Barry Malcolm Fired from Scotiabank Today

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Former Mananging Director of Scotia Bank, Barry Malcolm.

Bahamas Press can confirm the termination of, Barry Malcolm, as the Managing Director of Scotiabank Bahamas Ltd.

In what most Bankers saw as a political appointment in the first place has come to an end. We made contact with local officials of the bank here and we were referred to the Head Office in Toronto Canada.

A former Senior and well respected Banker told BP,” I would usually be upset when a Bahamian Banker is fired, but it could not have happened to a nicer guy.” Local staff are said to be jubilant as Mr. Malcolm was perceived to be a “Tyrant and too full of himself”, a employee of the local head office exclaimed to BP.

Mr. Malcolm is a former FNM Senator and a former employee of the Grand Bahama Port Authority. He may have fallen in the “Foreignization” of the Country by Papa and his crew. Wow what a Country.

We Need Change!

60 COMMENTS

  1. Too many of you BASTARDS on here (in that country) are complaining about a man who was doing his job. You lazy muthafuckers in that country are always making excuses for your IGNORANCE and lack of ACCOUNTABILITY! Be happy he was there trying to help you LOSERS! I left that country because of you whacked jobs! Try living in the US and see if your nepotism saves the day; NO, it does NOT! You people are too STUPID! Uhk! You are as BACKWATER and IDIOTIC as I remember you all when I left that shithole country back in 1976. Oh my God! ZERO progress. The time you take to castigate this man, do something about your dwindling society! Your crime is more than cities 10x your size in the US. You FOOLS have time to complain about this man attempting to do his job! Get your priorities in order; you niggahs STOP looking for hand-outs and work your assess off as the rest of the world MUST do! DESPICABLE!

  2. Well,Toronto’s Globe & Mail newspaper is reportingg that 5 of Canada’s big six banks are now in top 20 strongest in world. Scotiabank (formerly rated in top 10) is not rated at all this time. Bahamas operations are doing bad (26% retail Loan delinquecy at present and losses of $26 million prior year end). Bahamas used to have positive and strong enough impact before the days of Barry to swing the overall position safe for the Bank; not so any more.

    • Well let’s just get the show on the road with Mr Kevin
      Barry has left a bad taste and he ought to take a few of you guys at the top with him – you all know who you are – – you all are playing bank – got us all screw to hell and – it aint long before Scotia makes the news with the insurance botch job – the foreign insurance company grinnin’ all the way to a real bank!

    • The bank has been a nightmare for the last seven years or so. Now that the attention is off Barry Malcolm and quite frankly he is the scapegoat – it’s the level just under him whose back we should have been seeing.
      They know just where the dirt is – right guys?
      Com’ on you all know what’s been happenin’ with all the BAD mortgages we talk about the injustice all the time – but you let some lil teller be out $10 – the chewing gum man will be all over ya! talk about protection. And then they so brazen – they lookin’ out for family and extended family in the bank – ask the manager whose “waste bag” don’t smell – and oh – are we hiring students for the summer?? Just a minute – let me check with the branches and see and while I’m at it, I’ll just check to see if their parents work at the bank – Aw no you didn’t! It ‘aint right Lord, it aint right.

  3. I worked with Mr. Malcolm as a subordinate for a period of time and I found him to be a strong leader. He was very keen and decisive. He and his wife were very good to me and I will always remember that. We have to be careful as Bahamians in being so quick to drag each other down. Barry Malcom in a good Bahamian.

  4. Barry Malcolm did in fact have a three year contract. It was not renewed by mutual consent (for both personal and professional reasons). His appointment by the bank was strategic, and when he got the job, it was highly unpopular.

    The bank had circles of cliques (Bahamian) who were not good for business, and the bank decided that they needed to bring in an outsider to break up the poisonous circle infecting Scotiabank.

    Contrary to what the half-wit riff-raff say on BP, he was more like a management consultant brought in to clean up the corporate offices. The management structure was bereft of ideas, stuck, and not going nowhere.

    The bank realized that they had a “human factors” problem and it needed a shake-up and Malcolm was just the guy to do it. He was the hatchet man to get rid of the dead wood, fire the slackers, and put the fear of God back into the lazy bank management. He did that in fine style.

