Transcription
1Annual Report 2020
1While we were at home being safe,the entire world around us looked different.For us, it was a time of change as well.We had to adapt to our transformed lives.We found new ways to work, to learn, to betogether. We found a new perspective onourselves, our neighbours, our country andthe world.As a Group, we affirmed the hope thatwe could maintain the lives we built.So we found solutions to serve the uniqueneeds of this time. We found ways to supportour customers’ financing, made our servicesmore available digitally, changed ourin-branch approach to be socially distantyet fully committed. Every step of the wayand across all our territories, we kepta positive outlook. For we fully believeand wanted all our communities to keepbelieving that a great future isand always will be ours.
2 RFHL ANNUAL REPORTThe Group at a GlanceAbout UsTotal Assets ( US Million)Republic Financial Holdings Limited (RFHL)is the registered owner of all of the Banks 20172016the Republic Group – Republic Bank Limited,Republic Bank (Guyana) Limited, Republic Bank(Barbados) Limited, Republic Bank Republic Bank (Ghana) Limited, Republic Bank(BVI) Limited, Republic Bank (Cayman) Limited,10,000Cayman National Corporation, Republic Bank(EC) Limited, Republic Bank (Anguilla) Limited,Republic Bank (St. Maarten) N.V., and othersubsidiaries. In keeping with international best5,000practice, this holding company was formedwith the aim of offering increased operationalefficiencies and optimum management of0the Republic Group; ultimately leading togreater value for our shareholders and clientswhile enabling greater strategic focus anddiversification.Profit After Tax and NCI ( US Million)Operating 150CaymanIslandsBVI100AnguillaSt MaartenSt Kitts & NevisSt. Vincent & the GrenadinesGrenadaDominicaSaint LuciaBarbadosGhana50Trinidad & TobagoGuyanaSuriname0
3Share Price ( US)2020201921.1918.23Network6,216 126employeesbranches344ATMsDividend Yield (%)202020191.903.69Sources of RevenueLiquidIncome3.4 Other3.7 AssetsEPS ( US)202020190.831.46Securities6.4 InvestmentEarnings7.3 Exchange19.2Fees %CommissionsAdvances60.0PE Ratio2020201925.512.5Corporate Social ResponsibilityThrough our social investment initiative, the Power to Make a Difference, we haveformed powerful connections within the national communities of our territorieswith the aim of safeguarding the welfare and ensuring the sustainable successof these beautiful nations.For the past 16 years, through relationships with Non-Governmental Organisations(NGOs) and Community Based Organisations (CBOs), we have worked togetherto help enhance the quality of life of people with disabilities; support healthcareprogrammes and disability awareness initiatives; provide opportunities for youngpeople to realise their truest potential through sport, education, culture andthe arts; and raise the bar for community investment through a wide-reaching,comprehensive staff volunteerism programme.
4 RFHL ANNUAL REPORTThe Table of ContentsCorporate Information68910Notice of MeetingCorporate InformationConsolidated Financial SummaryGroup Financial CalendarBoard of Directors12202330Board of DirectorsDirectors’ ReportChairman’s ReviewPresident’s Discussion and AnalysisGroup Subsidiaries4466SubsidiariesStatement of Corporate Governance PracticesCorporate Social Responsibility76Power to Make A DifferenceFinancial Statements858694969798100102Statement of Management ResponsibilitiesIndependent Auditor’s ReportConsolidated Statement of Financial PositionConsolidated Statement of IncomeConsolidated Statement of Comprehensive IncomeConsolidated Statement of Changes In EquityConsolidated Statement of Cash FlowsNotes to the Consolidated Financial Statements
5finding the perfectbalancewe adjusted our branch footprint and services in the best interestof our clients and staff, but our staff remained operationalto better serve you.CORPORATE INFORMATION
6 RFHL ANNUAL REPORTNotice of MeetingVirtual Annual Meetingan opportunity to read or hear the proceedingssubstantially concurrently or simultaneously withNOTICE is hereby given that the Fifth Annual Meeting ofsuch proceedings, and (C) if any shareholder orRepublic Financial Holdings Limited will be held virtuallyproxy holder votes at the meeting by means ofand streamed live to all Shareholders from 2nd FloorRemote Communication, a record of such voteConference Room, Republic House, 9-17 Park Street, Port ofshall be maintained by the Company and shall beSpain on December 14, 2020, at 9:30 a.m. for the followingvalid and carry the same effect as a vote by showpurposes:1Special business – To confirm the amendments of theBy-laws to facilitate the convening of a virtual Annualof hands or by ballot (as the case may be)”.2Republic Financial Holdings Limited, for the year endedMeeting and voting at such meeting as follows:September 30, 2020, and the Reports of the DirectorsTHAT paragraph 13 of By-law No. 1 of Republic FinancialHoldings Limited be amended by inserting the followingnew paragraph 13.11:“13.11Remote Communication Shareholders’ meetings:13.11.1 Remote Communication means any ne, video conference, the Internet or anyother method of communication available bywhich shareholders not physically present in thesame location may simultaneously listen