NCB’s top duo on leave as Lee-Chin makes early return

The top duo of the NCB Financial Group is now on leave.

Group CEO Patrick Hylton, along with his deputy, Dennis Cohen, did not turn up for work on Monday.

Information is that they went on leave, effective Monday morning.

The move has raised eyebrows as there has reportedly never been a time previously when both have gone off at the same time.

The Gleaner understands that NCB Financial Group Chairman Michael Lee-Chin made the announcement during a hastily called Monday morning meeting, leaving stunned managers to relay the news to lower level staff.

Lee-Chin is returning as chairman of NCB Group at least a month early.

The NCB Group has four subsidiaries, NCB Jamaica, Guardian Group, Clarien and the entity that controls the Lynk digital wallet.

“This really is not about the bank itself,” said a company executive who asked not to be named as they were not authorised to speak on the matter.

“The biggest concern we have is that people may misconstrue this to mean it will affect the over 1.2 million NCB customers. This is not so.”

In the meantime, according to an individual close to group operations, there have been indications that Lee-Chin, the group’s majority shareholder, will be moving to replace one or more persons at the group level.

Lee-Chin, who was on three months’ leave of absence beginning late May, was not due to return until next month. In a late notice, posted on the Jamaica Stock Exchange, NCB Financial Group said Lee-Chin had “been able to attend to the matters that had occasioned the leave in less time than he had anticipated”.

Lee-Chin recently said he was uncomfortable with the fact that no dividends had been paid to shareholders for more than three years and sounded the alarm that he wanted to hold someone accountable.

Most calls to the NCB leadership went unanswered although those who were eventually contacted were not prepared to speak on record.