BRADES, MONTSERRAT (July 11, 2025) – The Bank of Montserrat Limited (BoML) has confirmed the election of five directors to its Board at the 31st Annual General Meeting (AGM) held on Thursday, July 10, 2025, at the Montserrat Cultural Centre. The meeting was attended by shareholders in person and online via Zoom, reflecting the Bank’s continued commitment to accessibility and good governance.

This year’s elections come amid significant changes to the Board’s composition, following the resignations of directors Reuben T. Meade and John P. Osborne, both of whom are now serving in elected roles within the Government of Montserrat. Chairman Dalton A. Lee also stepped down from the Board at the conclusion of the AGM, after ten years on the Board with seven as the head.

In accordance with Article 62 of the Bank’s Bylaws, which mandates the retirement by rotation of one-third of directors at each AGM, Duleep Cheddie and Joseph L. Irish, who were eligible for re-election, have been re-elected by shareholders to continue their service.

Additionally, under Article 65, two directors who had been appointed by the Board to fill casual vacancies during the year, Chivone Gerald and Phylistine Weekes, were confirmed by the shareholders through election. Both had been serving in interim capacities since November 2024 and now begin their official terms.

A new director has been elected to serve as the Government of Montserrat representative in the person of Trevor O.B. Brathwaite, a former Deputy Governor of the Eastern Caribbean Central Bank and current Chair of the Eastern Caribbean Automated Clearing House (ECACH).

The Board now comprises:

• Agatha Aspin
• Allison Fenton-Willock
• Bruce Farara
• Chivone Gerald
• Duleep Cheddie
• Joseph L. Irish
• Phylistine Weekes
• Robert Frederick
• Trevor O. B. Brathwaite
• Venita Cabey
• Korah Galloway (Corporate Secretary)

These appointments reflect BoML’s commitment to maintaining strong governance and a diversity of expertise as it continues to serve as Montserrat’s only indigenous bank.

Corporate Secretary Korah Galloway expressed gratitude for the outgoing members’ contributions and noted the new directors bring a wealth of knowledge in finance, governance, and strategic leadership.

The Bank will continue its focus on innovation, compliance, and inclusive growth under the refreshed leadership team.