Capital G Bank president and chief executive officer Stephen Freeman has resigned for personal reasons after less than four months in the job.

Capital G announced yesterday that Mr. Freeman's decision to leave was based purely on personal matters, which require him to return home to his family.

"I am grateful to Capital G and the entire team for welcoming me to the company and the Island. It is with great regret that I have decided to resign, however, I have decided to return home to my family. I wish Capital G continued success as it continues to grow and evolve as a first class financial institution," stated Mr. Freeman.

James Gibbons will take over as president and CEO of Capital G Bank and Sir David Gibbons will become chairman, while Capital G recruits a replacement for the position.

"We would like to thank Mr. Freeman for the contributions he has made over the past several months and extend best wishes to him and his family," said James Gibbons, who is president and CEO of Capital G Ltd. Briton Mr. Freeman succeeded Sarah Farrington in the top job at the bank in March this year. He arrived on the back of stellar 25-year banking career featuring long spells in the Far and Middle East, including a stint as chief operating officer for HSBC in Dubai.