Michael Anderson, newly-appointed executive chairman of RF Group.
RF Group has appointed Michael Anderson as executive chairman, while he continues to serve as president and chief executive officer, the company announced. The move takes effect immediately and follows the resignation of chairman Ross McDonald on 19 Aug.
The board described the change as part of a succession plan intended to maintain continuity as the regional financial firm enters its next phase, according to a news release. Anderson, a long-time executive at the group, will oversee the board while retaining day-to-day leadership of the company.
A banking and investments executive for more than three decades, Anderson currently sits on the boards of the Bahamas International Securities Exchange and the Bahamas Central Securities Depository and serves as chairman of the Bahamas Property Fund, the company said. He has overseen operations in The Bahamas, Barbados, the Cayman Islands, and Turks & Caicos.
RF Group credited Anderson with leading a 2019 management buyout of Royal Fidelity’s Bahamas- and Barbados-based banking operations from RBC Royal Bank and Fidelity, and with acquiring Fidelity’s Cayman Islands pension business.
“Ross [McDonald] has been a tremendous steward of RF Group’s vision, and on behalf of the entire team, I extend my thanks for his leadership and dedication over the past six years,” Anderson said in the release. “I look forward to building on this momentum and ensuring that RF has a strong Board and executive team to help us reach our most ambitious targets.”
