Overview

First Citizens Investment Services Limited (FCIS) gives you personal access to global opportunities. Our financial strength, matched by our industry expertise, keeps your portfolio ahead of the market.

Our Research Unit has become renowned for the world class analysis and thought leadership. We produce periodic publications on diverse economic and financial topics in all of the territories in which we operate.

Bond Trading

We are the leaders in bond trading at First Citizens Investment Services Limited.
With an active experienced bond trading desk, our traders liaise with key
international brokerage houses and receive up to the minute market information
and insights. This allows clients to diversify their portfolio away from solely equities
to local, international, sovereign and corporate exposures.

Benefits

  • Access to a wide range of local and international fixed income securities
  • Competitive pricing, no fees attached
  • Quick execution of trades
  • Real time market information

Fixed Income Paper (FIP)

This repurchase agreement is backed by a debt instrument issued by a
government or corporation.

Benefits:

  • Securities pledged with the Central Bank of Barbados/Trustees of Corporate Bonds
  • Competitive rate of return
  • Relatively low risk (refer to the brief description of risk outlined in Risk Disclosure section)
  • Fixed rate of return
  • Low initial minimum investment of BBD$15,000.00
  • No fees
  • Upon maturity, your funds can be paid via an Automatic Clearing House (ACH) payment and cheques.

Click here to download our full Prospectus on EC Fixed Income Paper Investments / Repurchase Agreements

Local Brokerage Services

We actively trade in equities through our branch, First Citizens Investment Services Ltd – Barbados — a member of the Barbados Stock Exchange (BSE), thereby ensuring that we provide a complete range of services which
cater to your investing needs.

Commissions and Fees

  • BDS $1.00 to $10,000.00 a commission charge of 2% of the value is applied.
  • BDS $10,001.00 to $25,000.00 a commission charge of 1.5% is applied.
  • BDS $25,001.00 and above a commission charge of 1% is applied
  • BSE charges a commission fee of 0.25% on the value of the shares.
  • BSE charges a commission fee to the seller (only) of 0.10% of the nominal value of the bond or a minimum of $10.00
  • FCIS’ Brokerage fee for bond transactions is 0.5% of the nominal value of the bond.

We are located at:

One Welches
Welches
St. Thomas
Tel: (246) 417-6810
Email: invest@firstcitizensbb.com

Global Investment Solutions

First Citizens Investment Services Limited has partnered with Pershing LLC, a Bank of New
York Mellon subsidiary, and the industry’s leading business solutions provider to bring you
international trading access at your fingertips through a robust, user-friendly platform.

Benefits

  1. Secure method of trading on your own in US markets
  2. Access to equity and bond instruments on the US, Canada andother international markets
  3. Low initial account minimum of US $10,000*
  4. Option to trade on your own or with guidance

*Don’t have USD, but another available hard-currency? Contact one of our Wealth Management personnel to get advice on how to proceed.

Fees

Trading on your own (US markets only)

  • 0.65% of the value of the trade with a US $35 minimum
  • US $2 custodian fee for securities held in a non-US market per month
  • US $100 re-activation fee

Trading with guidance (US and most international markets)

  • 0.95% of the value of the trade with a US $35 minimum
  • US $2 custodian fee for securities held in a non-US market per month
  • US $100 re-activation fee

Managed Accounts

A portfolio of investments created especially for you with your financial goals and
needs in mind. We assess your risk appetite along with your investment time
horizon and recommend a portfolio that you are comfortable with.

Benefits:

  • Expert management by a team of professional portfolio managers and analysts
  • Diversification through asset allocation and access to global markets
  • Assignment of a dedicated Wealth Manager for consultation on your portfolio

Fees:

  • From 1.5% per annum

Minimum investment: US $146,500.00

Risk Profile Calculator

Board of Directors

Mr. Anthony Isidore Smart (Chairman)

Anthony Isidore Smart graduated from the University of Toronto, Canada with a Bachelor of Arts Degree (General), majoring in Economics.

He is an Attorney-at-Law who has been in private practice for 48 years, for 30 of which he led the law firm of Gittens, Smart & Company. He was an elected member of the House of Representatives of the Parliament of Trinidad and Tobago from December 1986 to November 1991.

At various times between January 1987 and February 1989 he was the Deputy Speaker of the House of Representatives, Minister in the Office of the Attorney General, Minister in the Office of the Prime Minister, and Chief Whip in the House of Representatives. He was Attorney General of Trinidad and Tobago from March 1989 to November 1991.

Mr. Smart was a tutor in Family Law at the Hugh Wooding Law School in the 1970s and was personally responsible for drafting the Code of Ethics for Ministers and Members of Parliament which was laid in the House of Representatives in 1988.

