positions of group vice presidents. Nigel Baptiste is currently the MD of the bank and president and CEO of the group.

Last September, Republic Financial Holdings chairman Vincent Pereira announced $1.3 billion in end-of-year profits for 2021 – an improvement of 44.7 per cent over the 2020 reported profits, with total assets standing at $109.2 billion.