Capital G Bank has created two new executive vice president positions and appointed two Bermudians to the posts.

New EVP and chief operating officer Richard Doughty has primary responsibility for the strategic development and daily operations of the bank including building the bank?s infrastructure to support its current operations and future growth. As part of the bank?s executive management and strategic planning teams, Mr. Doughty will also provide leadership and direction to the bank?s operational departments. Prior to this appointment he spent three years as senior vice president and head of retail banking at the bank. He also worked for Butterfield Bank for nine years serving as head of retail banking in Bermuda for three years and head of banking in London for almost two years.

The bank?s SVP & head of credit risk management since 2001, Ian Truran, is the new EVP & chief relationship management officer. He is now responsible for the strategic development of the client sales and service functions of the bank to include the credit department, financial services and private banking. Mr. Truran will also form part of the bank?s executive management and strategic planning teams providing leadership and direction for the bank?s business development departments. Mr Truran previously spent almost ten years at Butterfield Bank, completing his tenure as vice president, private banking, after being vice president, credit risk management for three years.

The corporate reorganisation comes as the five-year-old bank?s first president and CEO Sarah Farrington prepares to depart. Ms Farrington, who oversaw Capital G?s transition to a bank from a deposit company, is leaving the bank at the end of July to become chief executive of law firm Conyers Dill and Pearman.

?Richard brings a great depth of operational and management experience to the role? said Ms Farrington. ?He has extensive banking and project management experience which will be instrumental to the bank?s future development. ?

She added that the appointment of Mr. Truran as chief relationship management officer underscores the bank?s commitment to providing superior customer service.

?Ian?s experience and dedication to service makes him uniquely qualified to fill this role and we look forward to his leadership in the delivery of products to our clients,? she said.

The two appointments bring the total number of EVP level positions to three. The third position, EVP & chief financial officer, is held by Mr. Ralph Kern.

The bank continues to seek a replacement for Ms Farrington.