Published On: Thu, Dec 19th, 2013

Temporary new management at Giro Bank

Giro BankWILLEMSTAD - In connection with the emergency regulations applicable for the Giro Bank since last Monday, a new board has been temporarily appointed to manage the bank.

The management is now formed by the administrators Ersilia 'Zus' De Lannooy, Chris Peterson and reportedly Rochelle Monte.

The Supervisory Board has been adjusted. Eric Garcia, general manager until the emergency regulations, is now part of the Supervisory Board together with Gregory Damoen, Dieudonne 'Neetje' van der Veen and Philip Martis.

“The emergency regulation implies that the Central Bank of Curaçao and Sint Maarten (CBCS) pursuant to the aforementioned national ordinance will exercise all power and authority of the directors and auditors of the institution,” CBCS declared.

The emergency regulations for the Giro Bank, based in Curaçao and Bonaire, was for many the talk of the town. The emergency regulation is primarily to protect depositors (savers and current account holders) and creditors of the bank.

The Central Bank emphasizes that the Giro Bank will continue with its normal operations despite the emergency regulations. However, the emergency regulations will allow the CBCS to take internal measures to ensure that Bank Giro meets all legal requirements and rules which apply to a bank.

De Lannooy is best known as a former Minister of Finance of the Netherlands Antilles and therefore Commissioner of Finance for the island territory of Curacao, but before she became Minister she was employed at the Giro Bank.

Peterson has in the past often acted as agent on behalf of the CBCS. Monte is already working at the bank. Van der Veen and Martis were already members of the Supervisory Board.

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