Big jobs for Holder Top CLICO, CL posts for ex-Unit Trust exec
Curtis Rampersad Business Editor
Personnel changes at the highest levels of cash-poor insurance company CLICO and its parent company, CL Financial, continued yesterday, this time with former Unit Trust executive Marlon Holder being appointed to fill two major positions.
Holder, 51, is now the chairman of Port of Spain-based CLICO.
He was announced as the new chairman even as former Central Bank governor Dr Euric Bobb announced he was resigning as chairman of CLICO, the country’s largest insurer.
Holder, who said his resignation as executive director of the UTC takes effect next Friday, was also announced as the new managing director and group CEO of CL Financial during a press briefing at the Central Bank tower in Port of Spain yesterday.
He succeeds former banking group Citi executive Steve Bideshi, who resigned earlier this year.
‘welcome’: Central Bank Governor Ewart Williams, left, greets new CLICO chairman Marlon Holder, right, along with CL chairman Dr Shafeek Sultan-Khan at the Central Bank tower, Port of Spain, yesterday. -Photo: Jermaine Cruickshank
A replacement for Holder at the UTC has not been announced.
Former CEO at CLICO Claude Musaib-Ali also resigned from the company earlier this year.
Central Bank Governor Ewart Williams said Bobb’s resignation came with a ’significant amount of regret’ as he had brought ’instant credibility’ and was on board since the inception of the financial restructuring of CLICO and CL Financial.
Williams said Bobb’s responsibilities turned out to be far more demanding than was first envisaged and he initially did not expect to have to leave his Washington, DC, home as much as he eventually had to.
Bobb told reporters he was resigning for his ’own reasons’ and noted that he had retired four years ago.
He said he found himself working long hours, even as chairman.
Holder said of his appointment: ’My prime objective in this new position is to restore confidence in the CL Financial Group in the shortest possible timeframe.’
CL chairman Dr Shafeek Sultan-Khan said the board was preparing a report on the state of the group and its progress and expected to deliver its shortly to Government and CL shareholders.
Holder’s appointments at CLICO and CL Financial take immediate effect. (Trinidad Express)