to and/To receive the Audited Financial Statements ofand Auditors thereon.3To take note of the Dividends paid for the 12-monthperiod ended September 30, 2020.4To elect Directors.5To re-appoint the Auditors, Ernst & Young, and toauthorise the Directors to fix their remuneration.6Any other business.By order of the Boardor interact with each other and members of theBoard of Directors.13.11.2 TheBoardofDirectorsmay,initssolediscretion, determine that at a special meetingof shareholders or any Annual Meeting ofshareholders, shareholders may attend andparticipate by means of Remote CommunicationKimberly Erriah-AliGroup General Counsel/Corporate SecretaryNovember 6, 2020held at a designated place. As to any meetingwhere attendance and participation by RemoteCommunication authorised by the Board ofDirectors in its sole discretion and subject tosuch guidelines and procedures as the Board ofDirectors may adopt for any meeting, shareholdersnot physically present at such meeting of theshareholders shall be entitled to: (i) participatein any meeting of the shareholders; and (ii) bedeemed present in person and vote at suchmeeting of the shareholders provided that (A) theCompany shall implement reasonable measuresto verify that each person deemed present andpermitted to vote at the meeting by means ofRemote Communication is a shareholder orproxy holder, (B) the Company shall implementreasonable measures to provide shareholdersand proxy holders a reasonable opportunityto participate in the meeting and to vote onmatters submitted to the shareholders, includingNotesThis year, out of an abundance of caution, to proactivelyaddress the unprecedented public health impact of theglobal Novel Coronavirus (COVID-19) pandemic and tomitigate risks to the health and safety of our communities,shareholders, employees and other stakeholders, wewill hold a virtual meeting, which will be conducted vialive webcast. All shareholders will have an opportunityto participate in the meeting online regardless of theirgeographic location. Shareholders will not be able to attendthe meeting in person.Attendance at the MeetingAll shareholders will have an opportunity to participate inthe meeting online regardless of their geographic location.Shareholders will not be able to attend the meeting inperson. Shareholders can participate online using theircomputer or device.
CORPORATE INFORMATION 7Registered shareholders and duly appointed proxyholdersPlease select carefully as you cannot change your vote orwho participate in the meeting online will be able to listenvote more than once when your vote is sent. To be able toto the virtual meeting, ask questions and vote, all in realvote, you must download the Zoom app. on your computertime, provided they are connected to the Internet andor device before the event.properly follow the following steps:12345Shareholders are required to register during the periodDividendNovember 10, 2020 to December 11, 2020.A final dividend 2.10 declared for the financial year endedTo register, shareholders must visit www.rfhl.comSeptember 30, 2020 will be payable on December 1, 2020,and click on the web banner ‘Fifth Annual Meeting ofto shareholders at the close of business on November 18,Shareholders’.2020.Select ‘Register to Attend Meeting’ which will thenprompt the validation process.Republic Financial Holdings LimitedShareholders would be required to provide their fullThis is the Fifth Annual Meeting of Republic Financialname, address, date of birth, valid identification numberHoldings Limited since the Republic Bank Limited Vestingand email address.Order (Legal Notice #215 of 2015) and the change of theShareholders will receive an email with a username andname, Republic Bank Limited, to Republic Financialpassword login credentials that will facilitate access toHoldings Limited.the Meeting on December 14, 2020.Shareholders attending the Meeting must be confirmed asDocuments Available For Inspectiona shareholder on record as at November 18, 2020.No service contracts were granted by the Company orSubsidiary Companies, to any Director or Proposed DirectorPersons Entitled to NoticeIn accordance with Section 110 (2) of the CompaniesAct Chap. 81:01, the Directors of the Company havefixed November 18, 2020, as the Record Date for thedetermination of shareholders who are entitled to receivenotice of the Annual Meeting. A list of such shareholderswill be available, for examination by shareholders, at theOffice of the Registrar during usual business hours.ProxiesShareholders of the Company, entitled to attend and vote atthe Meeting, are entitled to appoint one or more proxies toattend and, in a poll, vote instead of them. A proxy need notbe a shareholder. Any instrument appointing a proxy mustbe received at the Registrar’s Office, not less than 48 hoursbefore the Meeting. Shareholders who return completedproxy forms are not precluded, if subsequently they sowish, from joining the Meeting instead of their proxies andvoting. In the event of a poll, their proxy votes lodged withthe Registrar will be excluded.VotingTo vote on Resolutions, a pop-up screen will appear statingthe resolution number. Simply click (press for touch screens)on the button next to the word ‘For’ or ‘Against’ dependingon your vote.of the Company.
