Another CL Financial exec calls it quits

In January last year, the Patrick Manning government announced that it was stepping in to assist the conglomerate, which has CLICO and British American Insurance Company Limited among its holdings, when it found itself facing major liquidation challenges.

PORT OF SPAIN, Trinidad, January 21, 2010 – Another CL Financial top executive is leaving the embattled company.

Group Financial Officer Michael Carballo has handed in his resignation, just a week after chief executive officer Steve Bideshi said he was leaving at month end.

Carballo’s resignation also takes effect on January 31st, according to a statement issued by the company yesterday. However, he will remain on the CL Financial Board of Directors.

He has been replaced by Winston Millet with immediate effect.

In January last year, the Patrick Manning government announced that it was stepping in to assist the conglomerate, which has CLICO and British American Insurance Company Limited among its holdings, when it found itself facing major liquidation challenges.