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Goodbye Amoy, hello Wendell

Thursday, February 14 2013

THE Unit Trust Corporation (UTC) held a gala function on February 1 to bid farewell to its former chairman Amoy Chang Fong and welcome Wendell Mottley to the position.

The event themed, “Celebrating the Past, Present and Future,” held at the Hilton Trinidad and Conference Centre, also recognised the Pioneering Management Team of the Corporation — Jerry Hospedales, Clarry Benn and Michael Alexander.

As part of the evening’s programme, a video presentation highlighted the Pioneering Management Team, who was seconded from the Central Bank with the mandate to build the Mutual Fund Industry in Trinidad and Tobago.

Trade, Industry and Investment Minister and Minister in the Ministry of Finance and the Economy, Vasant Bharath who delivered the keynote address, emphasised that the UTC had “fostered a culture of savings” over the thirty years of its existence.

He added, “Because of your prudent management of the financial resources entrusted to you, thousands of families have benefitted by saving to educate their children; thus creating a ripple effect throughout our society in all facets of life.

It has also contributed to increasing the competitiveness of our national economy.” Minister Bharath bid farewell to the former Chairman by raising an old Irish Toast to her.

In his address, Mottley spoke of Chang Fong’s invaluable contribution to the UTC. “During the turbulent years of the global financial crisis when many respected large institutions floundered, Amoy’s poise and steady hand served to guide the UTC through a time fraught with peril.”

Mottley said he felt humbled when he remembered the excellence of the previous Chairpersons, John Hunt, Justice Rolston Nelson, Judy Chang, the late Hubert Alleyne and Central Bank Governor and former Permanent Secretary in the Ministry of Finance, Ainsworth Harewood, saying, “I hope I can live up to their high standards of integrity, dedication and professional acuity.”

Nelson was in the news recently as the name advanced to the Government by the Opposition People’s National Movement (PNM) as a consensus nominee for the post of President.

Mottley served as finance minister in the 1991 to 1994 PNM administration of Patrick Manning.

In paying tribute to Chang Fong, UTC’s Executive Director Ms Eutrice Carrington commented, “We at the Corporation have benefitted considerably from Ms Chang Fong’s expertise over her many years with the organisation — first as a Director of the Board during the period 1986–1993 and then as Chairman of the Board over the period 2004–2012.”

On the contribution of the Pioneering Management Team, Carrington said, “Theirs are the shoulders on which we, the current generation of managers stand today, as we strive to achieve even greater heights.” Carrington, in welcoming the appointment of Mottley as Chairman, noted, “We look forward to working with you in our continuing quest to build a living organisation which will grow from strength to strength.”

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