A major leadership shift is underway at NCB Merchant Bank (Trinidad and Tobago) Ltd, after CEO Marli Creese formally resigned from his post just weeks following a high-profile seizure of $2 million in bank-owned cash at Piarco International Airport. The bank confirmed in an official statement released this week that Creese submitted his resignation on June 30, with his final day of employment falling on July 31. No official explanation for his departure has been released by the institution.
The resignation comes just under one month after Trinidad and Tobago law enforcement and regulatory officials launched a probe into the June 25 cash seizure, where customs agents confiscated a white crocus bag holding $2 million in U.S. currency at the airport’s South Terminal. Investigations into the incident remain ongoing by the Trinidad and Tobago Police Service, more than a month after the cash was seized.
Per official records, the seized funds originated from NCB Merchant Bank and were en route to Miami via a stopover in Jamaica when they were flagged by Customs and Excise inspectors. Officials halted the shipment over what they described as “certain transactional and accountability deficiencies,” triggering the formal investigation. On July 2, Creese publicly confirmed that the seized funds were property of the bank, which has maintained that the cash was part of a standard, legitimate inter-institutional transfer within the broader NCB Group, aligned with established business protocols.
To maintain operational continuity following Creese’s departure, the bank has named Mahalia Alleyne, current Head of Operations, as acting CEO effective August 1. In its statement, the bank highlighted Alleyne’s deep institutional expertise, noting her intimate familiarity with the merchant bank’s daily operations, customer base, workforce, and risk profile. The appointment was framed as a measure to preserve stable leadership and uphold the bank’s commitment to responsible, well-governed operations. A formal, structured search process will be launched by the board of directors to identify a permanent successor for the CEO role.
Sheree Martin, interim CEO of Jamaica-based National Commercial Bank Ltd, the parent entity of NCB Merchant Bank Trinidad and Tobago, praised Alleyne’s leadership credentials. “Mahalia is a respected leader who understands our organisation, our people, our customers, and the operating environment in which we serve,” Martin said, adding that the appointment demonstrates the strength of the group’s internal leadership pipeline and ensures no disruption through the transition period. Martin also extended gratitude for Creese’s tenure, saying “On behalf of the NCB banking group, we thank Marli for his service and contribution to NCB Merchant Bank (Trinidad and Tobago) Ltd, and we wish him every success in his next chapter.” Martin emphasized that the group’s priority remains preserving stakeholder confidence, supporting customers and employees, and upholding the group’s longstanding standards of governance, service, and professionalism.
The bank moved quickly to reassure customers that the leadership transition will have no impact on customer accounts, banking services, relationship management, or day-to-day operations. Clients were advised to continue engaging their existing relationship managers and using the bank’s standard service channels as usual. “NCB Merchant Bank (T&T) Ltd remains committed to strong governance, regulatory cooperation, operational continuity, and maintaining the confidence of its customers, employees, regulators, and the wider public,” the statement read.
The cash seizure has already spurred regulatory action at the national level. A senior official with the Central Bank of Trinidad and Tobago confirmed that an institutional probe into the incident was launched shortly after the seizure, with a coordinating meeting held with customs officials in early July. In the wake of public scrutiny over U.S. currency export practices, the Central Bank announced it is preparing to strengthen oversight of cross-border cash shipments and foreign exchange reporting as part of planned reforms to the nation’s Exchange Control Act.
While declining to share specific details on the ongoing NCB case, the Central Bank confirmed that the investigation remains active. The regulator also defended its overall management of the country’s foreign exchange system, while openly acknowledging that improvements are necessary. “The Bank recognises that there are many areas of the management of the system that need to be strengthened and a number of initiatives will be rolled out in the coming months. This includes updating the Exchange Control Act,” the Central Bank said in a statement.
When contacted for comment this week, Central Bank Governor Larry Howai said he had no knowledge of Creese’s resignation and had “nothing to share at this stage” regarding the ongoing investigation into the cash seizure.