**William B. Sands, Jr.
President & CEO
Commonwealth Bank Limited**

The Bahamas Financial Services Board has announced William B. Sands as the recipient of its 2004 Executive of the Year award.

The award is part of the annual Industry Excellence Awards Programme, during which BFSB pays tribute to industry practitioners in three categories: Executive of the Year (CEO level); Professional of the Year (Management / Supervisory Level); and Achiever of the Year (Junior/Support Level).

**2004 Recipient**

William B. Sands, Jr. began his career thirty-three years ago with Commonwealth Bank as a Junior Collections Officer in the Freeport Branch. Over the years he has risen through senior management ranks, holding posts of Branch Manager, District Manager, Vice-President and Senior Vice-President. In 1997, he was appointed President and CEO.

In this capacity, he maintains a position on Commonwealth Bank’s Board of Directors, serving as a member of the Bank’s Premises, Nominating, Pension Fund, Finance and Audit Committees.

Under his leadership, the bank has grown from a small savings and loan facility to a major financial institution. It has realized seven consecutive years of record profit and significant growth. He is credited with driving and executing the revamping of the company’s organisational and capital structure and, among his many responsibilities, with developing and reviewing business and financial strategies and processes, as well as evaluating and improving methodologies.

Ongoing employee training is a vital part of Commonwealth Bank’s focus, guided by management’s commitment to excellent customer service and the maintenance of the highest standards of conduct. The President and CEO has undertaken the mission to ensure that all levels of staff receive unrivaled, first-rate training, in-house, locally, and abroad.