    Under him the bank re-focused lines of business in a strategic manner and he re-organized business lines. During his tenure, he was collegial but he was a firm leader. Bahamians dislike firm leaders. They like pansies like Perry Christie who they can swing and maneuver around. You couldn’t do that with Barry. He had an ego to match the job, and he did exactly what he was paid to do. And he was very well paid to do it.

    Bahama Press is a gutter rag of imbeciles who wouldn’t know the truth if it slapped them in the face. They indulge in their mental masturbation, speculating on events and shaping their story to suit their fantasies, without any regard for the truth. They are the by-products of Fweddie Mitchell and the PLP who were born without the truth gene.

    The fact that Barry Malcolm is FNM or not had no bearing with the bank, other than the fact that FNM’s are more truthful and less criminal than PLPs.

    • This is not an issue of FNM or PLP, clearly this is Scotia’s business being laundered on a website. BP reported and the people decided, and the comments below reflect their thoughts and conclusions. Funny how you yourself came on BP, read the comments and responded … so Truth be told you fit in quite comfortably with the imbeciles.

      If your story holds true though, it certainly wasn’t strategic for the Bank of Nova Scotia to hire a Bahamian Ax-Man for a couple of ‘lazy management team’ members and suffer the current fallout of almost non-existent customer service and loyalty, diminished staff morale which is perhaps causing this awful service, and obviously lower financial results – outside of Bahamar – resulting in all of these increased fees killing the already struggling customers. You send in consultants for that! I mean I’m just saying …..

    • omg!….tmi… I am ttksf but sounds like this comment was written in the third person…..sounds like self defence….and I don’t know what clique you referring or what dead wood you talking about..you obviously did not put the fear of God in any one especially the management team! Bereft of ideas….have you ever heard iitabdfti? What new ideas you brought? Inept department heads? Inceased fees? Lousy insurance idea which took business away from MANY of the local insurance companies? What new ideas…loosing milliions of dollars on the htel project? aamof…..when was the last time Scotia bank showed a deficit on their financial statement? afaic, if you had the so call dead wood around you, we would not be posting! Maybe the pay was good…but the bank got swing….I agree let’s keep politricks out of this because sitting as a senator for…..one year does not a politician make…..and as for PC..he has personality and is a master speaker, he can give you classes and that’s my five cents! LOL

    • Thanks for giving us a clear picture of Mr Malcolm’s tenure at Scotia Bank. It is fair and balanced.
      Mr Malcolm is quite a qualified and talented business man no nonsense style. Best Wishes to him and I am sure the axe will be moving right along to the top.

    • @ to tell the truth…..
      ha ha ha!!!! ok Barry. Great defense! We hear u Bro! This is pathetic but funny. Not worth a response but I just couldn’t resist.LMAO!
      And that’s my 5 cents!

    • I agree! Even though I don’t reside in that country, I must admit that Fred Mitchell and the PLP are the worse for that country. Barry Malcolm is an exemplary and exhaustively capable professional. He was used as the ‘scapegoat’ and it is unjust that countless of people are deliberately attempting to undermine his professional deportment and core competencies. Confident that he will land on his feet as he ALWAYS does.

    • What in the world does Perry Christie has to do with Barry Malcolms’career path? By the way, the last statement you wrote speaks volumes of your intellectual shallowness and your lack of mental curiositey. At least you indicated that there are liars and criminals in both political parties. How about including churches, social clubs, fraternities etc. I think you get the picture. Some advice (which I doubt you will appreciate), although it is silly season, try to rise above the petty foolishness and just simply argue the facts. Seems to me that if you had a cross-eyed-dog you would blame Christie and the PLP.

  5. Now that Scotia Bank is at the bottom of the pile, will the bank bring back those abled bodied men & women who were sent home on forced retirement? They were a part of the team which made the bank #1…..all the other jokers who now sit at the top need to go somewhere else….how ’bout trying to collect the money for all the bad loans!

