‘Great Opportunity’ – Guardian’s CEO On The Alignment Of Trinidad’s Guardian & Jamaica’s Largest Bank

In commenting on the alignment of two of the largest financial institutions in the Caribbean, both CEOs were equally optimistic. Ravi Tewari CEO of Guardian stated that the move is a very positive development and holds a great opportunity for shareholders, clients and employees; while NCB’s CEO Patrick Hylton reiterated that the merger was in line with their stated intentions to grow through mergers and acquisitions.

Private Sale

Jamaica’s leading bank, the National Commercial Bank has agreed to purchase a 29.99% stake in the leading Caribbean (Trinidad-based) insurance company. The transaction is being facilitated through a private sale of shares owned by Arthur Lok Jack and the Ahmed families and the International Finance Corporation (a private arm of the World Bank).  The two largest shareholders will still continue to own an estimated 22% in the company