Home Mortgage Bank appoints new board

In changes to the Home Mortgage Bank (HMB) board on June 7, six of its eight members, including its chairman, were replaced.

Former chairman Douglas Camacho’s replacement is yet to be named.

The new members, as listed on its website, are Calvin Bijou, Gregory Marchan, Jennifer Lutchman, Robert C Green, Richard Roper, Patrick Ferreira, and Anthony G Campbell.

Ferreira is also chairman of the National Insurance Board (NIB) chairman, of which the HMB is a subsidiary.

He has also been the centre of a political dispute. Activist Ravi Balgobin-Maharaj filed a judicial review application to seek a declaration that Finance Minister Colm Imbert’s choice was illegal. But a High Court judge dismissed this application last December.

In 2021 the board decided to effect a merger with the TT Mortgage Finance Co Ltd (TTMF), which was intended to achieve business synergies between HMB and TTMF, according to the TTMF website.

It added that the merger was expected to yield results in increased returns to the shareholders of each entity, improved service to customers and an enhanced entity for the benefit of employees and creditors.