Page 27 - RFHL ANNUAL REPORT 2024_ONLINE

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though some concerns remain. In this context, the IMF both joined the RFHL Board on November 12, 2023. The
forecasts that real GDP growth in developed economies will diverse backgrounds and extensive experience of Jason and
rise slightly to 1.8 percent in 2025, while growth in emerging Mark compliment our skill set and they provide valuable
markets and developing economies is expected to hold perspectives, enhancing our ability to make sound, informed
steady at 4.3 percent. Overall, the global economy is projected decisions for the benefit of our shareholders, employees, and
to grow by 3.3 percent in 2025. However, this forecast faces customers. I would like to offer my congratulations to Mark
several downside risks, including the possibility of slower- for having been recognised for his tremendous contribution
than-expected growth in key economies and a resurgence of to Trinidad and Tobago by being awarded the nation’s most
global inflation due to unforeseen events. prestigious level of recognition, the Order of the Republic of
Trinidad and Tobago.
Meanwhile, the conflict between Israel and Hamas has
expanded, with Israel now engaged on multiple fronts, On behalf of the Board of RFHL I would like to offer my sincere
including conflicts with Iran and Hezbollah in Lebanon. These thanks to our Group President and CEO, Nigel Baptiste. Nigel
developments could draw additional countries and groups continues to lead the Group with distinction, delivering
into the conflict, potentially impacting global energy supplies, outcomes that may not have even been thought possible just
shipping times, and cargo security. This escalation may also a few short years ago. He and his executive team continually
intensify global trade tensions, which could hinder growth in demonstrate the effort, resilience, passion for excellence and
2025 and contribute to the further fragmentation of the global desire to ensure our many clients are served with the grace
economy along ideological lines over the long term. and care they deserve. Their leadership continues to be the
fuel that enables the Group’s success.

Board I want to express my heartfelt gratitude to our remarkable
For more than four years, I have benefitted immeasurably team across the RFHL family for their dedication, hard work,
from the exceptional talent of my Board colleagues. Their and resilience. Your commitment and passion drive the
commitment, insights, vision and guidance have been key Group’s success and enable us to reach new heights. On behalf
to ensuring the Group’s strength and resilience even during of the Board, thank you for making RFHL a place we can all
the most challenging of times. Collectively they have ensured take pride in. Your efforts do not go unnoticed, and we are
that we do the right thing, in the right way and at the right privileged to have such a talented team propelling us forward.
time, always. My sincerest gratitude to each member of our
Board for their contribution, their trust and their partnership. I I also extend my profound thanks to our valued shareholders,
look forward to our continued work together in service of this our customers and business partners, for your continued
amazing Group of Companies. support and trust in RFHL. Your commitment is the foundation
of our success, and we are grateful for the confidence you
I would like to recognise and express our gratitude to Peter place in us. Over the past year, we have made great strides
Inglefield, Gregory Thomson and Alison Lewis, who all retired towards the achievement of our strategic goals. These
from the RFHL Board over the past year. Peter retired on accomplishments are possible because of your unwavering
December 12, 2023, after three years of service on the RFHL belief in our vision and your dedication to our journey. We
Board and having served for eight years on the Republic remain committed to delivering long-term value and are
Bank Limited Board, while both Gregory and Alison retired focused on building a sustainable and prosperous future for
from the RFHL Board on November 4, 2023 after nine years of all stakeholders. Thank you for being an essential part of our
service. Throughout their tenure, these three individuals have story. We look forward to sharing more successes with you
played an essential role in guiding our strategic direction and as we work together to continue to grow and strengthen our
driving our success. Their leadership and wisdom have been organisation.
invaluable to the Group, and we are grateful for their years of
service and commitment. On behalf of the entire Board, our I am excited by what lies ahead for the Republic Financial
leadership team, and our employees, we wish them all the Holdings Limited Group.
best in their future endeavours.

As we say goodbye to cherished colleagues, we at the same
Vincent A. Pereira
time welcome Jason Mootoo and Mark Loquan, ORTT, who
Chairman