CIBC FirstCaribbean International Bank has a new CEO. Monday, September 12, was the first official day on the job for the company’s new leader, Douglas “Rik” Parkhill.{{more}} Parkhill took over the running of the region’s pre-eminent financial services institution from John Orr, who has returned to CIBC in Toronto.

Michael Mansoor, Chairman of FirstCaribbean International Bank, first announced Parkhill’s appointment in May this year. Parkhill joins CIBC FirstCaribbean from its parent company CIBC, where, in his most recent assignment, he was the Managing Director and Global Head of CIBC’s Capital Markets Sales and Cash Equities in that company’s Wholesale Banking unit, based in Toronto.

Rik Parkhill has more than 20 years of experience in the global financial services industry, serving clients in Canada and around the world. Before joining CIBC in 2008, he was co-CEO of the Toronto Stock Exchange.

Michael Mansoor described Parkhill as “a seasoned financial services executive – known as a skilled leader, and for having a strong employee and client focus”. Mansoor added: “He has the right combination of leadership and industry experience to lead our bank at the current stage of our company’s development and in the present economic environment.”

He also described Parkhill as someone with the correct combination of “global financial services experience and leadership capabilities to make him an ideal successor for the CEO position at CIBC FirstCaribbean.”

Parkhill notes that he is eager to get to know the region and immerse himself in the culture of doing business in the Caribbean. He lists as among his priorities visiting as many of the bank’s clients, partners and employees as he can in the coming weeks.

He added: “despite the ongoing challenges facing the economies of the region, and indeed the world, there is still considerable scope for growth for our company. We intend to position ourselves to work alongside our clients to ensure they in turn are positioned to take advantage of the opportunities that are sure to present themselves as the recovery of the world economy progresses. It’s an interesting and exciting time to be here”.

Parkhill is based at the company’s headquarters in Barbados.