David Ritch has been appointed non-executive chairman of CIBC FirstCaribbean International Bank by the organization board of directors.
The appointment took effect from 13th December 2013 and follows the retirement of Michael Mansoor as Executive Chairman on 31st October 2013.
Mansoor has been re-appointed to the Board effective 12th December 2013.
Ritch is an attorney who has practised law for over 30 years. He studied at the University of the West Indies at Cave Hill, Barbados, and went on to qualify as an English Barrister-at-Law in London, England.
He was called to the Bar by the Honourable Society of the Inner Temple in 1976.
Ritch has worked in the Cayman Islands as clerk of the courts, crown counsel and eventually senior crown counsel and served on a number of government statutory boards in the Cayman Islands
He is the current Chairman of the Board of Directors of Caribbean Utilities Company, Ltd., a publicly traded company listed on the Toronto Stock Exchange and the sole provider of electricity on the Island of Grand Cayman.
He joined the Boards of FirstCaribbean International Bank Limited and its subsidiary FirstCaribbean International Bank (Cayman) Limited in 2002 and sits on several of the Bank’s committees including the Audit and Governance Committee.
The Board has also announced the appointment of Mr. Brian McDonough as its newest director, to replace resigning director Mr. Brian O’Donnell.
McDonough is currently Executive Vice-President, Wholesale Credit and Investment Risk Management, at the bank’s parent company, CIBC.
He leads CIBC’s Corporate and Commercial Adjudication globally and is responsible for assessment, adjudication and monitoring of credit risk in Wholesale Banking and Commercial Banking for CIBC.
McDonough joined CIBC in 1983, has held various senior positions in Risk Management, and was appointed to his current position in July 2008.
CIBC FirstCaribbean was formed in 2002 as a merger of the Caribbean operations of CIBC and Barclays Bank.