Overview
First Citizens Investment Services Limited (FCISL) gives you personal access to global opportunities. Our financial strength, matched by our industry expertise, keeps your portfolio ahead of the market.
Our Research Unit has become renowned for the world class analysis and thought leadership. We produce periodic publications on diverse economic and financial topics in all of the territories in which we operate.
Products and Services
Managed Accounts
A portfolio of investments created especially for you with your financial goals and
needs in mind. We assess your risk appetite along with your investment time
horizon and recommend a portfolio that you are comfortable with.
Benefits:
- Expert management by a team of professional portfolio managers and analysts
- Diversification through asset allocation and access to global markets
- Assignment of a dedicated Wealth Manager for consultation on your portfolio
Fees:
- From 1.5% per annum
Minimum investment: TT $1,000,000.00
Bond Trading
We are the leaders in bond trading at First Citizens Investment Services Limited.
With an active experienced bond trading desk, our traders liaise with key
international brokerage houses and receive up to the minute market information
and insights. This allows clients to diversify their portfolio away from solely equities
to local, international, sovereign and corporate exposures.
Benefits
- Access to a wide range of local and international fixed income securities
- Competitive pricing, no fees attached
- Quick execution of trades
- Real time market information
Fixed Income Paper (FIP)
This repurchase agreement is backed by a debt instrument issued by a
government or corporation.
Benefits:
- Securities pledged with the Trinidad and Tobago Central Depository (TTCD)/an independent custodian
- Competitive rate of return
- Relatively low risk (refer to the brief description of risk outlined in Risk Disclosure section)
- Fixed rate of return
- Low initial minimum investment of TT $100,000 or US $15,000
- No fees
- Upon maturity, your funds can be paid via an Autmatic Clearing House ?(ACH) payment or managed cheques
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Local Brokerage Services
We actively trade in equities through our subsidiary, First Citizens Brokerage &
Advisory Services — a member of the Trinidad and Tobago Stock Exchange
(TTSE), thereby ensuring that we provide a complete range of services which
cater to your investing needs.
Brokerage Account Benefits
Consolidation
Consolidate your investment portfolio into a single brokerage account which would allow you and your investment professional to regularly monitor and track your financial strategy and see how it is meeting your needs. As a client you benefit from:
- More control and Less Paper – Fewer accounts mean greater control and less paperwork.
- Convenient Account Access – day and night access, with a single login.
- Enhanced Service – With your assets combined into a single account, client service is centralized, so you will get improved response times.
- Experience the Power of Combining Assets – Combining your assets provides you and your investment professional with a more holistic view of your portfolio for more effective asset allocation.
Convenience
Dividends, interest and bond redemption proceeds for securities will be credited to your account on scheduled payment dates, and you can arrange to receive these proceeds automatically and on a regular basis. Your portfolio will also be monitored for possible early redemptions, tender offers, mergers, name changes and other corporate actions.
Member of SIPC
Pershing is a member of the Securities Investor Protection Corporation® (SIPC®). As a result, securities in your account are protected up to USD 500,000 (of which USD 250,000 can be for claims for cash awaiting reinvestment). For details, please go to www.sipc.org.
Excess of SIPC Coverage
In addition to SIPC protection, Pershing provides coverage in excess of SIPC limits from Lloyd’s of London, in conjunction with other insurers. The excess of SIPC coverage provides the following protection for assets held in custody by Pershing and Pershing Securities Limited, its London based affiliate:
- An aggregate loss limit of $1 billion for eligible securities—across all client accounts
- A per-client loss limit of USD 1.9 million for cash awaiting reinvestment —within the aggregate loss limit of USD 1 billion
Neither SIPC nor the excess of SIPC coverage protects against loss due to market fluctuation of investments. For more information about Lloyd’s of London, please see www.lloyds.com.
Simplicity
Selling your securities is as simple as contacting your investment professional. There is no inconvenience or delay in locating and delivering your securities when they are held in your brokerage account.
Short Settlement Cycle
The Securities and Exchange Commission (SEC) rule regarding three-day settlement requires that your securities transactions settle on the third business day following the trade. This means that when selling securities, your certificates are required to be in your brokerage account within three business days. Having your securities in a brokerage account eliminates the need to worry about your securities being delivered on time as the securities are already in your account.
- An excess of SIPC coverage claim would only arise in the unlikely event that Pershing fails financially and client assets for covered accounts—as defined by SIPC for Pershing LLC accounts or the Financial Services Compensation Scheme (FSCS) for Pershing Securities Limited accounts—cannot be located due to theft, misplacement, destruction, burglary, robbery, embezzlement, abstraction, failure to obtain or maintain possession or control of client securities, or to maintain the special reserve bank account required by applicable rules.
- The USD 1 billion aggregate loss limit for eligible securities is the highest policy offered in the industry.
- Only equities and load funds are subject to a three-day settlement cycle.
Fees
- Commissions – 1.25% of the trade value
- TTSE/TTCD – 0.21% of the trade value
We are located at:
17 Wainwright Street
St. Clair, Port of Spain
Trinidad & Tobago
Tel: (868) 622-3247
Email: brokerage@firstcitizenstt.com
Level 8-01, Gulf City Mall,
Gulf City Avenue,
Gulf View, La Romaine
Tel: (868) 653-9857
Email: brokerage@firstcitizenstt.com
Global Investment Solutions
First Citizens Investment Services Limited has partnered with Pershing LLC, a Bank of New
York Mellon subsidiary, and the industry’s leading business solutions provider to bring you
international trading access at your fingertips through a robust, user-friendly platform.
