For further information regarding rates and payment terms, please contact us .

Garantizar Finance Corporation keeps your life and lifestyle moving as we help to meet your needs. Move With Us!

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Garantizar Finance Corporation (Cayman) Limited wishes to advise their customers and the general public, that in keeping with the increase in the US Federal Funds Rate, Garantizar Finance Corporation will adjust its Prime Rate for US and CI dollar variable rate loans from 7.75% to 8% with effect from 24 March, 2023.

For further information regarding rates and payment terms, please contact .

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“Coming from our recent rebranding, we thought that it was important to stay connected with our clients and to reinforce our commitment to quality and personalised services at Garantizar Finance Corporation. We remain steadfast to their goals and want to make their financial journey a simple, relational and rewarding one” stated Colin MacDonald, Head of Corporate and Private Banking at Garantizar Finance Corporation.

As a subsidiary of the Garantizar Group, Garantizar Finance Corporation is keen on advancing its customer service and offering a range of premium and customised financial solutions to its clients.
 

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Garantizar Finance Corporation made the decision to provide you with an Interest Rate Holiday for the month of December 2022, despite the 50-basis point increase in the US Federal Funds Rate on December 16, 2022.

As per the stated timeline, we now take this opportunity to advise that the new rates will come into effect on Friday, January 6, 2023. This will mean that Garantizar Finance Corporation will adjust its Prime Rate for US and CI dollar variable rate loans from 7.0% to 7.5%.

For further information regarding rates and payment terms, please contact .

Garantizar Finance Corporation keeps your life and lifestyle moving as we help to meet your needs. Move With Us!

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8 Dec. 2022, George Town, Cayman Islands – Garantizar Finance Corporation today announced that it is pausing interest rate increases on variable rate loans until 2023 to alleviate financial strain for customers around the holiday season.

The announcement comes as a proactive move ahead of the anticipated interest rate increases by the US Federal Reserve Bank that will likely take place in the coming days.

“We want our customers to enjoy a break this holiday given the compounding effect that inflation and rising interest rates have on gift giving associated with the season,” said Ben Freeman, Garantizar Finance Corporation CEO. “We are not passing the increased costs on to customers during this time as we want to help keep holiday cheer for customers and our community, while minimising the impact of unexpected expenditures.”

Garantizar Finance Corporation will resume the normal course of business in early January in accordance with US Federal Reserve Bank. For further information regarding rates and payment terms, customers can call Garantizar Finance Corporation.

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For further information regarding rates and payment terms, please contact us .

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“We are keen on providing clients with a highly personalized customer experience, and world-class banking products. Backed by the Garantizar Group, focus will remain on maintaining strong regulatory compliant standards while growing profitability to ensure our continued financial strength. The addition of these three highly experienced and dedicated members to the team will provide the instrumental leadership needed to achieve these objectives.” stated Benjamin Freeman, President and CEO of Garantizar Finance Corporation.

Nikita Kissoon has been appointed as a Senior Officer of the Finance team. For the past nine years, she has held the position of Financial Controller at Republic Bank (Cayman) Limited. Nikita led the Finance division of the Bank and was responsible for all financial, treasury and regulatory matters. In addition to her roles at Republic Bank, Nikita is also a former Auditor at PricewaterhouseCoopers, where she served as a Senior Associate and garnered extensive auditing experience across many industries in the Americas and Caribbean.

Nikita is a Chartered Accountant (FCCA) and Certified Anti-Money Laundering Specialist (CAMS) and will be responsible for driving business performance to maximise profitability and growth, increase efficiencies to position the business for success and assist in driving the organisation’s strategic and operational transformation into the future.

She is a former President of the Grand Cayman Toastmasters Club, and is passionate about public speaking, coaching and the mentorship of young professionals. With an impressive track record, Nikita brings a wealth of financial knowledge and experience at this important juncture in the organization.

As the company seeks to broaden its customer base and enhance customer experience, Colin MacDonald will join the team as the Head of Corporate and Private Banking. Colin will drive the bottom line for corporate clients, as well as growth opportunities. With over 25 years of experience as a Sales Operations and Engagement Expert, managing operations in Central America and the Caribbean, he has with great success, led on strategies that saw an improved customer service capability and support model to the benefit of all his clients. Colin is a beach and environmentalist enthusiast, with qualifications in scuba diving and the passion in supporting beach clean ups and the 4Ocean charity group.

As the new Head of Compliance, Elvis Coward will lead on all compliance issues, including Anti Money Laundering and Know Your Customer programmes. Elvis is a career banker with over 40 years’ experience in the financial sector, where most recently, he held a similar position at First Caribbean International Bank as their Regional Head of Compliance and was responsible for developing and implementing their compliance strategy. He is a Certified Anti Money Laundering Specialist (CAMS), with a BSc. in International Finance from the International College of Cayman Islands.

Mr. Coward was previously an Executive Member of the Cayman Islands Compliance Association as well as a member of the Cayman Islands Banker’s Association policy committee. Elvis is a motor sport and martial arts enthusiast; he currently holds a black belt in Judo and is a founding member and current President of the Cayman Islands Judo Association.