8 RFHL ANNUAL REPORTCorporate InformationDirectorsRegistered OfficesChairmanRepublic HouseVincent Pereira, BSc (Chem.), MBA, Dip. (Petroleum Eng.)4th Floor9-17 Park Street, Port of SpainPresident and Chief Executive OfficerTrinidad and Tobago, West IndiesNigel M. Baptiste, BSc (Hons.) (Econ.), MSc (Econ.), ACIBGroup Head OfficeDirectorsRepublic HouseShazan Ali, BSc (Hons.) (Mechanical Eng.)4th FloorIan Benjamin, MA, LLM (Cantab.), LLM (Syd.)9-17 Park Street, Port of SpainDawn Callender, FCCA, MBATrinidad and Tobago, West IndiesTerrence W. Farrell, PhD, LLB, LECTel: (868) 625-4411, 623-1056Peter R. Inglefield, CAFax: (868) 624-1323Alison Lewis, MOM, BA (Econ. and Mgmt.)Swift: RBNKTTPXS. Ronnie Mohammed, MBA, Cert. Business Admin.,Email: email@rfhl.comCert. Family Business Mgmt.Website: www.rfhl.comRobert Riley, CMT, BSc (Agri. Sc.), LLB (Hons.), LEC, EMBAWaltnel Sosa, MBA, BA (Math. and Comp. Sc.)Kristine Thompson, B.Comm., MBARegistrarGregory I. Thomson, BSc (Math. and Physics), MBATrinidad and Tobago Central Depository Limited10th Floor, Nicholas TowerSenior Officers63-65 Independence Square, Port of SpainTrinidad and Tobago, West IndiesChief Internal Auditor (until September 27, 2020)Riah Dass-Mungal, BSc (Acct.), FCCAAttorneys-at-LawChief Internal Auditor (effective as at September 28, 2020)Pollonais, Blanc, de la Bastide & JacelonWendy Anne Bosse, BSc (Hons.) (Mgmt. Studies), AICBPembroke Court17-19 Pembroke Street, Port of SpainChief Financial OfficerTrinidad and Tobago, West IndiesMarsha Mc Leod-Marshall, FCCA, CA, MSc (Dist.)(Int’l Fin.)J.D. Sellier & CompanyGroup General Counsel/Corporate Secretary129-131 Abercromby Street, Port of SpainKimberly Erriah-Ali, LLB (Hons.), LEC, MBA, ACAMSTrinidad and Tobago, West IndiesChief Risk OfficerHobsons Attorneys at LawParasram Salickram, FCCA, ACMA, CGMA, CA, CFA, FRMSagicor Centre21-25 Independence Avenue, San FernandoTrinidad and Tobago, West IndiesAuditorsErnst & Young Trinidad and Tobago5-7 Sweet Briar RoadSt. Clair, Port of SpainTrinidad and Tobago, West Indies
CORPORATE INFORMATION 9Consolidated Financial SummaryAll figures in thousands of Trinidad and Tobago dollars ( ’000), except where otherwise 322,8501,252,128946,307financial year439,063732,204715,148714,637705,820Dividends paid during the 04.404.35Dividend per share paid during the year ( )3.854.504.404.354.35Earnings per share (basic) ( )5.579.758.177.755.87Return on average assets (%)1.052.172.001.941.42Return on average equity (%)8.7816.0113.8013.3110.49Total assetsAdvancesCustomers’ depositsStated capitalEquityActual number of shares in issue (‘000)Weighted average numberof shares – diluted (‘000)Profit after taxation and non-controllinginterestDividends based on the results of theDividend per share based on the resultsof the financial year ( )
10 RFHL ANNUAL REPORTGroup Financial CalendarDividend PaymentsFinal dividend for year ended September 30, 2020Dividend for half-year ending March 31, 2021December 2020May 2021ResultsPublication of results for first quarter to December 31, 2020Publication of results for half-year to March 31, 2021Publication of results for third quarter to June 30, 2021Publication of results for year ending September 30, 2021February 2021May 2021August 2021November 2021Report and accounts mailingNovember 2021Annual MeetingDecember 2021
11networkingat a touch of a buttonwe introduced contactless personal services and appointments,and conducted virtual interviews, and communicated via phones,email and instant messaging services.BOARD OF DIRECTORS AND EXECUTIVES
