ECONOMIST and former deputy Central Bank Governor Dr Terence Farrell has retired as a director of Republic Financial Holdings Ltd (RFHL).

Colin Soo Ping Chow replaces him on the board, having taken up the post last Friday, an RFHL release said on Monday.

Farrell first served as a director of Republic Bank from 2008-2015 before becoming a director of RFHL in December 2015. The RFHL release said Farrell had always been active in the development of the group’s governance, especially following its rapid growth by acquisition.

RFHL said, “His measured wisdom has been invaluable through the organisation’s evolution.”

RFHL chairman Vincent Pereira said, “Terrence has given yeoman service to our organisation, and with his extensive expertise in business development and strategy, economics and law, he has made a significant contribution to the growth, resilience and profitability of the Republic Financial Group.

"We are immensely grateful for the indelible mark he has made in service to our group and wish him all the best in his future endeavours.”

Farrell’s replacement, Soo Ping Chow, is a former executive chairman of EY Caribbean (EYC) and has over three decades of experience in accounting, auditing and financial services.

RFHL said he has also led EYC for 15 years across eight countries with a team of over 700 partners and staff.

Pereira added “We are delighted to have Soo Ping Chow join our board. He has an admirable leadership record that embodies sound governance, high performance and effective change management, coupled with a profound understanding of the financial services sector in the Caribbean. We look forward to his invaluable contributions to the continued success of the RFHL Group.”

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