President of BHP T&T, Vincent Pereira is designated to replace Ronald Harford as Chairman of the Board of Directors of Republic Bank Ltd and Republic Financial Holdings Ltd.
A statement said yesterday that after 57 years of service, the last 23 of which have been at the helm of the organisation, Ronald Harford will retire from the Board of Directors of Republic Bank Ltd and Republic Financial Holdings Ltd on December 31, 2019.
In 1997, Harford was appointed Managing Director of Republic Bank Ltd and led the transformation of the Bank from a primarily domestic institution to a global financial institution. In 2003, following the retirement of the Chairman, Frank Barsotti, Harford was appointed Chairman and the dual roles of Chairman and Managing Director. In 2005, he retired from his role of Managing Director and remained Chairman of the Group.
Harford also led the merger of Bank of Commerce T&T Ltd with Republic Bank Ltd in 1997 and the acquisitions of the Group’s operations in Grenada, Guyana, Barbados, Suriname, Ghana, and the Cayman Islands, as well as the intended purchase of the nine territories from Scotiabank.
Under his tenure the share price of the Group increased from $29 in 1997 to $120 in 2019.
Republic Financial Holdings Ltd (RFHL) and its subsidiaries have announced after-tax profit of $783.2 million for the nine month period ended March 31, 2019.