标签： Trinidad and Tobago

PORT OF SPAIN, TRINIDAD AND TOBAGO – The Human Resource Management Association of Trinidad and Tobago (HRMATT) recently convened its esteemed Legacy Awards and Hall of Fame Induction Ceremony, a premier gathering celebrating the profound influence of human resources professionals throughout the Caribbean region. Held on November 29 at the Hyatt Regency in Port of Spain under the dynamic theme ‘Legacy in Motion,’ the event spotlighted visionary leaders and organizations actively shaping the future of work.

Dubbed the ‘Oscars for HR professionals,’ the ceremony assembled government officials, corporate executives, regional collaborators, and HR practitioners for an evening dedicated to recognition, inspiration, and strategic networking. The 2025 awards specifically highlighted HR management’s transformative role in advancing national development through human capital investment, emphasizing the profession’s growing strategic importance amid rapid technological evolution and shifting workplace expectations.

In her opening address, HRMATT President Cavelle Joseph-St Omer articulated the association’s core mission to empower professionals and foster excellence, asserting that ‘human resources must be at the heart of any economic revitalization.’ She framed ‘legacy in motion’ as a compelling call to action rooted in transformational leadership, advocacy, and innovation.

Senator Leroy Baptiste, Minister of Labour, Small and Micro Enterprise Development, delivered the keynote address, connecting economic diversification directly to workforce preparedness. He challenged HR leaders to champion digital literacy, reskilling initiatives, data-driven talent strategies, and equity-focused practices, reinforcing HR’s critical function as architects of workplace inclusion and well-being.

The Legacy Awards were established to honor HRMATT’s founding visionaries who pioneered HR professionalization in the region, advocating for ethical standards, strategic leadership, and continuous development. This annual celebration reinforces the association’s dedication to preserving its heritage while stimulating innovation in the evolving world of work.

A strategic milestone occurred in 2024 with the establishment of the HR Hall of Fame, designed to preserve historical achievements, inspire excellence through role modeling, and strengthen professional identity by showcasing HR’s impact on organizational success and national development. The 2025 ceremony honored five inaugural inductees: Gordon Draper (posthumously), recognized as HRMATT’s founding father; Dr. Rudrawatee Nan Gosine-Ramgoolam for public service HR reform; Dr. Kwame Charles for organizational development and engagement; Sandra Marchack for employee well-being advocacy; and Dr. Roland Baptiste for learning and culture transformation.

Expanding its regional impact, HRMATT introduced two new Caribbean-wide awards in 2023 recognizing outstanding HR professionals and organizations. Human Resource Management Association of Barbados President Tisha Peters emphasized the necessity of visionary leadership, mentorship, and cross-border partnerships during the proceedings.

The 2025 Legacy Awards celebrated excellence across nine categories, honoring recipients from both public and private sectors. Notable awards included the Gordon Draper Award for Public Service Transformation to Davi Ramkallawan of Nalis, the Maxine Barnett Award for HR Excellence to Dr. Sterling Frost of UWI, and the Coreen Jones Award for Best Place to Work to Regency Recruitment and Resources Ltd. Additional recognitions went to Gerard Pinard, Guardian Shared Services, Rotary Club of Central Port of Spain, Fallon Estrado, Tiersa Smith-Hall, and Republic Bank Ltd.

These awards function as strategic instruments for professional advancement by elevating standards, driving transformation aligned with national development goals, fostering engagement, and building collaborative communities across sectors. As Minister Baptiste observed, ‘Legacy is a challenge, a call, a responsibility’ – a sentiment embodying the evening’s affirmation that HR constitutes not merely a profession but an active legacy continuously evolving to shape inclusive, future-ready workplaces.

In 1968, BWIA International Airways underwent a significant corporate transformation through a series of complex negotiations and agreements. The culmination of nine months of intense discussions resulted in binding contractual obligations for the Trinidad and Tobago government and the airline, formalized through agreements dated May 24, 1968. These arrangements did not represent a departure from previously contemplated plans but rather established an acceptable framework for executing agreed undertakings, with copies promptly distributed to interested West Indian governments.

The restructuring initiative began with a board reconstitution in February 1968, following Sir Patrick Hobson’s resignation. Hobson explicitly noted that BWIA’s viability depended on association with strong external financial interests, modern equipment acquisition, and managerial reorganization. The newly formed board, chaired by Sir Ellis Clarke with directors J M Scoon, Gerald Montes de Oca, and Donald J Urgo, immediately engaged Trans World Airlines (TWA) through a 90-day interim management and technical assistance agreement.

