In July of last year, NCB Financial Group chairman Michael Lee-Chin famously declared that he was “not happy” with the lack of dividends by the financial institution and promised to make changes to drive efficiency so more money will be available to make payments to shareholders. Among the first changes he made was to recruit a strong and proven leader to the role of CEO of the bank – Bruce Bowen.

Bowen, a former head of Scotia Jamaica, was appointed CEO of National Commercial Bank Jamaica in September, having previously served as special advisor to the interim group CEO of NCB Financial Group.

He provides strategic leadership to all areas of the bank, overseeing the development of the organisation such that its growth, profitability, risk management and regulatory objectives are appropriately defined and achieved.

With nearly three decades experience in senior management at major international financial institutions, Bowen has developed an impressive track record of leading large, complex financial service providers across diverse international markets, having directed operations across 20 different countries covering retail and commercial banking, insurance and wealth management.

Originally hailing from St Catherines, Ontario in Canada, Bowen is from an entrepreneurial family with a rich history in the transportation business in the North American country – his father, Frank Bowen, a co-founder of what became the largest freight forwarding company in the country, Inter-American Transport System.

An entrepreneur himself, Bruce Bowen is the founder of Rock Capital Partners, a boutique financial advisory practice, and also founder and chairman of ADVANTAQ, a RegTech business supporting regional financial institutions.

At NCB, after the group this week declared a second consecutive dividend payment following a long hiatus, Lee-Chin expressed his pleasure as the restructuring yields positive results.

Customer experience is among the three pillars – the others being efficiency improvement and governance – upon which the group aims to drive growth as part of its transformation. For his part, Bowen highlighted that addressing key customer ‘pain points’ will earn Jamaica’s largest bank the right to deepen customer relationships and expand share of wallet.

Against this background, Observer Online sat down with Bowen for a brief Q&A about the transformation at NCB and more.

Q. You are from an entrepreneurial family, your father Frank Bowen having co-founded what became the largest freight forwarding company in Canada. However, you’re one of the first members of your family not to enter the transport business. What influenced your decision not to take that same path?

A. My parents never encouraged me to work in transportation, but wanted me to get a good quality university education and to be passionate about whatever career I chose. I grew up in a city where General Motors was the largest employer, and as a boy I had a dream of being the president of General Motors. When I graduated from business school I wasn’t sure what industry I wanted to be in, so I decided to spend a few years in banking so I could see a lot of businesses and decide what I really wanted. Almost 40 years later, I guess I didn’t find anything more exciting than banking.

Q. How has your family background in business shaped your career in finance?

A. My father was very hard working and not afraid to take calculated risks. He taught me that success comes from hard work and a strong moral compass. Based upon his example, I always tried to do more; to bring more value to the business than my bosses expected from me. I also wasn’t afraid to take risks when I believed it was the right thing to do for the business. Within the structure of a big company I tried to be entrepreneurial in the way I approached problems.

Q. Interestingly, as a young banker in the 1980s in Canada, your career crossed paths with that of a young Michael Lee-Chin, the man who has tapped you to lead the transformation at NCB. Is it fair to say that there was mutual admiration from as early as your first encounter 40 years ago that influenced this full circle moment?

A. It certainly is a small world at times. When I first met Michael he was a salesman for a mutual fund sales company, and I was the bank’s Account Manager for the company he worked for. We designed a lending program for the company’s customers which allowed them to purchase larger blocks of funds. As the company’s leading salesman, Michael Lee-Chin referred more borrowing customers to us than anyone else. Michael’s personality was always outgoing and he had a passion for helping people build their wealth. When Michael needed an investment loan himself, we knew his ability and his drive to succeed.

Q. A major part of the transformation at NCB is the move to position the institution as one that helps people grow wealth, and not just manage wealth. What real changes will the consumers see in this regard and over what timeline?

A. NCB is an amazing institution and the leader in almost every area of banking, insurance and wealth management. However, sometimes we only look at one part of our customer’s banking needs and are too focused at selling products rather than understanding our customers needs. Every customer, whether consumer or business, wants to grow wealth – to be financially better off in the future. We want to take the time to understand where you are today, what you want to do tomorrow, and the vision you have for your future. Sometimes your need today is a loan, say to buy a car or a home, but you also want to be able to pay for your children’s education when they go to university in 10 years. How can we meet your immediate need, while developing a monthly investment plan and protecting your family with insurance in case something unexpected happens. NCB is better positioned than any financial institution to help you at every stage of your life today while building wealth for your future.

Q.Is innovation a priority for the bank? What role will innovation play at the new NCB?

A. Innovation is necessary to continue providing the best products and services in the market, and NCB will continue to innovate to meet the unique needs of Jamaicans. With NCB Jamaica, Guardian Holdings based in Trinidad & Tobago, Clarien Bank in Bermuda and NCB Capital Markets we are the largest bank in Jamaica, the largest insurance company in the region, a leading off-shore financial institution and a leading investment bank and funds manager in the Caribbean. We have more opportunity to innovate and bring value to our customers than any financial institution. However, innovation cannot be at the expense of being good at the basics. We need to make sure that the everyday things you expect from your bank and your insurance provider work; from ABMs having cash, to loans being processed quickly, to debit cards working online, to wire transfers being processed accurately, to insurance claims being dealt with promptly, etc., etc. We need to be good at both; delivering efficiently on basic expectations while leveraging the strength of NCB Group to deliver innovative solutions.