Bank of the Cook Islands
Established 1st July 2001
Engaged directly by the Cook Islands Development Bank, Jock Struthers on behalf of Glenhill Consulting planned, organised and managed the successful merger of the Cook Islands Savings Bank and the Cook Islands Development Bank to form the new Bank of the Cook Islands during the first six months of 2001.
Services Provided
Strategic and Business Planning :
- Due diligence of the CISB and CIDB loans portfolio and financial position.
- Assessed market potential throughout the Cook Islands including Outer Island development potential and infrastructure needs.
- Developed five year financial forecasts to assess bank funding requirements.
- Strategic planning workshop with staff.
- Interactive development of a five year strategic/business plan with Management and Board of directors.
- Developed a Business / Operational Plan and financial forecast for the 1st year, 2001/2002.
- Introduction of a loan classification risk management system.
- Developed policy for prudential, bad/doubtful debt/ provisions and liquidity risk management
Project Management
- Planned, Organised, Initiated and Supervised the entire merger process.
- Planned / Supervised all tasks and activities including:
- Refurbishment and relocation to new premises
- Preparation of enabling Legislation
- Public Relations and Marketing
- IT Upgrade and merged computer system
- Organisational /HRD review
- Staff training.
- Negotiated contractor / consultant contracts and staff redundancies
Services Provided
The new Bank of the Cook Islands successfully opened on due date – July 1st 2001
