Fiji Development Bank [FDB] Chairperson, Bob Lyon, today announced that the Chief Executive Officer, Deve Toganivalu, has decided to retire in March this year, following a remarkable career and over 29 years of continuous service to the Bank.
“Mr. Toganivalu has led the Bank to great heights and has positioned it well as the leading development bank in the region,” he said.
Lyon said that FDB is making record profits but more importantly providing banking services to the Fijian people that they might not be able to access from other sources, particularly in agriculture where FDB retains a market share of over 47%.
“The board and staff of FDB are grateful to Deve for his innumerable contributions during his distinguished tenure with the FDB,” said Lyon.
He said the departure will certainly leave a gap for FDB employees and customers but the board is now in the process of starting an orderly leadership transition over the next couple of months.
“The position will be advertised in due course and in the meantime General Managers Banking and Administration will carry out the core functions of CEO following Mr. Toganivalu’s retirement on 31 March,” said Lyon.
Mr. Toganivalu joined the Bank in 1987, having previously spent 13 years with a commercial Bank. Mr. Toganivalu has extensive commercial and development banking experience totaling 42 years.
We thank Mr. Toganivalu for his stewardship over the past 29 years and wish him and his family well for an enjoyable retirement,” said Lyon.