Patrick Hylton has replaced Michael Lee-Chin as chairman of the National Commercial Bank of Jamaica’s (NCBJ) Board, effective November 30, according to a release from the company.
Hylton assumes the post in addition to his continued role as president and CEO of NCBJ.
Meanwhile, Lee-Chin, who founded the company and steered its growth towards becoming a trillion dollar company, will continue to be the chairman of the National Commercial Bank Financial Group (NCBFG), the holding company of NCBJ.
“We continue to review the structure of our boards and leadership team to enhance our corporate governance and leadership framework within the context of becoming a multinational group…”– NCB
Other changes announced by the company includes the resignation of businesswoman Thalia Lyn as a director of NCBJ. However, Lyn will continue in her role as an NCBFG director and Chair of the NCB Foundation.
Oliver Mitchell Jr also resigned from the board of NCBJ but will continue as a director of NCBFG.
In a statement, the company said “We continue to review the structure of our boards and leadership team to enhance our corporate governance and leadership framework within the context of becoming a multinational group following the acquisition of a majority interest in Clarien Bank Limited and Guardian Holdings Limited.”
The NCBFG reported earnings of J$30.7 billion for its financial year ended September 30, and assets amounting to J$1.6 trillion.