WHO WE ARE

First Global Bank Limited (FGB) is one of six commercial banks operating in Jamaica, originating in 1970 as The First National Bank of Chicago (Jamaica) Limited. That organization later changed ownership and was renamed First Jamaica National Bank Limited. That institution was acquired on March 26, 1993, as a joint venture between Trafalgar Development Bank with 51% of the shareholdings and Grace Kennedy & Co. Ltd. (since renamed GraceKennedy Limited) having 49% of the shareholdings. It was then renamed Trafalgar Commercial Bank Limited (TCB).

GraceKennedy Ltd. thereafter acquired Trafalgar Development Bank’s shares on November 3, 2000, making TCB a wholly-owned subsidiary of GraceKennedy. Trafalgar Commercial Bank was thereafter renamed First Global Bank Limited on January 1, 2002, offering local and international clients, one of the widest array of banking products and services available under one roof.

Over the years, FGB has developed the reputation of redefining the banking experience through its commitment to providing cutting-edge financial solutions with the high standard of customer service delivery that the institution is known for.

Today, FGB enjoys the distinction of being the most profitable subsidiary within the GraceKennedy group of companies. With an asset base of approximately J$22.5 billion; FGB earned pre-tax profits of J$511.4 million for the year ended December 31, 2006. A well-executed strategy of product expansion and enhanced process efficiencies has spelt growth and increased profitability for the bank.

In 2007, First Global Bank opened two additional branches, bringing its total island wide branch complement to five. FGB opened its first branch in the mid-island town of Mandeville, as well as a third branch in the Liguanea area of the capital. First Global Bank’s other branches are located in New Kingston, Manor Park and Montego Bay.

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RISK MANAGEMENT AND COMPLIANCE

One of the core objectives of First Global Bank is to achieve 100% compliance with all applicable laws and regulations. Our board of directors bears overall responsibility for risk management. Through the establishment and communication of acceptable levels of risk, the board also ensures that the necessary systems are put in place to regularly monitor and report those risks.

Asset and liability management is an integral part of overall bank management and, therefore, it is essential to have a structured and systematic process for managing the institution’s balance sheet.

In order to effectively administer the asset and liability management function, FGB has an Asset & Liability Committee (ALCO) which is designated to ensure the continued maintenance of adequate liquidity, sufficient capital to meet regulatory and business needs, and appropriate funding to achieve the growth objectives of the bank. The Committee also recommends pricing, investment funding and marketing strategies to achieve the desired trade-off between risk and expected return.

Finally, in order to maintain and increase the expansion in shareholder value, and in keeping with good corporate governance practices, FGB also has a Risk Management and Compliance Unit. The unit is responsible for the management of all types of risks and ensures through independent oversight, that risks are identified, assessed, mitigated and reported within the established risk management framework; and that it remains within the risk appetite boundaries approved by the company’s board of directors. First Global Bank is now in the process of implementing an Enterprise Risk Management (ERM) framework and this unit is leading that process.

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BANKING SOLUTIONS

First Global Bank is a comprehensive provider of first-rate banking products and services. The company’s suite of options includes:

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OUR PEOPLE

The driving force behind any successful organization is its people. First Global Bank seeks to foster a culture of excellence in all of its endeavours; excellence in customer service, product innovation and how we treat our people. The organization’s human resource (HR) and development practices have been nationally recognized by the Human Resource Management Association of Jamaica.

The FGB team is comprised of individuals that are amongst the brightest and most experienced in the industry. Customer service representatives and a team of support staff in the areas of marketing, human resources, financial control, e-business, information technology and risk management and compliance, are guided by an astute team of senior managers and executives who oversee the operations of the bank.

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OUR MISSION

FGB's driving force is aptly coined in its mission statement. "We will consistently create value for our customers through innovative products and services that satisfy their banking needs."

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BOARD OF DIRECTORS

First Global Bank’s board of directors is drawn from various industries throughout Jamaica. The directors are responsible for guiding the strategic focus of the organization, using their collective experiences and wealth of ideas.