12 RFHL ANNUAL REPORTBoard of DirectorsVincent PereiraNigel M. BaptisteBSc (Chem.), MBA, Dip. (Petroleum Eng.)BSc (Hons.) (Econ.),MSc (Econ.), ACIBChairmanRepublic Financial Holdings LimitedRepublic Bank LimitedVincent PereiraPresident andChief Executive OfficerRepublic Financial Holdings LimitedManaging DirectorRepublic Bank LimitedNigel M. BaptisteShazan AliIan BenjaminBSc (Hons.) (Mechanical Eng.)MA, LLM (Cantab.), LLM (Syd.)Executive DirectorChief Executive Officer EmeritusTOSL Engineering LimitedSenior Counsel and HeadBethany ChamberShazan AliIan BenjaminDawn CallenderTerrence W. FarrellFCCA, MBAPhD, LLB, LECConsultantConsultantDawn CallenderTerrence W. Farrell
BOARD OF DIRECTORS AND EXECUTIVES 13Peter R. InglefieldAlison LewisCAMOM, BA (Econ. and Mgmt.)Chartered AccountantConsultantPeter R. InglefieldAlison LewisS. Ronnie MohammedRobert RileyMBA, Cert. Business Admin.,Cert. Family Business Mgmt.CMT, BSc (Agri. Sc.), LLB (Hons.),LEC, EMBAGroup Executive DirectorNutrimix Feeds LimitedExecutive DirectorRobert Riley Leadership andEnergy ConsultingS. Ronnie MohammedRobert RileyWaltnel SosaKristine ThompsonMBA, BA (Math. and Comp. Sc.)B.Comm., MBAConsultantChief Executive OfficerCabot Saint LuciaDirectorYay! Entertainment LimitedWaltnel SosaKristine Thompson
14 RFHL ANNUAL REPORTBoard of DirectorsGregory I. ThomsonBSc (Math. and Physics), MBARetired BankerGregory I. Thomson
BOARD OF DIRECTORS AND EXECUTIVES 15Vincent PereiraAge 65Nigel M. BaptisteBSc (Chem.), MBA, Dip. (Petroleum Eng.)BSc (Hons.) (Econ.), MSc (Econ.), ACIBChairman, Republic Financial Holdings LimitedPresident and Chief Executive OfficerChairman, Republic Bank LimitedRepublic Financial Holdings LimitedAge 54Managing Director, Republic Bank LimitedVincent Pereira was appointed Chairman of RepublicFinancial Holdings Limited and Republic Bank LimitedNigel M. Baptiste, President and Chief Executive Officer andin 2020. He joined the Republic Group in July 2019 as aManaging Director, Republic Bank Limited since 2016, is amember of the Board of Republic Bank Limited. He is thecareer banker with more than two decades of experience.current President of BHP Trinidad and Tobago – an upstreamPrior to his current position, he has served as Deputyoil and gas producer in Trinidad and Tobago – and has moreManaging Director and Executive Director of Republic Bankthan 35 years of energy sector experience, having worked inLimited, General Manager Human Resources as well asTrinidad and Tobago and the United States.Managing Director of the Group’s subsidiary in Guyana. Mr.Baptiste currently serves on the Boards of Republic FinancialIn his present role at BHP Trinidad and Tobago, which heHoldings Limited, Republic Bank Limited, Republic Bankhas held since 2005, Mr. Pereira leads the firm’s safe and(Guyana) Limited, Republic Bank (Ghana) Limited, Caymanreliable operations, working toward ensuring the long termNational Corporation and other subsidiaries within thevalue enabled growth and development of BHP’s businessRepublic Group. He holds a Bachelor of Science within Trinidad and Tobago.Honours and a Master of Science in Economics fromthe University of the West Indies (UWI), is a graduate ofUnder Mr. Pereira’s watch, the company has successfullythe Harvard Business School Advanced ManagementexecutedupstreamProgramme, holds a Diploma with distinction from the ABAdevelopment projects, and pioneered the explorationStonier Graduate School of Banking (USA), and is a memberefforts in the frontier Deepwater basins offshore Trinidadof the Chartered Institute of Bankers (England).twoadditionalmajoroffshoreand Tobago. BHP Trinidad and Tobago continues to makesignificant progress in the seamless transition from an oilfocussed entity to a substantial gas producer and supplier.Apart from ensuring the safe and reliable underlyingperformance of the business, a key area of focus remainsShazan AliAge 73BSc (Hons.) (Mechanical Eng.)on leading and maintaining the external stakeholderengagements required to ensure the long-run viability ofExecutive Director and Chief Executive