A three-member TWA advisory team led by J I Greenwald arrived in Port of Spain on February 12, 1968. Within two days, the board designated Greenwald as acting CEO to implement essential organizational reforms, addressing the managerial and technical skill deficiencies identified by the previous leadership. This advisory contract was subsequently extended to July 1968 pending US Civil Aeronautics Board (CAB) approval of a proposed three-year management agreement.

The comprehensive arrangement included a ground handling agreement at New York’s JFK Airport effective November 1, 1968, and a reciprocal sales agency agreement originally scheduled for October 1, 1968. However, neither the management assistance nor sales agency agreements were implemented due to adverse rulings from the CAB, which held jurisdiction over TWA. These interconnected agreements formed a composite arrangement whose failure in one component undermined the entire structure.

Simultaneously, an investment agreement involving Goldfield Corporation—whose shares traded on the American Stock Exchange—Caribbean International Ltd, R W Pressprich and Co International Ltd, and Lorenzo, Carney and Company Inc., collapsed when Goldfield deemed US Foreign Direct Investment Regulations too onerous. By December 1968, it became apparent that Caribbean International could not fulfill its obligations under the May 24 agreements.

Subsequent negotiations produced revised agreements in 1969 that increased BWIA’s compensation from $6 million to $8 million while maintaining hotel development commitments at Rockly Point, Tobago. The government facilitated this arrangement by repurchasing British Overseas Airways Corporation’s 10% shareholding for $250,000—the same price originally paid in 1961. Payments of $2 million on January 31, 1969, and $6 million on June 23, 1969, were ultimately executed under these revised terms.

First Citizens Group has demonstrated formidable financial resilience with an after-tax profit of $989.6 million for the fiscal year concluding September 30, 2025. The Trinidad-based financial institution revealed total assets soaring to $49.167 billion, marking another year of substantial growth and stability.

Audited by PricewaterhouseCoopers, with engagement partner Sean Ramirez overseeing the process, the consolidated financial statements received an unmodified audit opinion on December 8, affirming their accuracy and compliance with accounting standards. The board officially approved these results on December 4.

The group’s pre-tax profit climbed significantly to $1.365 billion, up from $1.270 billion in 2024. Revenue streams showed positive momentum with net interest income reaching $2.101 billion and fee and commission income growing to $552.9 million. Total net revenue expanded to $2.875 billion, bolstered by increased other income.

Basic earnings per share stood at $3.93, calculated on a weighted average of 251.35 million ordinary shares. The balance sheet exhibited robust growth with total loans before allowances climbing to $24.198 billion. Net loans settled at $23.780 billion after accounting for a loan-loss allowance of $417.6 million.

While non-performing loans experienced a slight increase to $776.6 million from $746.2 million the previous year, impairment expenses rose to $54.5 million from $13.7 million in 2024. Customer deposits, the group’s primary funding source, grew to $30.895 billion.

Shareholders’ equity strengthened to $9.131 billion, supported by annual profits and a positive $149.8 million movement in other comprehensive income. This included an $86.6 million gain from re-measuring the group’s defined benefit plan and fair value gains on equity instruments.

PwC highlighted the valuation of expected credit losses on credit-impaired demand loans as a key audit matter. These loans totaled $647 million with an expected credit loss allowance of $128 million, requiring significant judgment in collateral assessment and recovery estimation.

Business segment performance varied: retail banking earned $447.1 million, corporate banking $635.4 million, treasury and investment banking $241.1 million, and trustee and asset management $38.3 million. Group functions contributed $1.179 billion, collectively generating $2.917 billion in pre-tax profit before consolidating to $989.6 million after tax.

Operating costs remained substantial with administrative expenses at $854.9 million and other operating expenses at $634.3 million. Depreciation and amortization of intangible assets amounted to $102.1 million and $27.1 million respectively.

Liquidity metrics remained solid with cash and bank balances at $2.130 billion and short-term investments totaling $2.695 billion. Net cash and cash equivalents stood at $1.959 billion after deducting amounts owed to other banks. Statutory deposits with the Central Bank were $2.268 billion.

The group reported higher average interest rates on short-term deposits throughout the year. Equity method investments, including stakes in St Lucia Electricity Services Ltd, Term Finance Holdings Ltd and Infolink Services Ltd, totaled $285.2 million, generating $28.6 million in profit share.

