Parkhill bullish on CIBC FirstCaribbean business prospects
Published:Friday | September 16, 2011 | 12:00 AM
Douglas 'Rik' Parkhill, a 20-year veteran in the global financial services industry, has taken up his new posting as chief executive officer of CIBC FirstCaribbean International Bank, based in Barbados.
Parkhill replaces John Orr, who has returned to home base at CIBC in Toronto after two years in Barbados.
Parkhill's most recent job prior to his Caribbean secondment announced in May, was the managing director and global head of CIBC's Capital Markets Sales and Cash Equities in that company's Wholesale Banking unit, based in Toronto.
Before joining CIBC in 2008, he was co-CEO of the Toronto Stock Exchange.
"Despite the ongoing challenges facing the economies of the region and, indeed, the world, there is still considerable scope for growth for our company," said Parkhill, who had his first day on the job on Monday.
"We intend to position ourselves to work alongside our clients to ensure they in turn are positioned to take advantage of the opportunities that are sure to present themselves as the recovery of the world economy progresses. It's an interesting and exciting time to be here," he said in a company issued statement.
Parkhill will manage the banking group's 17 markets encompassing a network of more than 100 branches and offices across the region and a staff corps of 3,400.