New boss at NCB
April 22, 2005
New boss at NCB

There is a new CEO at the National Commercial Bank.

Trinidadian national Phillip Hernandez has replaced his fellow national Mario Young who completed his three month stint and returned to the First Citizen’s Bank (FCB) from which both men were seconded.{{more}}

The NCB said in a release that both Young and Hernandez are part of “a team continuing the process of restructuring” on which the NCB has embarked.

SEARCHLIGHT last January 14 carried a story in which we noted the frequent management changes at the troubled NCB. We interviewed both the chairman of the institution Desmond Morgan and then CEO Mario Young who said that the bank’s main goal was institutional strengthening to put the NCB on a path to become more efficient and deliver a better product.

We raised the question of a possible take over of the NCB by First Citizen’s Bank (FCB) then. The chairman responded that, though several offers had been made by banks in the region, NCB had to ensure that “its house was in order first… so in the event the opportunity came to bargain the bank could speak real numbers”.

So, while NCB and FCB are not at the stage of a take over, the Trinidadian institution, which was once the national bank of the twin-island republic, is continuing to assist the NCB put its house in order.

Chairman Morgan told us in January that the NCB was “financially sound with a 46 per cent stake on the domestic market”. He however said that the government would “set the tone in the direction they want to go in terms of strategic alliance”.

The new CEO, like his predecessor, comes to the job with a wealth of experience.

Hernandez is described as a career banker who has served at various institutions including the Bank of Nova Scotia Trinidad and Tobago Ltd and First Citizen’s Bank Limited as a Senior Executive for over forty (40) years. He is not new to the NCB where he recently served as a Consultant -Credit Administration.

The NCB release says he held a number of senior posts such as as Branch Manager, Bank of Nova Scotia T & T Ltd., General Manager, Trust & Merchant Bank and General Manager of Credit. He then served at First Citizen’s Bank (FCB) as Senior Corporate Manager in charge of Credit Administration, General Manager -Credit & Risk Management and acted as Chief Executive Officer of the former Merchant Bank Limited, part of the FCB Group.

The NCB has seen a number of internal changes recently as this “a partnership of co-operation and assistance” with the FCB continues.