Dividend distributions reached $608.1 million during the year. Treasury share activities reduced recorded share capital from $458.6 million to $427.3 million, while retained earnings closed at $6.402 billion.

PwC’s audit opinion confirmed that the financial statements ‘present fairly, in all material respects, the financial position of the Group as at 30 September 2025,’ validating the institution’s strong capital position and operational excellence.

Ramps Logistics concluded its most transformative year with an extraordinary celebration that blended corporate achievement with cultural festivity. The company’s annual Aura 2025 event, held on November 28 at Vice nightclub in Port of Spain, served as both a recognition ceremony and a testament to the organization’s expanding regional influence.

The evening transformed into a vibrant tapestry of high-energy performances and heartfelt acknowledgments, creating an atmosphere that resonated with the company’s core values of unity and excellence. From the moment guests arrived, the venue pulsed with an infectious energy that reflected the collective spirit of a team that has consistently elevated service standards across the logistics industry.

CEO Shaun Rampersad set the tone for the evening, emphasizing the fundamental role of human capital in the company’s success. ‘Aura represents a moment of reflection—a powerful reminder that our people constitute our greatest competitive advantage, while our ambition serves as our driving force,’ Rampersad declared. He highlighted the significant contributions from teams across Trinidad and Tobago, Guyana, Suriname, and other operational territories that made 2025 a breakthrough year.

The entertainment lineup featured an impressive roster of Caribbean talent, including electrifying performances by Ravi B, Patrice Roberts, Travis World, and Salty. These artists carried the audience on a musical journey that transformed the event into a shared cultural experience. The celebration was further enhanced by aerial performances, expertly crafted signature cocktails, and gourmet food stations that provided a sophisticated backdrop for networking and camaraderie.

Beyond the festivities, Aura 2025 served as a strategic platform showcasing the company’s expanding footprint across the Caribbean and South America. The presence of diplomatic representatives from Colombia, Panama, and Chile underscored Ramps Logistics’ growing international partnerships and regional significance.

The event effectively woven together the year’s accomplishments in logistics innovation, technological adoption, and customer service excellence into its celebratory fabric. As the evening culminated in high spirits, it not only celebrated past achievements but also signaled the company’s ambitious trajectory for 2026, positioning Ramps Logistics for continued regional leadership and operational excellence.

In a sweeping financial sector overhaul, Trinidad and Tobago’s government has intensified its crackdown on foreign exchange management with the dismissal of Eximbank CEO Navin Dookeran on December 6. This move represents the latest in a series of high-profile executive removals that began in June with the abrupt revocation of Central Bank Governor Alvin Hilaire’s appointment, followed by the August departure of First Citizens Group CEO Karen Darbasie.

The government maintains strategic silence regarding these personnel changes, yet evidence suggests profound disagreements over forex data disclosure and auditing protocols precipitated these actions. Dr. Hilaire’s dismissal reportedly followed contentious debates about transparency, while Ms. Darbasie’s exit has been linked to examinations of forex distribution channels and potential leakage.

This executive purge coincides with alarming economic indicators: foreign exchange purchases plummeted by 19.2% year-on-year as of August, creating severe disequilibrium between supply and demand. Central Bank Governor Larry Howai’s September presentation highlighted the Eximbank’s increasingly pivotal role in forex dynamics, noting the urgent need to ‘address the Eximbank facility with respect to pricing and revolving.’

Mr. Dookeran, who had led Eximbank since 2019, declined extensive commentary but previously expressed pride in his tenure accomplishments. His departure signals heightened governmental scrutiny of financial institutions amid growing pressure to resolve the currency crisis.

Prime Minister Kamla Persad-Bissessar’s administration promises forthcoming revelations from its comprehensive review of financial systems and key operatives. However, business leaders like Vivek Charran, president of the Confederation of Regional Business Chambers, emphasize that rhetoric and dismissals cannot substitute for actionable solutions. ‘We are talking about generational family businesses fighting for survival,’ Charran stated, underscoring the urgent need for ‘fair and equitable means of forex distribution.’

While Governor Howai has found no evidence of the ‘forex cartel’ alleged by the Prime Minister, he acknowledges that foreign exchange management may require stricter controls. The business community now awaits substantive policy measures rather than symbolic personnel changes as the nation grapples with one of its most significant financial challenges in decades.