  6. I could care less if he is gone. When most of us are struggling to make it paycheck to paycheck he will be leaving with all smiles. Scotia is an international bank so if they don’t want to appoint a Bahamian it is their right to do so, it comes with the territory. In his departure he can take a few more persons from those listed above along with him. Its good that a foreigner is coming to take over again because the bank can get back in order. All this who you know not what you know will stop because there will now be a neutral person who doesn’t know anybody! You will work for what you want. So all these persons in high positions who are NOT QUALIFIED sitting up high…looking pretty (at least thinking you do)treating their subordinates as they feel lowering morale….not doing anything but giving orders get ready because a change is gonna come which was much needed apparently.

    • Robin is the fall guy , for years she has just sign what ever she was given. To help the Bank not be taxed for income here in the Bahamas Robin filed false ownership documents with the registrar general’s department now when that story gets out more good Bahamians will lose their jobs . so sad

      Scotiabank Bahamas Limited is not a Bahamian Company and i take offence to robin claiming they are for what ever reason.

  7. Just got confirmation Canadian boss of Scotia in Caribbean East supposed to go to Nassau. This young fellow doing the same tracking like Tony (Bev husband)moving from Barbados to Bahamas.

  8. It’s been a long time comin’, but I know a change gonna come!
    My sister and my aunt work at scotiabank for many years and believe me, those employees can’t wait to see BM’s backside! To go from Tony Allen to BM is such a spectacle! Night and day! What was they thinkin?
    It’s one ting to be pompous but when u mix dat with ignorant, it ain’t pretty!
    May he not rest in peace!

  9. I hear yah ‘Think Bahamas.’ But people reap what they sow. Barry Malcolm and others have been Uncle Toms for years. Doing the dirty work of these foreigners. Eventually it comes to haunt them.

    With all the banking knowledge in this country we really should be able to compete against these foreign banks. We have the human resource to do so, but I gather we lack the fortitude to push our economy in a different direction. I have no issues with foreign banks, but I submit that we as Bahamians must be put in a position to give them a run for their money in these sectors. I believe in Bahamian professionals. I really do. We have some bright people in this country. Don’t let anyone tell us otherwise. I just hope that in my lifetime we can see this country really show the world our true grit. They call us lazy, dishonest and all sorts of disparaging names. Let us build a national resolve to really make this country a place we are proud to live and die for.

  10. It is ironic lol… A month ago we had people almost stripping naked on Bay St protesting the BTC sale to foreigner saying how qualified Bahamians are… Now we have a reversal of fortune where a respected Bahamian was terminated at the hands of foreigners. Not knowing the reason behind the termination the loyal cry’s of Bahamians now shout contempt for one of it’s own…lol Politics you have to love this evil beast it blinds the followers while strengthening the resolve of the politicians…. Again the black crab syndrome raises it’s ugly head….lol

    • @Think Bahamas ……did u say “respected”? You really have no clue, do u?

      Just because the man is Bahamian doesn’t mean he should be allowed to stay in office and run that bank into the ground! After all, don’t we as Bahamians oust our political leaders if we feel they can’t do the job?

      I banked with them for many years. At one time Scotia was on the map with their service. Now it is clear that their employees are demotivated. I stand on the other side and look at the faces of the staff as they service their clients. No smiles like before. No pleasantries like before. No curtesy like before. They are clearly just going through the motions just to make a living.

      Hopefully now things can change for the better.

      Stick with politricks Barry……you really deserve to be a politician ….so u could really know what the Bahamian public think of you (obviously u are too thick to figure it out For yourself).

      pathetic!

      Bahamianization doesn’t necessarily mean better…..especially in this case.

  11. No official word as yet on where Barry will be going nor who will be replacing him. Sources over here are saying that he is likely to come back to us in Freeport by early June after he hands over the reigns to a familiar foreigner already entrenched at Scotiabank (Bahamas) Managing Director’s Office in Nassau. Scotiabank has long dollars and I know that they are not stingy when it comes to paying those parting company. Barry will have some good extra funds for investments that we need over here.