Mr. Smart was appointed as Chairman of the Board of First Citizens Bank Limited on June 17, 2014 and subsequently as Chairman of First Citizens Investment Services Limited, First Citizens Bank (Barbados) Limited, First Citizens Costa Rica S.A., First Citizens Holdings Limited and First Citizens Portfolio and Investment Management Services Limited.

He also served as Executive Chairman of First Citizens Bank Limited from December 4, 2014 to April 7, 2015. He was inducted into the Fatima College Hall of Achievement for Public Service in 2015.

Ms. Karen Darbasie (Director)

Karen Darbasie is an accomplished senior executive with over three (3) decades of experience in the financial services and telecommunications industries with a progressive leadership style underscored by excellence and vision. Prior to her appointment at First Citizens in April 2015 as Group Chief Executive Officer, Ms. Darbasie held several senior positions at a global financial institution based in Trinidad and Tobago, including Managing Director of the Merchant Bank, Country Treasurer and Markets Head.

Her local and international qualifications, which include a Bachelor of Science (BSc) degree in Electrical Engineering with First Class Honours from The University of the West Indies, a Master of Business Administration (MBA) with distinction from the University of Warwick and a Master of Science (MSc) with distinction from the University of Essex, allow her to draw from an extensive academic background, bolstered by an innate technical business acumen. Ms. Darbasie serves as a Director on several Subsidiary Boards within the First Citizens Group. A former Director of the Board of the American Chamber of Commerce of Trinidad and Tobago (AMCHAM), Energy Chamber of Trinidad and Tobago and St. Lucia Electricity Services Limited (LUCILEC), she currently serves as President of the Bankers Association of Trinidad and Tobago and Chairman of Trinidad Nitrogen Company Limited.

Professor Sterling Frost (Director)

Professor Sterling Frost has three decades of global corporate career experience in North America, Latin America and the Caribbean region. He is an International Management Executive who has held senior positions in the financial services sector in a range of areas including Retail and Commercial Banking, Operations Management, Public Affairs and Human Resource Management. Before joining the First Citizens Group in 2016 as Deputy Chief Executive Officer – Operations and Administration, he served as Director of Human Resources at the Miami-based Citibank Latin America Head Office. There, he had oversight of 12,000 employees across 13 countries in the Central American and Caribbean region, serving 1.2 million clients.

His past directorships include financial institutions across Trinidad and Tobago, Panama, Nicaragua and Honduras. He currently serves on the Boards of several subsidiaries within the First Citizens Group. Dr. Frost has a Master’s degree and a Doctorate in Business Administration from The University of the West Indies (The UWI). In February 2019, he was appointed Professor of Practice: Management Studies at The UWI, St. Augustine, in recognition of his professional competence, distinguished practice, notable teaching and service contributions.

He is the recipient of The UWI Inaugural Distinguished Alumni Award conferred in 2011 on high-performing individuals who consistently operate at world-class levels. Dr. Frost is also a University of California Berkeley certified Executive Coach, which has conferred the critical soft skills leaders require today. Dr. Frost has consistently been committed to the transfer of knowledge and strategies for change that builds efficiencies across several sectors through his post graduate teaching contributions at The UWI since 2004 to present. He is First Examiner and Adjunct Lecturer at The UWI for several courses in both undergraduate and postgraduate programmes. He specializes in the areas of Organizational Behaviour and Development, Human Resource Management, Cross-Cultural Management, Strategic Planning and Strategic Leadership and Change Management. He is committed to advancing optimal national development for all sectors through his contribution to various government, academic and civil society organizations as reflected in his Chairmanship of The Lydian Singers, as Chair of The UWI Faculty of Social Sciences Advisory Board, Chair of The UWI Institute for Gender and Development Studies External Advisory Board and Deputy Chair of the Public Service Commission. He also serves as Director of the Board of the Foundation for Enhancement and Enrichment of Life (FEEL) and Director of The UWI Development and Endowment Fund.

Mr. Idrees Omardeen (Director)

Idrees Omardeen became a member of the Association of Chartered Certified Accountants (ACCA) in 2004, five years after which, his expertise in the field granted him Fellow Membership status within the Association. With a keen eye for management, Mr. Omardeen operates the Omardeen School of Accountancy Limited, a family owned business.

At the school, Mr. Omardeen lectured all levels of accounting–from entry level to professional level. He also works in his family’s accounting practice and manages the property rentals as well as events and the family’s auditorium. Mr. Omardeen has recently started a new venture, or as he puts it – adventure, in the making of the finest blends of coffee for export and local consumption.

Mr. Omardeen was appointed as a Director of First Citizens Bank Limited on June 17, 2016 and subsequently as a Director on the Boards of First Citizens Investment Services Limited, First Citizens Depository Services Limited and First Citizens Brokerage and Advisory Services Limited.

Mr. Ryan Proudfoot (Director)

Ryan Proudfoot holds a Bachelor of Arts Degree (with Hons) in Accounting from the University of Kent at Canterbury, UK and a Masters of Business Administration in International Management from the University of Exeter, UK.

