Past Governors

Former Governor of the Central Bank during the term from 1964 to 1966

Mr. John Pierce served as Governor for the period 1964 to 1966. He was the first Governor of the Central Bank of Trinidad and Tobago. With a background in the operational aspects of central banking, Mr. Pierce led the development of the new institution.

Former Governor of the Central Bank during the term from 1966 to 1969

Dr. Alexander McLeod served as Governor from 1966 to 1969. The Central Bank became banker to the Government and a monetary policy framework based on traditional tools was put in place under his stewardship.

Former Governor of the Central Bank during the term from 1969 to 1984

Mr. Victor Bruce was the first local to head the Central Bank. He assumed duties in 1969. During his tenure, the Bank placed special emphasis on widening the network of commercial bank branches and building institutions in the capital market segment of the financial system to allow for the diversification of savings. Under Mr. Bruce’s direction, the Bank played an important role in the formation of the Stock Exchange, the Unit Trust Corporation and the Home Mortgage Bank.

Former Governor of the Central Bank during the term from 1984 to 1988

When Dr. Bobb assumed the leadership of the Bank in 1984, he was faced with several challenges – a deteriorating real economy, weakness in the NFI sector and outdated financial legislation. To maintain confidence in the financial system following the difficulties in some NFIs, Governor Bobb focused on the protection of the depositors and piloted amendments to the Central Bank Act which introduced the Deposit Insurance Corporation (DIC), the first of its kind in the region.

Former Governor of the Central Bank during the term from 1988 to 1992

Mr. William Demas assumed the leadership of the Bank in February 1988. Mr. Demas led the institution at a time when the economy was in a severe recession. Mr. Demas was part of a team comprising Senior Managers of the Central Bank and the Ministry of Finance that successfully negotiated a debt relief programme with the IMF. This programme signalled the beginning of a wide-ranging programme of economic and financial reform in the country. Mr. Demas is credited with providing a steadying hand to economic management during difficult years in which the Bank implemented a number of tough measures. These measures were geared towards economic stabilisation and returning the economy towards a sustainable growth path.

Former Governor of the Central Bank during the term from (1992 to 1997)

Mr. Thomas Ainsworth Harewood took over the reins of the Central Bank in July 1992. Governor Harewood presided over the removal of exchange controls, the flotation of the Trinidad and Tobago dollar and the merger of three commercial banks to form First Citizens Bank. In 1993, exchange controls were dismantled and the Trinidad and Tobago dollar was allowed to float with its value being determined in the inter-bank market. Foreign exchange transactions had to be undertaken through dealers authorised by the Central Bank. The Bank was responsible for introducing several measures to help promote stability in the market. The change in the exchange regime also provided the Bank with greater autonomy to conduct monetary policy and the Bank began the process of moving away from direct instruments of monetary control to more market-based ones.

Former Governor of the Central Bank during the term from 1997 to 2002

Mr. Winston Dookeran took up the mantle of leadership of the Bank in 1997. Mr. Dookeran initiated the process of upgrading financial supervision and regulation and the transfer of the supervisory responsibilities for the insurance industry to the Central Bank. He was also responsible for revising the Bank’s monetary policy framework. In May 2002, under Mr. Dookeran’s stewardship, the Bank introduced its overnight repurchase (‘Repo’) rate to provide a clear signal about the stance of monetary policy. He also issued the inaugural edition of the Bank’s Monetary Policy Report.

Former Governor of the Central Bank during the term from 2002 to 2012

Mr. Ewart S. Williams was appointed as Governor of the Central Bank of Trinidad and Tobago on July 17th 2002. He was reappointed to the position in 2007, making him the second longest serving Governor of the Bank. During his tenure, Mr. Williams spearheaded a number of significant achievements for the institution. Noted among these are the Bank’s improved capacity for economic research and support for monetary policy and the shift to a more market based monetary policy framework based on the repo rate. Mr. Williams also ensured the strengthening of financial supervision through the introduction of new statutes and amendments to existing legislation and financial infrastructure such as the electronic payments system. Mr. Williams sought to make the Bank more accessible to the national community by championing a number of important outreach initiatives such as the website upgrade; the establishment of the National Financial Literacy Programme; the creation of the Financial Ombudsman’s Office; the establishment of the Money Museum and the Bank’s charity programme, “We Care”. Mr. Williams’ tenure culminated with the re-introduction of the $50 note in commemoration of the 50th anniversary of independence.

Former Governor of the Central Bank during the term from 2012-2015

Mr. Jwala Rambarran served as Governor from July 17, 2012 to December 23, 2015.

Former Governor of the Central Bank during the term from 2015-2025

Dr. Hilaire is a career Central Banker, having worked with CBTT for a cumulative period of approximately twenty (20) years, holding positions of Senior Economist, Chief Economist and Director of Research and most recently, Deputy Governor since April 2013. Dr. Hilaire has extensive experience in macroeconomic policy development and implementation and monetary policy matters.

Dr. Alvin Hilaire was appointed Governor and Chairman of the Board of the Central Bank of Trinidad and Tobago (CBTT) for a 3-year term effective December 23, 2020.

Regionally, Dr. Hilaire has made significant contributions to developing the economies of small vulnerable CARICOM countries through his work as Chairman of the CARICOM Development Fund, where he was influential in increasing financial assistance to these islands

Dr. Hilaire is also well respected internationally, having spent eleven (11) years at the International Monetary Fund (IMF), serving as a Senior Economist and as the IMF Resident Representative to Guinea and Sierra Leone. He has worked on IMF financial programmes in several other countries, including Croatia, Colombia, Cameroon, Ecuador and Nicaragua.

Dr. Hilaire holds a Doctor of Philosophy in Economics from Columbia University in New York and graduated with First Class Honors from the University of the West Indies at St. Augustine.