The managing director of one of the island’s banks has announced his retirement from the role.

Nigel Gautrey is stepping away from the role at Cayman National Bank (Isle of Man) Limited after eight years, but will continue with the firm as a consultant as it transitions to a new online banking platform.

Banking director Jim Woodall has taken over the position.

A spokesperson for the Douglas-based firm said: ‘Nigel has been a cornerstone of the organisation, and his leadership has been instrumental in the company’s growth and success.

‘During his time with in the role, Nigel has played a pivotal role in shaping our strategic direction and fostering a culture of excellence.

‘His vision and dedication have been key drivers in our achievements, and we are grateful for his unwavering commitment.

Talking about Mr Woodall’s appointment, the spokesperson added: ‘Jim Woodall, who has been with the bank for five years, brings a wealth of experience and understanding of our operations.

‘He has demonstrated exceptional leadership and a strong commitment to our clients and staff.

‘We are confident that under his guidance as Nigel’s successor, Cayman National Bank (Isle of Man) Limited will continue to thrive.’

Commenting on Mr Gautrey’s retirement, Mr Woodall said: ‘Nigel's invaluable contribution to Cayman National Bank (Isle of Man) Limited cannot be overstated.

‘His strategic insights and dedication have been a leading influence for all of us. I am looking forward to building on the strong foundation he has established.’

Mr Gautrey added: ‘It has been an incredible journey, and I am immensely proud of what we have achieved together.

‘I have full confidence in Jim's ability to lead the bank into the future, and I look forward to supporting him and the broader team during this transition.’

Replacing Mr Gautrey as managing director of sister firm Cayman National Trust Company (Isle of Man) is Roz Melia.

Ms Melia has been with the Cayman National Group for 23 years and has served as fiduciary director since 2017. She has more than 35 years’ experience in the fiduciary sectors in the Cayman Islands and Isle of Man and brings a wealth of experience and expertise to her new position.

Ms Melia is vice chair and a director of the Society of Trust and Estate Practitioners (Isle of Man) Limited and a member of the Institute of Directors. She is also company secretary for Cayman National Bank (Isle of Man) Limited.

Ms Melia said: ‘I am thrilled to take on the role of managing director at Cayman National Trust Company in the Isle of Man.

‘Nigel has set a high standard, and I am committed to building upon the solid foundations he has set. I will continue to collaborate with our skilled team to elevate our services and reinforce our industry standing.’

The group as a whole comprises retail and international banking, wealth management and fiduciary services. Aside from the Isle of Man, it has activities in the Cayman Islands, Barbados, Grenada, Guyana, Suriname, St Lucia and Ghana.