Sterling Bank & Trust Appoints New Managing Director

Nassau, The Bahamas, October 1, 2018 – Sterling Bank & Trust Limited, an affiliate of Sterling Global Financial, today announced the appointment of Todd M.J. Beneby as the Bank’s Managing Director. Mr. Beneby will be responsible for formulating the Bank’s overall direction, identifying strategic initiatives and leading policy development in the areas of standards, compliance and customer care.

“We are pleased to announce the appointment of Todd Beneby as Managing Director of Sterling Bank & Trust as the bank enjoys unprecedented opportunity for expansion in its core arenas of property development financing and wealth management,” said David Kosoy, Chairman and CEO. “Mr. Beneby is no stranger to us having worked with Sterling’s executive team for more than 15 years in various transactions in his previous role with a major Canadian financial institution. With his familiarity with Sterling combined with nearly 30 years’ experience in the financial services industry, including leading his last firm’s private client and wealth management group and contributing to its profitability and market share, he is an ideal fit, bringing experience and culture compatibility for a seamless assumption of his new role.”

According to Mr. Kosoy, the appointment of the bank’s managing director coincides with its funding for several large projects, including assistance with transformations of iconic neighbourhoods in Boston and the UK, improvements near Florida International University in Miami and, in The Bahamas, the renovation and re-opening of Sky Beach Resort in Eleuthera and the $250 million Sterling Hurricane Hole project on Paradise Island. Both of those projects are slated for imminent start-up.

Sterling Global Financial’s various real estate funds have earned it top ranking and numerous international awards. Sterling has offices in Nassau, Bahamas where its private banking division is headquartered and the Cayman Islands, home of its trust company. The firm is on the cutting edge in preparing for real estate transactions in a digital world.

Sterling Bank & Trust Limited has an unparalleled reputation for regulatory controls”, said Mr. Beneby. “The Bank provides a solid, secure platform designed for high net worth individuals, non- residents and international institutions to access avenues for lending, asset management and investment. I am delighted to be joining Sterling Bank & Trust Limited and look forward to further strengthening the bank’s policies and procedures to protect our clients’ assets while offering them the most competitive banking solutions.”

The appointment is effective immediately.