FIRST GOVERNOR OF ECCB PASSES

Basseterre, August 7, 2008 -- The Monetary Council, Board of Directors and management and staff of the Eastern Caribbean Central Bank mourn the passing of Sir Cecil Jacobs, MBE, CBE, first Governor of the Eastern Caribbean Central Bank.  Sir Cecil passed away in St Kitts on Sunday 3 August 2008.

Sir Cecil Jacobs provided unstinting service to the region, particularly in the promotion and development of the financial sector in the Eastern Caribbean Currency Union.  

After a period of service spanning some 30 years in finance departments with the Governments of St Kitts and Nevis and St Vincent and the Grenadines, in 1973 he was appointed Managing Director of the East Caribbean Currency Authority (ECCA).  He led the development of the Eastern Caribbean Central Bank (ECCB), which was established in 1983.

Sir Cecil was appointed Governor of the Eastern Caribbean Central Bank and held that position until his retirement in 1989.

In June of 2002, Sir Cecil, was knighted by Her Majesty Queen Elizabeth II, in recognition of his sterling service to the region.

In the same year, the Monetary Council agreed that the Bank’s auditorium be named, “Sir Cecil Jacobs Auditorium” in honour of his contribution to regional development.

Sir Cecil has left an indelible mark in the history of the Bank and Eastern Caribbean Currency Union.