CMMB and FCB strong
The marriage between the Caribbean Money Market Brokers (CMMB) and the First Citizens Bank is going well. Thatâs according to Deputy Chief Executive Officer of First Citizen Bank, Sharon Christopher.{{more}}
Christopher was speaking at a press conference on Friday, November 27, 2009, at the Cobblestone Inn, to update the media on developments since the First Citizenâs Bank acquired CMMB on May 22, 2009, becoming a fully owned subsidiary of the bank.
Over 132 employees are employed by CMMB, 100 of whom were based in Trinidad.
Christopher said that the vision of the company is to be the most competitive financial group in Trinidad and Tobago, with a well-established presence internationally.
Christopher spoke about the hurdles the bank first faced when it was established back in 1993 and was ranked the worst performing bank in 1994. Within the space of 10 years, however, the bank moved past Scotia Bank in Trinidad and Tobago to become the third largest bank in assets and profits. First Citizens Bank was named bank of the year in 2005.
The State-owned First Citizens Group acquired the brokerage house, Caribbean Money Market Brokers (CMMB), as part of the agreement to bail out the cash-strapped CL Financial Group.
According to Christopher, it was always their intention to move out of Trinidad and expand. She noted that one of their main aims is to be known for service excellence, high innovation and sound cooperate governance.
The latest branch of CMMB was opened here in St Vincent in March 2009 and officially launched on June 16, 2009, with a team of three persons. (KW)
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