PROVEN Bank has appointed Stacy Belnavis as its new president and Chief Executive Officer (CEO). 

“Stacy will lead the banking operations in the Cayman Islands and Saint Lucia, driving our strategic vision for growth and transformation in the Caribbean,” Proven said in a release announcing the appointment.

Belnavis brings over 20 years of experience in strategic business development, treasury management, agile project management and marketing throughout the Caribbean. 

“Stacy’s leadership and experience in transforming businesses through technology, collaboration, and a customer-focused approach, make her the ideal fit for Proven Bank at this exciting stage of our journey,” said Johann Heaven, Deputy Chief Executive Officer at Proven Group.

Before joining Proven Bank, Belnavis’s professional journey began at Citibank where she spent 17 years and held various positions. Additionally, Belnavis spent seven years at CIBC Caribbean, where she pioneered digital banking initiatives that merged technology with retail banking, significantly enhancing client acquisition, product development, and brand visibility. With a strong background in finance, leadership, business development, and communication, combined with her deep knowledge of the Caribbean landscape, Belnavis will be instrumental in driving the continued success of Proven Bank.

“Stacy’s pan-Caribbean experience and training, perfectly positions her to continue the work of developing innovative financial solutions for both our individual and corporate clients,” said Garfield Sinclair, Proven Bank Chairman. 

Belnavis holds an MBA in Global Leadership from the University of Liverpool and a BSc in Economics and Finance from the University of the West Indies. Proven said her transformational leadership style is characterized by a commitment to innovation, excellence, and team empowerment. She is also passionate about supporting local talent, with a keen interest in the culinary arts and fashion. 

Proven said that her appointment will facilitate a refocus on Proven’s core financial competencies of banking and wealth management. The strategy is to consolidate wealth management (including financial advisory) into Proven Bank (Cayman) Limited, subject to regulatory approval.

Additionally, the Group has taken the decision to exit its small financial advisory businesses in Bermuda and the British Virgin Islands, which never fully recovered from the impact of COVID, and instead concentrate on territories where it has significant operational presence, namely Cayman, St Lucia, Jamaica, and Barbados. 

Proven has also commenced the process of consolidating all financial services onto one technology platform, and this should be completed in the first half of 2025. 

“I am excited to lead the talented team here at PROVEN Bank and look forward to building on the Bank’s strong foundation and ambitious goals,” said Stacy Belnavis. “Additionally, there will be intentional focus on group-wide collaboration to deliver returns to our shareholders.”