The chairman and the board of Directors of the First Citizens Group has announced in a news release that Larry Nath was appointed to the position of Group CEO effective Monday November 12. The position of Group CEO became vacant when Larry Howai agreed to serve at a higher level and accepted the appointment as the Minister of Finance and the Economy on June 22 this year.
The position of Group CEO was advertised and Nath, who was appointed to act in the position, was part of a recruitment process that included well over 70 applicants, the news release said.
Nyree Alfonso, chairman of the board, stated that "it was an extremely intensive process, but we are satisfied that at the end of it, the person best suited for the job was selected. It was encouraging to witness the level of interest in the position and this speaks volumes about the Group's reputation and success over the years."
Nath joined First Citizens as deputy chief executive Officer – Banking Operations in June 2011. His career has given him a wealth of experience at senior levels in commercial, corporate and energy-sector banking. He currently serves on the board of St Lucia Electricity Services Co. Ltd as well as other Boards of several subsidiaries within the First Citizens Group.
Under Nath's stewardship the Group will continue to commit to the delivery of excellent customer service and to build on its reputation of being one of the safest and highest rated financial institutions in the English-speaking Caribbean, the release said.
The board, the executive, senior management, management and staff have congratulated Nath and have wished him success in his new role as Group CEO. They are confident that he will take the First Citizens Group to new levels of success, the release said.