Tim Sawyer, the CEO and Managing Director of Bank of Maldives (BML), has decided against renewing his contract with the bank.
In a message to the bank’s staff on Thursday morning, Sawyer said that his three-year contract with the bank was coming to an end, and that he had agreed with the bank’s board not to renew his contract.
“It has been a difficult few years especially with COVID, but I do feel I am leaving with the bank well positioned for the future. I am sorry that I was not able to get to as many branches and sites as I planned but I have truly enjoyed my time with you,” he stated.
At BML’s 2021 AGM held at Hotel Jen last week, Sawyer said the bank had talented Maldivian employees capable of leading the bank in the future. “It has been pleasing over the last 3 years to see new Maldivians coming onto the Executive management team, be it through promotion or through recruitment,” he said. “Today, the Bank is operating with 99% Maldivians and the next generation of leaders are starting to make their mark too which means it will remain Maldivian led in the future. It is something we should be proud of.”
BML had generated a profit after tax of MVR 1.9 billion in 2021, which a 470 percent increase compared to 2020. It marked the best financial performance in the bank’s history.