The Bahamas Mortgage Corporation (BMC) announced the appointment of financial services veteran Mr. Robert C. Cox as its Managing Director effective January 22, 2024.
BMC’s Executive Chairperson Ms. Barbara Cartwright commenting on Mr. Cox’s appointment said, “The Board of Directors is happy to have Robert join the team. He built an extensive career in the financial services industry, primarily retail and commercial banking, working throughout The Bahamas and the Caribbean region. His experience is a welcome addition to BMC as we further streamline our financial and operational performance to better assist Bahamians with home ownership.”
Mr. Cox has over thirty-five years of experience in financial services with primary focus in the banking industry. During this time, he amassed a myriad of transferable skills in the disciplines of Credit Risk, Client Credit Management, Collections, Business Development and Management Information Systems. He weathered the effects of the dynamic financial landscape during the last twenty years including a global recession, major hurricane landfalls within The Bahamas, commercial banking rationalization leaving many unbanked, and most recently the COVID-19 pandemic. He holds an Associate Degree in Computer Programming, a Bachelor’s in Management Information Systems and a Master’s in International Business.
Cox said, “I hope to significantly impact the future of BMC by effectively and efficiently carrying out mandates and initiatives to notably reduce expenses, improve the processing time and quality of credit underwriting, increase new loan disbursements, improve customer service and more importantly, reduce the number of non-performing loans.”
About The Bahamas Mortgage Corporation
The Bahamas Mortgage Corporation was established by an Act of Parliament of The Commonwealth of The Bahamas on August 19, 1983. The Corporation commenced operations on October 31, 1983, and is wholly owned by the Government of The Commonwealth of The Bahamas. The Corporation has amongst its functions the granting of mortgage loans to assist persons with the purchase, construction, or rehabilitation of their residential premises. The Corporation also provides financing for the purchase of land and the construction of housing units and similar projects, particularly those initiated by the Government.
The Corporation is headquartered in the Ruth Millar Administrative Complex on East Hill Street and has over sixty employees. The Corporation’s mortgage book totals over $215M represented by over 2,500 active mortgage loans.
