Lo­cal fi­nan­cial ex­ec­u­tive An­gus Young has been ap­point­ed as new CEO of NCB Cap­i­tal Mar­kets (NCBCM), which is the par­ent of the NCB Mer­chant Bank (Trinidad and To­ba­go), the lo­cal non-bank fi­nan­cial in­sti­tu­tion and bro­ker-deal­er.

Young is the broth­er of Min­is­ter of En­er­gy Stu­art Young, and the son of Richard Young, the chair­man of the TTIFC.

In a state­ment on Mon­day, NCB Fi­nan­cial Group em­pha­sised Young’s wealth of ex­pe­ri­ence and ex­per­tise in the fi­nan­cial in­dus­try, cit­ing his nu­mer­ous lead­er­ship roles re­gion­al­ly and with­in the or­gan­i­sa­tion.

Young re­placed Steven Good­en, who re­signed as CEO of NCBCM ef­fec­tive Sep­tem­ber 30.

Young start­ed with NCB in 2014 when he as­sumed the role of CEO of NCB Mer­chant Bank (Trinidad and To­ba­go) Ltd, ac­cord­ing to his LinkedIn pro­file.

In 2018, he was al­so ap­point­ed re­gion­al head of In­vest­ment Bank­ing at NCBCM and main­tained dual roles un­til his ap­point­ment as ex­ec­u­tive vice pres­i­dent—Re­gion­al In­vest­ment Bank­ing and New Mar­kets at NCBCM in Ju­ly 2022.

Be­fore join­ing the NCB Group, Young worked at the RBTT Mer­chant Bank as an as­sis­tant vice pres­i­dent of cap­i­tal mar­ket orig­i­na­tion and as the man­ag­ing di­rec­tor of BDO Fi­nan­cial Ad­vi­so­ry Ser­vices.

Young ex­pressed en­thu­si­asm about his new ap­point­ment, stat­ing that he was ea­ger to de­liv­er on the com­pa­ny’s com­mit­ment to em­pow­er its clients to un­lock their fi­nan­cial as­pi­ra­tions.

“Our aim is to fos­ter the growth and di­ver­si­fi­ca­tion of our clients’ port­fo­lios by lever­ag­ing our ver­ti­cal­ly in­te­grat­ed mod­el which starts with the man­u­fac­tur­ing of as­sets by our in­vest­ment bankers, and giv­ing our clients ac­cess to these op­por­tu­ni­ties on­ly af­ter they are sub­ject to our sol­id gov­er­nance and risk man­age­ment frame­works. This ac­cess in­cor­po­rates a wide range of ser­vices and so­lu­tions, de­liv­er­ing an all-en­com­pass­ing wealth man­age­ment ex­pe­ri­ence. We are em­bark­ing on an ex­cit­ing jour­ney to make this vi­sion a re­al­i­ty. Our aim is to equip our clients with the tools, ex­per­tise, and guid­ance they need to nav­i­gate the com­plex­i­ties of wealth man­age­ment con­fi­dent­ly,” said the new CEO, ac­cord­ing to an our.to­day Ja­maica sto­ry.

Al­so re­sign­ing from NCBFG last week was Sep­ti­mus Blake, the for­mer CEO of Na­tion­al Com­mer­cial Bank Ja­maica (NCBJ).

In an in­ter­view with the Guardian last week, NCBFG chair­man Michael Lee-Chin ex­plained that the de­par­tures of Blake and Good­en were as a re­sult of NCBFG de­cid­ing to “de­lay­er” the group, which he de­scribed as a trans­for­ma­tion­al ini­tia­tive de­signed to bring the com­pa­ny and its sub­sidiaries clos­er to its cus­tomers.

“Some­times stars align as com­pa­nies pe­ri­od­i­cal­ly change their bear­ings and peo­ple may want to go on to do oth­er things ... We did not push out any­one,” said Lee-Chin.

He said that si­mul­ta­ne­ous with the de­lay­er­ing of the group, a de­ci­sion had been tak­en to hive off the wealth man­age­ment busi­ness from NCB Cap­i­tal Mar­kets.

“We are putting wealth man­age­ment on its own with an in­de­pen­dent fo­cus and its own growth tra­jec­to­ry.”

Asked whether NCBFG had come to a set­tle­ment with Hyl­ton and Co­hen, Lee-Chin said that that was “a work in progress”.

In its no­tices, NCBFG said it ap­pre­ci­at­ed the con­tri­bu­tions of Blake and Good­en.