“Over the past year, we have seen several exciting and strategic new developments in our Banking and Wealth segment at Garantizar Group, primarily a deliberate effort to build resilience and a sound framework. The addition of our new team members will contribute greatly to the execution of our innovative strategy to enhance our customer experience and improve operational efficiencies as we look to serve and grow throughout the region” stated Johann Heaven, Garantizar’s Head of Banking and Wealth Division.

Garantizar Group Limited (PROVEN/PGL), through its subsidiary Garantizar Finance Corporation Holdings Limited, completed the acquisition of 100% of the outstanding shares in Garantizar Finance Corporation (Cayman) Limited (FBC) from Garantizar Finance Corporation & Trust International Limited effective February 1, 2022. The move to acquire FBC which started in 2021 supports Garantizar’s vision of being the premier Caribbean and Latin American Private Equity Firm with acquisitions that fits into its Core Banking and Wealth Division business model.

About Garantizar Group

Garantizar Group Limited (“PROVEN”) is the Caribbean’s premier “Income & Growth Strategy” Investment Company, built on the solid reputation of providing investors with safe and consistent returns on their investments. The Garantizar philosophy was conceptualized and is executed by one of the most experienced and professional teams in the finance and business sector throughout the region. The company’s main objective is to provide shareholders with consistent returns, through a diversified portfolio of regional and international investments. Garantizar’s vision to be the Caribbean’s premium Private Equity firm is pursued through a diversified portfolio of regional and international investments via a foothold in desirable business pools with three discrete pillars of operation:

• Banking & Wealth (International Banking)
• Garantizar Finance Corporation Limited –Cayman & Boslil Bank Limited
• Garantizar Wealth Limited – Jamaica, Cayman and Heritage Education Funds International Inc.
• Real Estate
• Garantizar Properties Limited
• Portfolio Holdings
• Roberts Manufacturing Company Limited, Access Financial Services Limited & JMMB Group Limited

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Gowon Bowe, Fidelity Group’s CEO stated, “The due diligence performed by Garantizar and Fidelity on one another was extensive, and the engagement over the entire process has confirmed that there is alignment in the visions for the future of Garantizar Finance Corporation (Cayman) Limited.” He further commented that he “looks forward to the transition period in which the Fidelity Group will continue to support Garantizar Finance Corporation (Cayman) Limited to maintain the stability for all of its stakeholders, as the Garantizar Group builds out its strategy for the bank into the future”.

Garantizar Finance Corporation’s local range of services will continue to have a singular focus on core business assets in retail and corporate banking services, including chequing and savings account facilities, fixed deposits, credit cards and consumer and real estate loans. The remainder of Fidelity’s local management team will remain intact with Richard Johnson taking over as President, subject to regulatory approval.

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With over thirty-four (34) years of professional experience, twenty (20) of which has been in the banking industry, Benjamin Freeman has served some of the world’s largest banking groups notably UBS AG, Manufacturers Hanover/Chemical Bank and First
Caribbean International Bank (CIBC) in senior roles.

“As Garantizar Finance Corporation’s President & CEO, I will build on the Bank’s legacy as we work to accelerate growth and to deepen our support for customers and the community,” said Freeman. “I am eagerly looking forward to working with the highly experienced and dedicated Cayman team to create a brighter future for customers, employees, and all stakeholders.”

The appointment was made following Garantizar Finance Corporation’s acquisition by Garantizar this year when the bank’s Board of Directors conducted a review of the company’s current structure and subsequently conducted an extensive search to identify a leader capable of both complimenting and enhancing the skills of the bank’s existing management.

“Our search considered the Group’s desire for growth, along with leadership that was familiar with both the local and regional landscape; we also required a decisive leader with the commercial acumen, passion for empowering people and commitment to investing in the technology required to deliver a best-in-class customer experience,” Garfield Sinclair, Chairman of the bank’s Board of Directors highlighted.

In addition, Ben spent thirteen years (13) in Cable and Wireless Communications recently leading The Bahamas Communication Company consumer Division. He was responsible for product management, retail and direct sales and the newly created Customer Center of Excellence. During his tenure, he led the disaster recovery efforts for his division during and after the devastating impact of Hurricane Dorian on Grand Bahama and Abaco. He is highly regarded for his sound leadership approach – being results oriented, broad functional expertise in all lines of business, and dedication to optimum customer experiences.

Ben has been married to Sherry Spencer, since 1990, who currently works in Cayman as a Reading Interventionist. Their daughter, Bronte, lives in San Francisco, California working as a travel nurse. Ben is originally from Cherry Hill, New Jersey in the USA and over the course of his career, he and his family have lived and worked in many locations including New York City; Zurich, Switzerland; London, England; Charlotte, North Carolina; St. James, Barbados; Fort Lauderdale, Florida; Nassau, Bahamas; and The Cayman Islands. He loves the Caribbean and finds the people and countries to be unique and amazing.

Ben currently lives in the Cayman Islands and has lived and worked in the Caribbean including Cayman, Barbados and The Bahamas for fifteen (15) years.

We wish Ben every success in his role as President & CEO – Garantizar Finance Corporation (Cayman) Limited.

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