From Trinidad Express Newspapers

Banking group RBC yesterday announced that its chief executive, RBC Caribbean Banking, Suresh Sookoo is retiring, effective October 31. Sookoo, a career banker for more than 35 years, has led RBC’s Caribbean operations since 2008, when RBC acquired the RBTT Group, creating one of the most expansive banking operations in the Caribbean, from The Bahamas in the North to Suriname in the South, the group said yesterday.

Sookoo will continue to sit on the board of RBC Financial (Caribbean) Ltd, the holding company for RBC’s Caribbean business, and has agreed to remain available as an adviser to its leadership team.

With Sookoo’s retirement, Kirk Dudtschak, currently president, Caribbean Banking, will assume the role of executive vice president and head, Caribbean Banking.

Dudtschak joined RBC in 1986 and has held senior and executive roles since then.

As president, Caribbean Banking, he has worked alongside Sookoo over the last 18 months to strengthen the performance of the business and position it for sustainable growth, the bank stated.

In his new role, Dudtschak will be responsible for driving the overall strategic direction and business performance of Caribbean Banking, while also ensuring close and effective collaboration between the Caribbean business and the rest of RBC, the bank said.

“Suresh is a trusted leader who dedicated his career to serving our clients, developing our employees and supporting our communities,” said Jennifer Tory, Head of Personal & Commercial Banking, RBC. “He has also contributed greatly to the growth and development of the banking sector across the region, especially in Trinidad and Tobago. We will miss his experience and expertise, and wish him all the best in his retirement.”

Sookoo and Dudtschak will continue to work together in the coming weeks to ensure a smooth leadership transition, the bank said.

“As I prepare to retire, I’m confident we have turned a corner in our company,” said Sookoo in a statement yesterday. “We now have strong regional and local leadership in place across all of our markets to take this business forward, supported by RBC’s strength and risk management discipline. I have had a tremendous experience with RBC and have worked with some of the best talent in the industry. I look forward to continuing to contribute to the success of the Caribbean in other capacities.”

“Suresh has been a wonderful colleague,” Dudtschak said, “and I want to thank him for all the work he’s done to get us to where we are, and wish him all the best in the next phase of his journey.”

In February the banking group sent home 20 employees from its Business Development Unit at a number of branches across the country.

The layoffs represented one-third of the Unit’s staff members.

RBC Royal Bank, formerly RBTT Bank, is a subsidiary of RBC Financial which is owned by RBC, Canada’s largest and most profitable bank.

Sookoo said in an interview last year that there would be job cuts, but there was no plan for any dramatic reduction of the workforce.

He also assured then that employees were being treated fairly and with respect.

For more on this story go to: http://www.trinidadexpress.com/news/Sookoo-steps-down-at-RBC-273871061.html