  12. It’s about time! What took the bank so long? The shoes Mr.A left behind were to big for the jamacian lady and Barry to fill. I saw him on tv….why did he hold a press conference – he was all alone, did he believe holding a press conference would cause us not to think he was fired? Where was the strong management team he spoke of? Where was the chairman and board members? If he was leaving on his own steam shouldn’t they be there to thank him for his service and speak glowingly of him? What goes around comes around….now he joins the rank of those he fired or allowed Canada to fire….remember Christie the legal eagle of the bank, the other Christie and others, –
    Now that he is gone he needs to take all of the team he spoke about…..they obviously did not help him…they are all weak, tired, uninspiring and full of BS….always pushing us to sell….sell…sell – we selling so much we even selling houses….we have lots of them for sale……we even selling insurance for the insurance company.

  13. At a Bahamian bankers’luncheon meeting back in 1987, Lynden Pindling (Prime Minister of the Bahamas) took very careful note that Scotiabank was the only bank attendinng the meeting that did not have a Bahamian head in attendance. Scotiabank was represented by Canadian Dave Babensee.Pindling said that he could not understand this misfit asked for someone to explain the reason for it. Shortly thereafter, Scotiabank announced the appointment of Eleutheran, Tony Allen as the first Bahamian to be in char ge of its operations in the Bahamas. Tony held this position until he retired in 2004. A Jamaican succeeded him and departed in 2007 when Barry took over. Now, I am surprised to learn that he is the first Bahamian to be fired from this job. Pindling is the only one that might be able to help him now.

    • Did anyone note how ZNS tonight carried an old story with Barry Malcolm talking about cuts at Scotia bank as if he was not the person fired today?

      Well BP has a meeting with Scotia Monday morning Sharp and yinner know what we ga do.

      BP

  14. Ask Barry Malcolm about how his policies directly impacted the poor Bahamians who unfortunately had mortgages attached to Scotiabank. Ask Barry Malcolm how he demanded that poor bahamians HAD to move there homeinsurance to J S Johnson if they did not pay there policies in full and present a recipet before there old policy had expired….no doubt because he was paid off to do so! Instead of encouraging and helping his fellow bahamians he helped himself! Shame on you! You can only reap what you sow Barry Malcolm!

  15. I don’t see what these banks put Bahamians in charge anyway. Everyone knows its for show. The major decisions still must go to Canada for approval. They still don’t trust us even after generations of banking in this country. Yes, we have some bad apples who pilfer and embezzle funds. But what banking system or country doesn’t. Case in point Bernie Maddoff and the NY gang. Things like this will continue to happen until we turn this economy into our own. Developing our own banks and a financial structure where Bahamians have greater ownership is what we need. We are greatful to these foreign banks and I’m not suggesting a nationalistic approach to banking or any other industry. But there has to be more avenues created for the development of Bahamian wealth.

    • @Tiamaria
      Well said now I hope that Papa and his minions read your comments and understand that Bahamianization is a must but is dead under this wutless,incompetent,oppressive and vindictive Govt.Uncle Tom Byron Woodside who had the gumption to criticise Bahamianization should resign and no longer seek political office as he is a prime reason why many Bahamians are now being disenfranchised by these foreign companies.

  16. THANK GOD!! He never sleeps my fellow Scotiabankers! One down, plenty more of these ignorant, under-qualified managers to go!

    I’m not sorry. The man hardly spoke to the staff and is not at all engaging. So I say “Good Riddance!”

    • He may never sleep but he sure does let the wicked get rich before he finally gets to work. Ya’ll are so silly attributing every little things to the unknown. Stick to the facts.

  17. So Scotia Bank give Barry Malcolm the boot and showed him to the door aye? Yeah well, you will never know the amount of persons they used him to fired or the role he had to play in it and he never stopped once to think about it. That’s what I always is tell people, “every dog as their day.” No need for teary eyes now, life goes on my brother.

  18. Don’t cry, as a Bahamian I want to cry….but I can’t and won’t cry because he allowed himself to be surrounded by expats….he was set up – he thought he was in charge but they are……do you see how many useless expats are in Scotia Bank now? What is painful is they bring in these people who have absolutely NO personality as a matter of fact they HATE black people. The man in the private bank is a poor excuse for an executive. I am a professsional and the manner in which my accounts were handled from his first day here is awful..it’s because I am BLACK. Now that Barry is GONE….hopefully Immigration can get their act together, and send them all back to the snow where they don’t have to deal with as many BLACK folks.

