Ivan B. Browne named CEO Designate for the Montserrat Development Corporation

The Executive Chairman and board of the Montserrat Development Corporation (MDC) announced recently the immediate appointment of Ivan B. Browne as the new Chief Executive Officer (CEO) – designate of the corporation. Browne is expected to take up his substantive role as CEO on July 8th 2013 following the completion of his present technical consultancy.

Browne, who is a Montserratian, comes to the role after a very successful career in the financial services sector. He spent over 30 years in banking in the region and overseas including 28 years at Barclays Bank rising to the level of regional director, a further four years with FirstCaribbean International Bank, first as a director on the integration team and then as corporate director for the OECS and a director of FirstCaribbean International Bank (Barbados) Ltd. After leaving FirstCaribbean he oversaw the establishment of Caribbean Union Bank in Antigua and International Banking Group in the Turks and Caicos Islands. He has served as chairman of the Bank of Nevis.

The incoming CEO’s contribution to the regional financial services sector is reflected in his being one of only eight people (and the only one from the OECS) to be awarded the inaugural lifetime honorary fellowship by the Caribbean Association of Banking and Financial Institutes.

Ivan Browne, CEO designate of the Montserrat Development Corporation. (Photo by Aeon Photography)

Ivan Browne, CEO designate of the Montserrat Development Corporation. (Photo by Aeon Photography)

Reacting to the news Browne said he was proud and honoured to be selected and thanked the executive chairman and the board for the trust and confidence reposed in him. He said that if one looked at the major goals of the MDC namely:

  • To be the Master Developer for Little Bay and Carr’s Bay, responsible for promoting, developing and managing the site;
  • Provide business development support to the local private sector;
  • Secure foreign and local private sector development to support the development of a tourism led economy;
  • Implement trade and investment promotion activities;
  • Stimulate the local private sector, by improving access to finance, training, advice and property, giving priority to businesses that can export or substitute for imports

The finance expert added that “it was clear that the corporation had a very important role to play in the rebuilding and rejuvenation of the local economy and enabling the local private sector to contribute in a more meaningful manner to the economic growth required to set the island on a more sustainable footing.”

Browne said that as a Montserratian he was very keen to ensure that the “goals were achieved and to lead the corporation towards becoming a respected and admired corporate citizen.”

Since January 2013, Browne has been heading a consultancy to assess the feasibility of an investment fund for Montserrat. Already more than six million dollars in potential investment has been identified and it is hoped that by July 2013, the fund will be established as a separate entity from the MDC.

More information on the investment fund, the One Stop Shop and small business financing can be obtained by visiting the Montserrat Development Corporation office which is located upstairs the Little Bay Public Market complex. They can be reached online at www.mdc.ms or via email at info@mdc.ms.

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