Regional financier FirstCaribbean International Bank Limited has announced the appointment of Mark St Hill as its next chief executive officer (CEO), subject to regulatory approval.

In a statement, CIBC FirstCaribbean disclosed that St Hill assumes the post on November 1, 2022, with the retirement of the bank’s current CEO Colette Delaney.

In making the announcement, chair of the board of directors, David Ritch, noted, “We are proud to appoint the first Caribbean national to hold the post of CIBC FirstCaribbean’s chief executive officer. With Mark taking the CEO’s chair it marks the fourth consecutive appointment of a regional person to an executive role, which is a reflection of our focus on recognising and developing regional talent.”

“Mark brings to the post 32 years of practical and technical experience in banking having worked his way through the ranks from the post of teller. Most recently, he has driven the execution of our bank’s digitalisation strategy. He is perfectly positioned to lead the bank at this time of transformation within the financial services industry. Like his predecessor, Colette Delaney, he is an expert in one of the key pillars of our strategy – developing relationships, whether it be with our clients, our employees, or our suppliers,” Ritch added.

Mark St Hill has served the bank in various positions spanning insurance brokerage, retail banking, corporate banking, credit risk, international banking and wealth management.

St Hill has also held senior management positions in several countries in the Caribbean such as the Bahamas, Grenada, British Virgin Islands and Barbados. In addition, he sits on a number of the boards of the bank’s operating companies and is a trustee of the FirstCaribbean International ComTrust Foundation, the bank’s charitable foundation.

A fellow of the British Institute of Chartered Secretaries and Administrators, the company indicated that St Hill is a graduate of the FirstCaribbean Executive Leadership Program with Wharton Business School and has recently completed the Masters Certificate Program in Financial Services Leadership in conjunction with Schulich School of Business and CIBC. He is also the president of the Barbados Hockey Federation.

His appointment comes as the bank prepares to say farewell to Delaney, its CEO of the past four years, who assumed the role on November 1, 2018.

Delaney joined CIBC FirstCaribbean in 2013, and among other roles, she has served as the bank’s chief risk and administrative officer. She was appointed chief operating officer with effect from December 8, 2017 and is a member of the board of CIBC FirstCaribbean International Bank. She also served as FirstCaribbean International ComTrust Foundation chair.

“Colette’s appointment as chief executive officer, the first woman to be appointed to the role, was a landmark in the bank’s history. She brought to her tenure as CEO the steady hand that the bank needed during the past two years as we struggled with the COVID-19 pandemic and its effect on our region. Her ability to reassure both employees and clients of the bank’s stability and support helped to assuage the concerns of our various stakeholders during a testing period.”

The bank also announced the retirement of Dan Wright, managing director of wealth management, effective February 28, 2023.

Wright joined CIBC FirstCaribbean in December 2012 as director of private wealth management.

Pim van der Burg, FCIB’s managing director of corporate and investment banking, will assume responsibility for the wealth portfolio effective September 5, 2022. The two executives will work together on transition activities until Wright’s retirement.

The bank’s subsidiary, FirstCaribbean International Bank (Barbados) Limited, has also stated that it will cease operations in Dominica on January 31, 2023.

The bank indicated it will start contacting its clients in Dominica within the coming days, to advise of timelines for its withdrawal from Dominica and what clients need to do ahead of the closure date.

Outgoing CEO Delaney thanked the bank’s staff and clients in Dominica for their years of loyalty to the bank.