Norman Grindley, Staff Photographer
The signature blue and gold colours of NCB formed the backdrop, draping and a canopy over a packed National Arena, as Chairman Michael Lee-Chin shed his dark navy jacket during his address to the attentive audience.Barbara Ellington, Features Co-ordinator
Chairman of National Commercial Bank (NCB) and Chief Executive Officer of AIC Limited, Michael Lee-Chin, yesterday gave NCB staff the assurance that the proposed redundancy of some 864 employees will not take place during the next three months.
He was responding to a question from a member of staff about the proposed redundancy exercise, following his presentation to the bank's 2,600 workforce at the National Arena in Kingston.
Mr. Lee-Chin's assurance comes in the wake of last week Tuesday's acquisition by AIC of FINSAC's 75 per cent shareholding in NCB. From the sale price of US$127 million, US$56 million was transferred to FINSAC on Tuesday and the balance of US$71 million will be paid in equal installments over nine years.
However, the staff was mandated to each bring back 50 new customers to the bank every week under a new "Come back home" campaign because "I did not come here to lay off staff; if you are willing in the next three months to be more efficient, then I will review the situation thereafter," Mr. Lee-Chin said.
Questions and concerns from staff ranged from reopening the printery, maintaining the staff nursery, staff training, flexi-time, expansion into overseas markets, remuneration compared to competition, strategies to entice new customers and possible exchanges between AIC and NCB.
