Capital G: Three Senior Appointments
Capital G has made three senior appointments: Frank Morisano has been appointed to the newly created position of EVP, Chief Risk Officer for Capital G Bank; David G. Carrick has been appointed to the position of EVP, Chief Financial Officer and Stephen Gift has been appointed to the role of SVP, Head of Treasury and will lead the Treasury team. The three appointments are effective immediately.
From left to right: David Carrick, Stephen Gift and Frank Morisano
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Mr. Morisano has over 25 years of global banking and risk management experience. He joins from Ma Lee Advisory Limited in Hong Kong, an Asian consulting firm, where as a Partner he directed business development, product delivery, and deployed consulting teams at leading financial institutions, insurance companies, and corporations to develop and implement robust risk strategies, liquidity and treasury solutions, and risk management frameworks.
Mr. Morisano was previously General Manager at QNB, a Partner and Financial Services practice leader at PricewaterhouseCoopers Consulting, and a Managing Director at GMAC-RFC. Mr. Morisano has also served at Bank of America and JPMorgan Chase.
Mr. Carrick has extensive leadership experience gained over 20 years in a range of corporate environments in the financial services industry. He joins Capital G after serving the last two years in the role of Corporate Controller, SVP Finance at Butterfield Bank, where he was responsible for the Bank’s financial and regulatory reporting, and insurance programmes.
Mr. Carrick was also involved in the $550 million capital raise in March 2010 and associated subsequent rights offering to existing shareholders in May 2010. Mr. Carrick will assume the role of CFO from Mr. Ralph Kern who has been in the role of CFO for the past 9 years. Mr. Kern will act as Senior Finance Consultant until his retirement in early 2013.
Mr. Carrick previously held the role of Senior Vice President, Chief Accounting Officer, at Scottish Re Group Ltd, where he served as a member of executive management to restructure the company. His prior roles also include that of Director of Finance at Tyco International Ltd., Head of Financial Reporting at the Bank of Bermuda, pre- and post its acquisition by HSBC, and Financial Controller at Bacardi Capital Limited.
Mr. Gift, SVP and Head of Treasury for Capital G Bank Limited has supervised and worked in treasury operations in both North America and Asia dealing in foreign exchange. With more than 20 years of experience in treasury management, he previously served as Head of Trading & Liquidity, Global Markets, at HSBC Bermuda, where he was responsible for the activity of the Global Markets Trading team.
His position involved the management of the Bank’s daily liquidity position, investment management of the Bank’s Treasury Asset Portfolio, and foreign exchange deal execution on behalf of the client sales team.
President and CEO of Capital G Bank, Ian Truran, said, “I am delighted to welcome three significantly experienced financial industry specialists to these critical leadership roles. Their appointment is a positive step in the growth of Capital G. Their proven abilities will further strengthen the executive team in ensuring Capital G‘s preparedness to excel in the banking industry in the years to come.
“I look forward to working with these gentlemen in the execution of our ongoing programme to be the best provider of financial services in Bermuda.”
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