- Expansion
- Caribbean treasury hub
Programme Latitude · Initiative
Caribbean treasury hub
The hub runs one cash position for the Caribbean. Every operating account in George Town, Hamilton, Road Town, Nassau, Bridgetown, Port of Spain and Willemstad sweeps to a single ledger by 16:00 local time on each business day. Six people staff it in 2026 and fourteen by 2032. It lends only inside the group and takes no market risk.
Before the hub, seven entities held 23 operating accounts and produced seven cash forecasts on seven timetables. Idle balances sat where they had been earned. The group paid outside correspondents to move money between its own companies. The arithmetic was plain once someone wrote it down: the cost of the duplication passed the cost of the hub within 19 months.
Latitude Treasury draws US$7 million of the US$18 million allocated to the 2026 phase. It reports to the Chief Financial Officer, holds no client money and works under a written limit on intra-group exposure of US$120 million. The Risk and Valuation Committee reviews that limit twice a year and the Audit Committee tests the ledger once a year.
Deliverables
- A single treasury ledger carrying every Caribbean entity, with new entities added within 90 days of incorporation.
- The group cash position published to the Chief Financial Officer and the regional heads before 08:00 in George Town each business day.
- Intra-group lending documented under one master agreement and priced against a published internal rate.
- Currency netting across the region, so that offsetting payments between group companies never leave the group.
- Fourteen treasury staff in George Town by 2032, four of them recruited by internal transfer.