Officer EmeritusBHP in Trinidad and Tobago.TOSL Engineering LimitedMr. Pereira is a Petroleum Engineer and holds a Master ofShazan Ali was appointed to the Board of Directors of theBusiness Administration from Houston Baptist University.Republic Group in 2010. He is the Chief Executive OfficerEmeritus and an Executive Director of TOSL EngineeringExternal AppointmentsLimited. Mr. Ali has a wealth of experience in the energyMr. Pereira is a Member of the Society of Petroleumsector having spent more than three decades developingEngineers and a Board member of the Energy Chamber ofTOSL Engineering Limited into a world-class operation withTrinidad and Tobago. He is the current Deputy Chairman ofinterests in the wider Caribbean, the Guianas, and Sub-United Way Trinidad and Tobago.Saharan Africa.Mr. Ali is also a Director of Republic Bank Limited andRepublic Bank (Suriname) N.V.
16 RFHL ANNUAL REPORTBoard of DirectorsIan BenjaminAge 57MA, LLM (Cantab.), LLM (Syd.)Dawn CallenderAge 63FCCA, MBASenior Counsel, Head of Bethany ChambersConsultantIan Benjamin was appointed to the Board of Directors ofDawn Callender was appointed to the Board of Directorsthe Republic Group in 2016. He is a career advocate attorneyof the Republic Group in 2011 and currently works in thewith more than 30 years’ experience in practicing andenergy sector providing financial and risk managementteaching law in Trinidad and Tobago, the United Kingdom,advice. She has worked in the UK, USA, and Zimbabweand Australia and is the current Head of Bethany Chambers,in the fields of business management, strategic financialPort of Spain, Trinidad, as well as he is a door tenantmanagement, and implementation of business systems.(Associate Member) of Fountain Court Chambers, London. AWith two decades of experience at the executive level, Ms.well-regarded practitioner in banking, financial regulation,Callender is also a Fellow of the Association of Charteredcompany, insolvency, insurance, pension, and tax litigation,Certified Accountants (UK) and holds a Master in Businessconstruction disputes, professional negligence, judicialAdministration from Henley Management College (UK) andreview and constitutional motions, Mr. Benjamin served inhas research interest in the fields of strategy and leadership.the Office of the Attorney General of Trinidad and Tobagoand has held several teaching posts at the University ofExternal Appointmentsthe West Indies, Trinidad and Tobago, the University ofMs. Callender serves on the Boards of the Airport AuthoritySydney, Australia, and Kingston Polytechnic, England.ofACertified Mediator and a member of the Chartered ommission.of Arbitrators, Mr. Benjamin holds a Masters of Law (FirstClass Honours) from the University of Sydney, Australia;a Masters of Law (Upper Second Class Honours), and aBachelor of Arts (First Class Honours in Law, Upper SecondClass Honours in Land Economy) from Girton College,Terrence W. FarrellAge 67PhD, LL.B., LECUniversity of Cambridge, England. He was admitted tothe Bar of England and Wales (1988), Trinidad and TobagoConsultant(1989), Dominica (2008), Grenada (2013) and Anguilla(2016). He was appointed Senior Counsel in June 2018. Mr.Terrence W. Farrell was appointed to the Board ofBenjamin has served as a frequent case note contributorDirectors of the Republic Group in 2008 and is a businessto The Lawyer, and has published papers on Professionaldevelopment and strategy consultant and an Attorney-at-Negligence (1994); Consumer Protection (1995); ManagingLaw. Dr. Farrell is a former Deputy Governor of the Centralthe Risk of Fraud: What Now for Caribbean Insurers (2007);Bank of Trinidad and Tobago and has held senior executiveand Adverse Possession (2010).positions at Guardian Holdings Limited and One CaribbeanMedia Limited. He studied Economics at