DONOVAN Perkins, president & CEO of Sagicor Bank Jamaica, will be leaving the bank on September 30.

President and CEO of the Sagicor Group Christopher Zacca, who made the announcement yesterday, said Perkins has been a stalwart at the bank and within the Sagicor Group for many years. “Most recently, he successfully led Sagicor Bank through the process of an important acquisition and subsequent operational merger with RBC Jamaica. Under his stewardship, Sagicor Bank has grown to be amongst the largest and most profitable commercial banks in Jamaica,” said Zacca.

“Donovan will be missed by all, as his contribution to building the bank and its team, as well as his influence to the strategic direction of the Sagicor Group, has been exemplary. Donovan is well known and respected in the financial services sector having spent most of his time working in the industry for almost 25 years. I wish Donovan well as he transitions to a well-earned retirement and look forward to his continued contribution to Sagicor Bank in his role as a member of the board” said Zacca.

With Perkins’ retirement, Zacca also announced that Philip Armstrong, deputy CEO, will act as president & CEO for Sagicor Bank.

“The transition will be seamless for both clients and team members as Philip has been an integral part of the bank’s success for many years,” Zacca said. He added that that his plans for the future include a strategic role for Armstrong in the Sagicor Group Jamaica as the company continues to expand and be a leader in the financial services sector.

Perkins started his banking career in Miami at Bank of America before being recruited by the Maurice W Facey to join Pan Jamaican in 1993. He was given the responsibility to run Pan Caribbean Merchant Bank, which went through a series, of mergers and acquisitions that included a number of merchant banks, investment banks and commercial banks that now comprise Sagicor Bank Jamaica. With the acquisition of RBC Jamaica in 2014 Perkins was appointed president & CEO of the merged Sagicor Bank and had direct oversight of the bank’s rapid profit growth in the following years.