New Board Appointed at First Citizens Holdings Amid Political Concerns

August 27, 2025 – A new board of directors has been appointed to lead First Citizens Holdings Limited, the state-owned parent company of First Citizens Bank. Finance Minister Davendranath Tancoo officially presented instruments of appointment to the new members on Wednesday.

Shankar Bidaisee will serve as Chairman, with Professor Sterling Frost appointed as Deputy Chairman. The board also includes Crystelle Smith, Prakash Dhanrajh, Sandy Roopchand, Jo-Anne Boodoosingh, Nichelle Granderson, and Javan Lewis.

The announcement comes amid concerns from Opposition Leader Pennelope Beckles, who has cautioned the government against interfering in the operations of the majority state-owned bank. She warned that any politicisation of the institution could affect public confidence and financial stability.

Despite the concerns, the government maintains that the new appointments are in line with efforts to strengthen leadership and accountability within state enterprises.