the University ofExternal Appointmentsthe West Indies and the University of Toronto, where heMr. Benjamin currently serves on the Boards of Amitaflater obtained his Doctor of Philosophy in 1979. He holdsInvestments Limited and Dobs Limited. He is the Volunteera Bachelor of Law (London), as well as a Legal EducationChairman of United Way Trinidad & Tobago and VolunteerCertificate from the Hugh Wooding Law School. Dr. Farrell isDirector of the Foundation for Human Development.a Certified Mediator and a Fellow of the Institute of Bankingand Finance of Trinidad and Tobago.External AppointmentsDr. Farrell is a Director of TATIL (Trinidad and TobagoInsurance Limited) and TATIL Life Assurance Limited.
BOARD OF DIRECTORS AND EXECUTIVES 17Peter R. InglefieldAge 68CAExternal AppointmentsMs. Lewis is a Director at NiQuan Energy Trinidad Limitedand NiQuan Energy LLC and Kamfra Development Limited.Chartered AccountantPeter R. Inglefield was appointed to the Republic GroupBoard of Directors in 2020, prior he served as a memberof the Republic Bank Limited Board since 2015. Hehas served as Tax Partner and Managing Partner atPricewaterhouseCoopers, having joined the firm in 1976. Mr.Inglefield is a Chartered Accountant and is a past memberof the Institute of Chartered Accountants in Trinidadand Tobago. He has extensive experience in the field oftaxation and accounting, locally and regionally, with specialemphasis on Petroleum Taxation, including advising foreigninvestors on structuring local operations; issues relating tocross border transactions, tax treaty considerations; andwithholding tax matters.S. Ronnie MohammedAge 41MBA, Cert. Business Admin., Cert. Family Business Mgmt.Group Executive Director, Nutrimix Feeds LimitedS. Ronnie Mohammed was appointed to the RepublicGroup Board of Directors in 2019. He is the Group ExecutiveDirector of Nutrimix Feeds Limited and brings to bearsignificant agricultural and manufacturing sector expertisehaving served for more than two decades in SeniorManagement/Executive roles in corporate management,financial and credit risk management, corporate strategicand business planning, implementation, research andmarketing.External AppointmentsMr. Inglefield is a Director of the Trinidad and Tobago StockExchange, IRP Fire & Safety Limited and Catholic MediaServices Limited.External AppointmentsMr. Mohammed serves on a number of boards in Trinidad andTobago. He is currently the Chairman of Caribbean AirlinesLimited as well as the Chairman of the Estate Managementand Business Development Company Limited. He is aAlison LewisAge 66MOM, BA (Econ. and Mgmt.)member of the Private Sector Implementation Committeeunder the Office of the Prime Minister of the Governmentof the Republic of Trinidad and Tobago (GORTT) and aConsultantDirector of several regional Trade and Business associations.Alison Lewis was appointed to the Board of Directors of theRepublic Group in 2014. A former Governor of the Heritageand Stabilisation Fund, Ms. Lewis has served as an Advisor inthe office of Executive Director, World Bank, as PermanentSecretary of the Ministry of Finance, and as a formerCommissioner on the Securities and Exchange Commission.In August 2015, Ms. Lewis was awarded the Public ServiceMedal of Merit (Gold) by the Government of the Republicof Trinidad and Tobago for meritorious and outstandingservice. Over the last two decades, Ms. Lewis has served onseveral Boards, including the Central Bank of Trinidad andTobago, Trinidad Cement Limited, the Sovereign WealthFunds Group, the Economic Development Advisory Boardand she is the former Chairman of the Port Authority ofTrinidad and Tobago.Robert RileyAge 63CMT, BSc (Agri. Sc.), LLB (Hons), LEC, EMBAExecutive DirectorRobert Riley Leadership and Energy ConsultingRobert Riley was appointed to the Board of Directors ofthe Republic Group in 2016. Over a professional career thatspans more than three decades, Mr. Riley has served in avariety of executive management and senior legal positions,including Head of Safety and Operations Risk, Safety RiskLeadership and Culture, BP PLC, London, Chairman andChief Executive Officer, BP Trinidad and Tobago; VicePresident, Legal and Government Affairs, Amoco and BP/
