With over 30 years of expertise in finance and technology, George Thomas, a self-defined redoubtable Fin-Tech Architect, is optimally positioned as CEO of Sagicor Bank Barbados, spearheading the digital transformation of financial services in Barbados and the Caribbean region. His passion for, and expertise in digital innovation, are evident in the journey that defines his extraordinary career.
George’s mother was an educator who had amassed a vast and diverse library within their home. George immersed himself in a wide gamut of topics including literature, phycology, sociology, history, and political science. Years later, he would recognize how this early intake of material of such depth, opened his mind allowing him to embrace and understand people and things in a simple but profound way.
By the time he was a teenager, he aspired to be an engineer and follow in his father’s footsteps. Simultaneously, his talent as a promising 400M track athlete fueled ambitions of securing an athletic scholarship to a prestigious American university. His vision was two-fold; to be a world class athlete and be an Electrical Engineer.
A series of injuries thwarted his athletic dreams but did not diminish his resolve to make his mark. Undeterred, George pivoted to Computer Science, earning a degree from the University of the West Indies, Cave Hill campus in Barbados, laying the foundation for his journey into the global technology industry.
It was at Barbados External Telecommunications (a Cable & Wireless company) that George’s career started in the area of programming (COBOL to be specific) and where he honed his software development and analysis skills, and discovering his natural talent for translating business stakeholder strategies into clear actionable business requirement, technology solutions and products. This innate ability to bridge the chasm between business needs and complex technology solutions would become a cornerstone of his career success over the years.
After a year with the company, George elected to pursue a Master’s degree, however deferred matriculation for two years. During this time, he lectured at a private tertiary institution for a short period before being recruited into a Software Engineering role, working for an offshore company (SoftKey International) that was founded by billionaire Kevin O’Leary, well known for his connection to the popular TV series Shark Tank.
SoftKey provided George with invaluable experience across every aspect of the global software product development industry: concept, design, contractual negotiations, software development, quality assurance, product packaging, retail supply chains, after sales support and quantification of product line P&L. Though his title was that of Engineer, this is where his leadership acumen was ignited.
Recommitting to completing his formal academic goals and owing to the efforts of Professor Dr. Keith Sandiford (retired Head of LSU’s English faculty, and former English teacher at Combermere School), George earned an assistantship at Louisiana State University (LSU) to pursue his Master’s degree. In January 1996 while working on his thesis, George accepted a job offer to return to SoftKey International, this time to work with them in Boston as a Senior Software Engineer. Notably, when he graduated from LSU in December 1996 with a Master’s in Electrical Engineering, he became one of a few elite individuals from this region to achieve this milestone at that time in the University’s history.
George’s career trajectory continued its upward momentum as he was recruited by Monster.com as a Senior Software Engineer where he quickly took on responsibility for long term Research & Development projects. In 1998 Keane Inc. (now NTT Data) came calling, and George joined the consulting firm as a Principal Consultant and Software Architect.
Within six months his exceptional performance led to a promotion to eSolutions Practice Manager for the Greater Boston and Massachusetts territories, where he closed a record-breaking multimillion dollar software development and outsourced management deal with Putnam Investments, one of North America’s largest mutual fund companies at the time. This was the largest software development deal in Keane’s 35+ year history up to that point, and it was George’s introduction to financial services – one that could be rightfully surmised as a baptism by fire. He had proven himself deserving of his executive management title.
After the events of 9/11 and the dot-com bubble evaporation, Keane refocussed on Application Outsourcing, leading George to move to Washington DC as Senior Enterprise Architect for the District of Columbia Government technology modernization program. In that role, he was responsible for the creation of a best of breed ERP architecture.
In 2003, a telephone call from a close friend in Barbados brought news of an opportunity created out of a merger between two of the largest international banks operating in the Caribbean. Perhaps it was a case of home drums beating first that led George to apply for a position, which spawned an exciting appointment at this newly merged bank as a Project Manager and System Architect. Here, he implemented state-of-the-art internet banking, mobile banking, online payments and core banking technologies, and was later appointed Chief Architect, then Senior Director of Technology Infrastructure, Architecture and Cybersecurity.
George’s remarkable journey took another turn when he was recruited as Chief Technology Officer and EVP of Banking Products for a major company’s EMEA (Europe, Middle East & Africa) region. His time with this company sharpened not only his business acumen and professional fortitude but brought laser-like focus and structure to how he approached all aspects of life.
After four years based in Dubai, working with a US fintec with a goal to enter the mobile payments industry across Africa, and having gained valuable experience across greenfield and corporate acquisitions, he returned to the bank where he had already laid a strong foundation to finish his work, this time as Deputy CIO to lead its technology digital transformation.
George led this change recognizing that banking was undergoing a seismic shift towards digitalization, and that competitors in the retail banking space would need to do things differently.
Enter Sagicor Bank (Barbados) Limited… Having commissioned extensive research, whose findings unearthed high levels of discontent among customers of commercial banks in Barbados, Sagicor recognized the opportunity and the need to approach banking differently, create a dynamic financial institution with a clear mission to be digital, employee and client-centric and profitable.
It was undeniable that such an entity would require exceptional leadership, an individual with a unique combination of a financial and technology background who could define, structure, and differentiate the bank to be the market leader. George was the consummate choice for the position and was recruited as CEO of Sagicor Bank (Barbados) Limited (SBBL).
With a life philosophy anchored in the belief that there is always a way, combined with the grit and perseverance with which George attacks each hurdle, he and his team built and launched the neobank from scratch in record time. March 9th, 2023, the day that Sagicor Bank went live, stands as the pinnacle of George’s career, a day marked by unparalleled pride and significance. They had successfully launched a bank committed to bringing a level of financial services, first to Barbados then the wider Caribbean, which is on par with international markets.
A Bank committed to building and sustaining a culture, internally and externally, of excellence and dedication. Delivering to clients what they asked for, how they asked for it, and with the best technology behind it. Affirming their commitment to making the banking experience safe and secure with products easy to get and easy to use. Sagicor Bank is changing the way people feel about banking – whether an individual, small business or large corporate client.
George embodies the credo of doing better tomorrow than he did today and understands what that means for the Bank and his team. Internally that translates to fostering an environment of positivity and support. For the bank’s clients it centres around active listening, market research, market engagement, and the use of modern technology that simultaneously drives innovation and supports the Bank’s strategy and its people.
This blend of internal and external focus has proven efficacious at this juncture. Having been in the market for just over a year, Sagicor Bank has a client base which already encompasses more than 10% of the local market, with deposits exceeding 110 million Barbados dollars. This is no small feat particularly in a historically traditional and conservative market such as Barbados.
Having successfully completed the inaugural year, it is clear that the initial achievements mark only the beginning for the bank. Under the headship of this Barbadian native, Sagicor Bank (Barbados) Limited is poised to continue to lead the market in digital innovation, transforming how financial services are delivered and experienced across the Caribbean. George’s journey from aspiring athlete to a trailblazer in digital banking is a testament to his resilience, intellect, and unwavering dedication. His ability to overcome adversity, embrace learning, drive change, and motivate his team has not only shaped his career but has also positioned him as a leader capable of driving industry- defining results.
George’s final nugget of wisdom and inspiration – real leadership is about transforming limitations into possibilities, go bravely beyond the limits.