  19. Things like this should not happen.
    Why? Cause now the foreigner will say we gave a Bahamian an opportunity but it was a failure they will not say the appointment was politically influenced or that there is no track record of performance.
    Now lets watch FINCO which has experienced losses from the very first day of the other political appointment.
    Bahamian Sr. Bankers can kiss it all goodbye and this unfortunate as there are some damn very good ones out there who should get the opportunity!!!

  20. BP you really need to stop brazenly politicizing every thing …..how is it that everything from dead dog in the road to rat in the school to Barry Malcolm become political football? Come on……u really make this nation look like a real Banana Republic….come on man, u r feeding this garbage to the world!!!!

    • SCOTIABANK is a foregn and an Internatioanl Bank so Barry appointment could not have being political, if so back then something happen or something was promised on the political side.

      One writer said Pindling had a meeting and only Scotiabank was there and a foreigner was there and after teh meeting a Bahamian Tony Allen was manager, Tony Allen was the only one qualify and was always over look WHY!!!!!!!!!! The writer said if Pindling was here today this would not have happen SCOTIA is foreign and if they want there own so what

      BAHAMIANS have to first learn how to treat their own fellowman, the foreigners see just how bad we treat one another

      BAHAMIAN manager, supervisors etc. knock you done personally especially if they donot have what you have. Jealousy is the problem.

      I rather have a foreign boss than a BAHAMIAN boss

      • This is the silliest comment I’ve seen in a while. Bahamians really are mentally enslaved. He makes the point that we need to treat each other better as Bahamians. But then follows by saying he would rather a foreign employer. How stupid can you be? I have to say it again. How stupid can you be?
        I’ve seen both Bahamian and foreigner treat Bahamians poorly. In the banking industry in this country there is an attitude of aloofness and superiority. From the foreign managers straight down banking professionals believe they are somehow the engineers of an economy. When really they are not. They are all rats in maze with no creativity and no real concept of economics. They count money, house money and give loans based on pre-set formulas.The government does a poor job protecting the consumer allows banks to get away with charging outrageous fees for poor service. We need to stop putting these bankers and banks on some pedestal. It is the entrepreneur that keeps this economy going.
        “Good bankers, like good tea, can only be appreciated when they are in hot water.”

  21. All the jobs he ever had were politically secured for him. He has not been very successful at keeping them. You know what they say; “Easy come..easy go.”

  22. WOW BP! In the words of the rude talking Parrot who was shown the inside of the frozen section of the refrigerator, “What did the Chicken do?”

  23. ZHIVARGO LAING,BARRY MALCOLM AND JULIAN FRANCIS NONE OF THEM WERE SUCCESSFUL IN THE PRIVATE SECTOR.ALL OF THEM WERE FIRED FOR POOR JOB PERFORMANCE!!!This is the sole reason that they agree with EVERYTHING the prime minister does.They are all POLITICAL PROSTITUTES!!!

    • Best of luck to Mr. malcolm in his future plans what eva it may be,we need to pull up and not drag down because of politics.This country is making me sick, with our immature attitude towards people because of politics> We will not see any better if we stay on the same path. Our sin will certainly fall on our children…..watch it now

      • omg!!!!! u r sooo correct!!!!! neva judge sum1 until u r in dey shoes…yes he was a pwn but @ da end a da day if u wasnt dere in scotia & da metings den dnt have nutn 2 sa……da man was a gud person…he was friendly to most staff….arrogant yes he was but who da hell isnt??!!! smt…BAHAMIANS!!! i guess yall gan tawk neway…so yall do w/e floats yall boat!!!!

    • They have Balls or Backbones, they are spineless
      Sow do they run their households? Maybe they go home and boss around their families. That’s awful.

      • @lady, YOU ARE FIRED….you are certianly a misfit, go take ur pills NOW ok….
        call me later if them set dont work…i will give you some blue boys

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