Wednesday, February 21, 2018

Mottley new UTC chairman


EX-MINISTER: Wendell Mottley

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Former finance minister Wendell Mottley is the new chairman of the Unit Trust Corporation (UTC).

In a statement yesterday, the corporation said he will replace Amoy Chang Fong, whose eight-year tenure came to an end on December 31.

Mottley served as Minister of Finance from 1991-1995 under the PNM government and was most recently based in New York as managing director and senior adviser at investment banking firm Credit Suisse, from which he retired in December 2011.

He is also a double Olympic medallist, claiming silver and bronze at the 1964 Summer Olympic Games in Tokyo.

Mottley has economics degrees from Yale University and Cambridge.

Chang Fong is a former deputy governor of the Central Bank and also a member of the first UTC board in 1982.

In a brief telephone interview with the Express yesterday, Chang Fong said she planned to spend her retirement "doing nothing".

"It's about time. I've had one of the longest tenures as chairman in the corporation's history and it's time to get new ideas and fresh blood in. I have no problem with retirement and after more than 40 years of working, I need a rest," she said.

She said she was content with her time at the corporation, and while she did not like to consider the term "legacy", she felt she was able to bring stability and level-headedness to the UTC, especially guiding it through the turbulent economic years during the global financial crisis.

"It's been interesting and I feel honoured to have been involved in such a financial stalwart in the country and made a difference in encouraging and educating the public about investment," she said.

The corporation in its statement thanked Chang Fong for her contributions to the growth and development of the Unit Trust Corporation during her tenure. —Carla Bridglal