IN his executive office on the upper floors of the Unit Trust Corporation (UTC) Financial Centre on Independence Square, Port of Spain, executive director Nigel Edwards paints a vivid picture of a healthy and adaptable organisation, with a vision.
The vision, he described, involves a thriving diversified economy bolstered by small and medium enterprises-turned-exporters.
His ten-year vision also involves a team of energetic personnel, including several new additions and alterations to the strategic leadership team.
Former chief risk officer Crystal Rodriguez-Greaves assumed the role of chief investment officer last December, allowing Dearl Bain to switch from assistant vice-president (enterprise risk management) to chief risk officer.
Deyson Scott, a long-serving employee, who started in investments, also took up a new role as chief sales and marketing officer, as did Ayanna McGowan, the new general counsel and corporate secretary, offering a new dynamic, Edwards said.
'All these positions bring a youthful energy. I'm now the oldest one on the team, which shocks me every time I say it.
'I love the fact that we have an energetic team.'
Edwards said he is proud of the recent high-profile personnel changes and their impact, individually and collectively.
'We have intentions of building internal talent,' he said.
Edwards joined UTC in 2013 as chief financial officer and became executive director in 2018. He served the maximum five-year term before his role was renewed until 2028.
'I have the easiest job in the world,' he said. 'It's interesting to me because I have a team of young, energetic, bright people with a range of responsibilities. Holding them accountable for those responsibilities is the main ambit of my job.
'My board holds me responsible for serving the unitholders and maximising their returns in the safest possible way.
'I do that with the help of this team, and it's a real joy managing my team.'
UTC's personnel shifts may have reaped dividends but UTC's positive performance precedes their appointments.
On June 21, Minister of Finance Colm Imbert praised UTC's 2023 year-end results.
For the year ending December 31, 2023, it recorded a total income of $915.2 million, a turnaround from the previous year's loss of $239.4 million. The improvement was attributed to "favourable changes" in the fair values of investment securities, shifting from a $1.03 billion impairment in 2022 to a $20.6 million surplus in 2023.
This change, Imbert said, resulted from the adoption of IFRS 9 - which specifies how an entity should classify and measure financial assets, liabilities and some contracts to buy or sell non-financial items.
Investment income increased by from $776.5 million to $881.8 million, driven by improved dividend declarations and gains from higher interest rates.
The TT$ Income Fund generated $438.2 million in income, and the Growth & Income Fund $184.4 million.
Total assets rose from $25.145 billion to $25.178 billion in 2023, owing due to improved cash inflows