Mr. Proudfoot is the majority shareholder of Total Office, a Trinidad & Tobago headquartered group that helps Architects, Designers and Corporate Clients create great space’s throughout the English speaking Caribbean. From Jamaica in the north to Guyana in the south and another ten countries in between, the Total Office Group serves a population of six and a half million people.

Prior to this, Mr. Proudfoot had a highly successful career in banking, holding the positions of General Manager, BNB Finance & Trust Corporation and General Manager, BNB Treasury with Barbados National Bank Inc. (renamed Republic Bank (Barbados) Limited; and a subsidiary of Republic Bank Limited).
Mr. Proudfoot joined BNB after serving as Business Head and Vice President, Citicorp Merchant Bank Limited (Barbados Branch) where he was responsible for the re-establishment of Citibank in Barbados.
Mr. Proudfoot started his career at Citibank Trinidad as a Relationship Manager in Corporate Banking where he served for five years before moving to Barbados.

He was appointed to the Board of First Citizens Bank Limited on July 3, 2014 and subsequently as Chairman of the Board of First Citizens Investment Services (Barbados) Limited and First Citizens Brokerage and Advisory Services Limited, and a Director on the Boards of First Citizens Investment Services Limited, First Citizens Bank (Barbados) Limited and First Citizens Portfolio and Investment Management Services Limited.

Mr. Troy Garcia (Director)

Troy Garcia holds a Bachelor’s Degree in Business Administration from Stetson University, Florida, USA.

With over 24 years of experience and success in the fields of business and entrepreneurship, he is the Chief Executive Officer of Parts World Limited, Managing Director of High Performance Coatings and Honorary Consul General of Finland for Trinidad and Tobago.

Mr. Garcia was appointed to the Board of First Citizens Bank Limited on June 16, 2016 and subsequently to the Boards of First Citizens Investment Services Limited and First Citizens Depository Services Limited

Ms. Jayselle Mc Farlane (Director)

Jayselle McFarlane is a member of the Association of Certified Chartered Accountants (ACCA) holds an MBA and has experience in various sectors such as financial services, construction, hospitality and manufacturing. Her career as a Consultant emanated from over 23 years of diverse experience; with her functioning in leading roles at various international/multinational companies. As a Chartered Accountant, she was able to hold the offices of Finance Analyst, Financial Controller and Corporate Secretary in these international/multinational companies.

Ms. McFarlane is currently pursuing the Forensic Certified Public Accountant Qualification at Caribbean Institute of Forensic Accounting [CFA].

She was appointed to the Board of First Citizens Bank Limited as a Director on June 16, 2016 and subsequently as Deputy Chairperson on the Board of First Citizens Depository Services Limited and as a Director on the Boards of First Citizens Holdings Limited and First Citizens Investment Services Limited

Mr. David Inglefield (Director)

Mr. David G Inglefield’s business career has spanned 46 years in Trinidad and Tobago, Suriname, Guyana, Barbados and the USA.

Beginning in 1969 at Trinity Advertising Limited, he became Managing Director in 1978 and in 1981 acquired and merged the business with Corbin Compton Caribbean, was appointed CEO in 1982 where he remained until he resigned in 1993 and founded Inglefield, Ogilvy & Mather Caribbean Limited. During this period, he taught the third-year advertising and communications course at UWI.

Recognised as one of the leaders in the Caribbean on Strategic Business and Brand Development, in October 2003, he brought his considerable knowledge and experience to the ANSA McAL Group as a Parent Board Director and member of the Group’s Executive Committee. As Group Marketing Director, he played a decisive role in the acquisition of the Bryden’s Business Group in Barbados and its successful integration into the Group’s distribution business in Barbados.

During the period 2005 to 2015, Mr. Inglefield served in various capacities within the ANSA McAL Group including Group’s Distribution Sector Head. In 2007 he was appointed President/CEO of ANSA McAL (Barbados) Limited with responsibility for approximately $2 billion of assets under management. Returning to T&T in 2011, he took up the position of Sector Head Executive Chairman of Guardian Media Limited as well as Chairman of the four operating companies in the ANSA McAL Group’s Services and Retail Sectors.

Mr. Inglefield retired from the ANSA McAL Group in June 2015 and is now an active business consultant to major businesses in the State and private sector, including the ‘heavy’ manufacturing and petrochemical sectors. He also retains a consultancy role in the ANSA McAL Group.

He was appointed a Director of the Board of Trinidad Cement Limited (Cemex) and a member of the Board Audit and Governance Committees in 2016. Mr. Inglefield was appointed Chairman of the TCL Group in October 2019.

He also serves as a Board member of First Citizens Bank Limited, a Director of First Citizens Trustee Services Limited, First Citizens Investment Services Limited and First Citizens Bank (Barbados) Limited; and serves on the First Citizens Group HR and Audit Committees.