18 RFHL ANNUAL REPORTBoard of DirectorsAmoco; and General Counsel and Corporate Secretary,Mr. Sosa holds a Master in Business Administration from theBWIA. He has also served on the Boards of Amoco TrinidadHarvard Business School and a Bachelor of Science in Mathand Tobago LLC and other Amoco entities, Titan Methanol;and Computer Science from Hamilton College.BP Trinidad and Tobago, Atlantic LNG, The Bank of NovaScotia, Trinidad and Tobago Limited, the University ofTrinidad and Tobago (UTT), Caribbean Airlines Limited, andSequis LLC (Internet Software Company).Kristine ThompsonAge 49B. Comm., MBAAn Attorney-at-Law, admitted to the Supreme Court in 1987,Mr. Riley holds a Consortium Executive Master of BusinessChief Executive Officer, Cabot Saint LuciaAdministration from the Thunderbird American GraduateDirector, Yay! Entertainment LimitedSchool of International Management; a Bachelor of Lawswith Honours from the University of the West Indies (UWI),Kristine Thompson was appointed to the Board of DirectorsCavehill campus, Barbados; and a Bachelor of Science withof the Republic Group in 2011. She is the Chief ExecutiveHonours in Agricultural Science from the UWI, St. AugustineOfficer of Cabot Saint Lucia, a golf resort and real estatecampus, Trinidad. In 2003, he was awarded a Chaconiacommunity project currently under development byMedal (Gold) by the Government of the Republic of TrinidadCabot, its Canadian Parent. Prior to this, she was the Chiefand Tobago for his contribution to National Development.Executive Officer of Sunshine Snacks Limited, a memberIn 2009, he was awarded a Doctor of Laws Honoris Causaof the Associated Brands Industries Limited (ABIL) Group.by the University of the West Indies, St. Augustine campus,She also co-founded and developed the Chuck E. Cheese’sTrinidad.family entertainment franchise in Trinidad. Kristine wasa former Vice President, Business Development at theGuardian Holding Group (GHL) during a period of prolificWaltnel SosaM&A activity. She also founded a private equity energyAge 43MBA, BA (Math. and Comp. Sc.)fund while at GHL, and transitioned to leading the spunoff fund, where she amassed extensive experience ingreenfield project development. Her early career was spentConsultantin management consulting at the Boston Consulting Group(BCG) where she advised Fortune 500 companies with stintsWaltnel Sosa was appointed to the Board of Directors of theat BCG’s Toronto, New York, Buenos Aires, and MelbourneRepublic Group in 2018. An Independent Advisor with closeoffices. Mrs. Thompson holds a Bachelor of Commerceto two decades of experience at the senior level in Financialdegree from Queen’s University in Canada and a Master ofAnalysis, Strategic and Corporate Planning, BusinessBusiness Administration from the Harvard Business School.Development and Investment Banking. Mr. Sosa has servedin several positions with financial institutions based inExternal AppointmentsTrinidad and Tobago and the United States of America.Mrs. Thompson currently serv
who participate in the meeting online will be able to listen . to the virtual meeting, ask questions and vote, all in real time, provided they are connected to the Internet and properly follow the following steps: 1 Shareholders are required to register during the period November 10, 2020 to December 11, 2020. 2o register, shareholders must visit T www.rfhl.com. and click on the web banner .
