Next week marks the end of an era for Alan Richardson. After nearly 15 years with the Bank of Bermuda, Mr. Richardson, the first black Bermudian to be appointed to the bank's executive ranks, is moving on.

At 51, Mr. Richardson - a chartered accountant by trade who started out with then accounting firm Coopers & Lybrand back in the mid 1970s - is stepping down from his post as head of banking and lending products to pursue other opportunities in the private sector.

But initially Mr. Richardson, who joined the bank in 1988, is taking a few months off. During that time Mr. Richardson said he would take some downtime after putting in long work days over his career at the bank, and to take time to evaluate his next step. Although not speaking in specifics, Mr. Richardson said he was looking at returning to work with a "private venture" by early next year.

As for what prompted him to leave the bank, Mr. Richardson said on a personal level it was time for him to pursue other opportunities.

Mr. Richardson told The Royal Gazette: "From where I sit, it is important to recognise that my leaving the bank has nothing to do with any disagreement with senior management or its strategic direction.

"I am leaving to pursue other interests and I leave with absolutely positive experiences over my 14 years with the bank. That includes my own acknowledgment, with a certain pride and sense of accomplishment, that I was promoted to the bank's executive in 1994." Mr. Richardson added: "I hope that my leaving in no way reflects (negatively) on the potential opportunities that exist for black Bermudians in the bank today, and for Bermudians in the future. "The bank must be one of the more exciting places to get exposure to the financial services industry, not only in Bermuda but as a company that is Bermuda-based with a global presence."

For his own part Mr. Richardson said his advancement to the highest levels of the bank was a natural career progression. "The opportunities were there and I certainly believe (my promotion) it was merit based. "I don't think there was any tokenism in my appointment. I have had a consistent record of achievement and I think it would have been remiss of the management of that day to make my appointment on any basis other than merit."

When asked if he was supportive of affirmative action - and given that the numbers of blacks in senior management positions across Bermuda remains low, as demonstrated through the findings of the Commission for Unity and Racial Equality (CURE) - Mr. Richardson said: "Monitoring the workplace to at least ascertain that there are not any unfavourable trends taking place that might be indicative of problems within Bermuda as a whole or within organisations is positive.

"But to mandate percentages of people, or that certain numbers of an ethnic group must be present in an organisation is inappropriate."

Mr. Richardson added: "What is appropriate is that we develop open climates where people of all backgrounds and diversities are welcome; a climate that fosters growth and learning and progression. And hopefully on that basis, assuming that there are no educational or other impediments to access, then I believe the composition of senior management should begin to reflect the population as a whole."

And Mr. Richardson said Bermudians, whether black or white, do have access to opportunities in the Bank's offices both here and abroad.

Mr. Richardson concluded: "Here it is much more about one's ability to acquire knowledge and learning than it is about the colour of a person's skin."