Caribbean Development Bank yet to appoint a president

BRIDGETOWN, Barbados, CMC – The Barbados based Caribbean Development Bank (CDB) is still without a president, months after Dr Hyginus 'Gene' Leon tendered his resignation from the regional institution.

In April, Leon, who was sent on administrative leave by the bank in January of this year, said he was stepping down as he believed that he would not be treated fairly if he returned.

His St Lucia-based lawyers then said, “It is also evident that the bank has lost all trust and confidence in our client by the failure of the board of governors to prevent the continued violations of its charter, policies, rules and regulations with regard to its elected president.”

However, since then the CDB has remained mum on the circumstances surrounding the decision to send the St Lucian-born economist on administrative leave.

In February, the acting president, Isaac Solomon, confirmed at a bank news conference that “there is an internal administrative process involving the president”.

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In the latest development, the CDB told the Caribbean Media Corporation (CMC) today that the board of governors convened a meeting on Wednesday to commence the voting process for the election of the bank's next president. 

“This process is ongoing and is expected to conclude by December 6,” the CDB said.

Informed sources told CMC that a Trinidadian national and a Barbadian are the frontrunners for the position.

Leon was the sixth president of the regional development finance institution. 

He had succeeded the Jamaican-born Dr Warren Smith who retired in 2021 after serving as president for 10 years.