Mr. Douglas Orane - Chairman
Mr. Orane is the Chairman and CEO of GraceKennedy Limited. He is a graduate of Harvard Business School with a Masters in Business Administration, as a Baker Scholar. He holds a Bachelor of Science (Hons.) degree in Mechanical Engineering from Glasgow University. Mr. Orane served as a president of the Private Sector Organizations of Jamaica from 1992 –1994. He was also an Independent Senator, Government of Jamaica from January 1998 to October 2002. He holds directorship on the board of a number of major Jamaican companies.
Mr. Orane is also the recipient of one of Jamaica’s highest national awards, the Order of Distinction (Commander Class) for his contribution to commerce.

G. Raymond Chang
Mr. Chang is Chairman of and a major shareholder in CI Fund Management Inc. During his period of association, the company has grown from a small money manager with CAD$5 million in assets to becoming Canada’s second largest investment fund company with more than CAD$62 billion in fee generating assets. Mr. Chang, a Chartered Accountant, holds the Chartered Financial Analyst (CFA) designation and a Bachelor of Applied Science Degree from the University of Toronto.

Joseph Issa
Mr. Issa is a business executive and a major shareholder in Cool Oasis. Mr. Issa has had a long association with Jamaica’s tourism product and is a director of the St. Ann Chamber of Commerce. Mr. Issa is the recipient of a number of honours including Young Hotelier for 1994, 1997 and 1998; and was named by the Travel Agent Magazine as one of its 100 Rising Stars. Mr. Issa is also a Justice of the Peace.

Brian Jardim
Mr. Jardim is a partner in the bar and grill chain Margueritaville and the owner of Rainforest Seafoods, the largest seafood supplier in Jamaica. He is a graduate of the University of Florida with a Bachelors degree in Business Administration and a Masters degree in Accounting.

Anthony Lindo
Mr. Lindo is a director of the House of Issa, a conglomerate of motor car, clothing and hotel operations. Also a career banker, he spent 41 years at the Bank of Nova Scotia Jamaica Limited, ascending to the post of Managing Director. Mr. Lindo also heads First Global Bank’s Credit Committee.

Beverley Lopez
Ms. Lopez is the Managing Director of Kingston Hub Distributors, a company involved in the manufacture and distribution of Catherine’s Peak Bottled Water and Real Rock Beer, among other products. She is also the immediate past president of the Private Sector Organization of Jamaica and holds directorship in a number of major local companies.

Milverton Reynolds
Mr. Reynolds is the Chief Executive Officer of the Development Bank of Jamaica. He has also served as President and Chief Executive Officer of the Jamaica Mortgage Bank, the National Housing Development Corporation (NHDC), Life of Jamaica, and as Managing Director of the National Housing Trust (NHT) a local statutory corporation. Mr. Reynolds holds a Bachelor of Science Degree in Management Studies from the University of the West Indies and a Masters in Business Administration from McGill University.

Rema Spence Dunn - Corporate Secretary
Mrs. Spence-Dunn currently occupies the position of Corporate Secretary, First Global Bank, as well as Resident Corporate Secretary for the GK Investments Division of GraceKennedy Limited. She joined GraceKennedy in August 1991 as Assistant Company Secretary. In November 2000, she was promoted to her current position within the Financial Services Division as Corporate Secretary. Mrs. Spence-Dunn is a fellow of the Institute of Chartered Secretaries and Administrators in London, and holds a law degree from the University of Wolver Hampton.

Joseph Taffe
Joe Taffe joined GraceKennedy in 1989. In September 2005, Mr. Taffe was appointed Deputy Chief Operating Officer of the Financial Services Division of GraceKennedy and after a four-month transition period, assumed the post of Chief Operating Officer (COO) of the Financial Services Division. With the streamlining of the divisions within the GraceKennedy Group, Joe Taffe assumed the role of Deputy CEO, GK Investments, on December 1, 2006. Mr. Taffe received a Bachelor of Science (Hons.) Degree in Management Studies from the University of the West Indies; is a Chartered Accountant, and a Fellow of the Institute of Chartered Accountants of Jamaica and the Association of Chartered Accountants, UK.

Orville Walker
Mr. Walker is a financial consultant and a career banker, having spent thirty-seven (37) years with the Bank of Nova Scotia Jamaica Limited, where he rose to the position of Deputy Managing Director. Mr. Walker is also a member of First Global Bank’s credit committee.

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