Benefits
- Secure method of trading on your own in US markets
- Access to equity and bond instruments on the US, Canada andother international markets
- Low initial account minimum of US $5,000*
- Option to trade on your own or with guidance
*Don’t have USD, but another available hard currency? Contact one of our Wealth Management personnel to get advice on how to proceed.
Fees
Trading on your own (US markets only)
- 0.65% of the value of the trade with a US $35 minimum
- US $2 custodian fee for securities held in a non-US market per month
- US $100 re-activation fee
Trading with guidance (US and most international markets)
- 0.95% of the value of the trade with a US $35 minimum
- US $2 custodian fee for securities held in a non-US market per month
- US $100 re-activation fee
Global Managed Portfolios
First Citizens Global Managed Portfolios give you an intuitive and integrated experience made to offer:
- Expertise
- Options
- Access
- A dedicated Investment Associate assigned to your account
Mutual Funds
Abercrombie Fixed Income Fund
Get higher returns on your investment dollars! A TT Dollar denominated Fixed Income Fund, returns are calculated daily and credited monthly and you have the option to reinvest in your fund.
Paria Fixed Income Fund
Enjoy greater returns from your US dollars! A US dollar denominated Fixed Income Fund, returns are credited monthly and you have the option to re-invest in your fund account for greater growth.
Immortelle Income & Growth Fund
Enjoy long-term capital growth on your investment! You can start your investment with at least $500 and make further investments of $100. Dividends can be re-invested into your fund.
El Tucuche Fixed Income Fund
Generate superior returns with the El Tucuche Fund! You get quarterly dividends and can start your investment with $1,000. You can make additional investments of $100. Dividends can be reinvested into your fund.
Liquidity Management
Let your capital work for you. When your company is liquid, this excess cash can earn superior short-term returns.
First Citizens Investment Services’ Liquidity Management Unit backs your investment with quality securities that gives you the best risk adjusted returns.
As the largest repo trader in the Caribbean, we will find a secure home for your funds, negotiating the most competitive rates while optimizing your returns.
We create portfolios with a mix of Money Market and Fixed Income instruments, trading USD10 to 15 million daily. An active secondary market is vital for liquidity management. Why let your bonds sit in a vault when you can leverage them for better returns?
Liquidity Management services offered:
- Immediate allocation of short-term funds
- Sourcing of long-term bonds within one to two days
- Confirmation and settlements within 24 hours
Other client services offered:
- Competitive pricing on the purchase and sale of bonds
- Ready access to information through our quarterly and weekly publications
Effectively managing risk:
- Protection against price risk – we own the underlying bond and do the hedging
- Instant rate information – quick turnover
- Strong legal documentation backing your investment
- Easy electronic transfer of bonds
By keeping ourselves in close touch with our customer base, we can always match a buyer with a seller and an investor with security, offering creative solutions to match your return expectations.
Contact us Today:
Trinidad (868) 622-3247
St. Lucia (758) 450-2662
Barbados (246) 426-2020
St. Vincent & The Grenadines (784) 453-2662
SEC Filings
September 2024
June 2024
March 2024
December 2023
September 2023
Client Notices and Advisories
Conflict of Interest Rules Statement
Conflict of Interest Rules Statement
First Citizens has completed the operationalization of Phase Two of the legal restructure of the First Citizens Group.
With the First Citizens Bank Limited Vesting Order, 2024 coming into effect on 1st October 2024, First Citizens Investment Services Limited’s shares were transferred from First Citizens Bank Limited to First Citizens Group Financial Holdings Limited.
This change required the submission of a Revised Conflict of Interest Rules Statement to our regulator, the Trinidad and Tobago Securities Exchange Commission (TTSEC). The revised Form 23 was filed with the Commission on 2nd October 2024.
Pursuant to section 67(3) (b) of the TTSEC Securities (General) By-laws 2015, we now share this statement with our clients.
Frequently Asked Questions
- What is a Conflict of Interest Rules Statement?
This statement declares to clients that First Citizens Investment Services Limited (FCIS) may have a connection with the securities that a client would have invested in through FCIS. For example, FCIS may be the issuer of the security, or FCIS may be related to the issuer. - Why am I receiving this statement now?
Upon being on boarded as a client with FCIS, you would have received the original Conflict of Interest Rules Statement. Following the corporate legal restructure of the First Citizens Group, this statement has been updated to reflect the new relationship between FCIS and the holding company, First Citizens Group Financial Holdings Limited. In accordance with section 67 (3)(b) of the TTSEC Securities (General) By-laws 2015 we are now required to share this updated statement with our clients. - What is the impact of this change in the statement on my relationship with FCIS or my investments?
There is no impact on your relationship with FCIS or on your investments. FCIS remains committed to being transparent in all aspects of interaction with our clients.
For More Information
Please see the referenced Securities By Laws on the Trinidad and Tobago Securities and Exchange Commission’s website at https://www.ttsec.org.tt/securities-by-laws-2015/
Should you have any additional queries, please email wealth@firstcitizenstt.com
Risk Profile Calculator
Contact Us
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- Trinidad and Tobago 02
- Barbados 03
- St. Vincent 04
- St. Lucia
First Citizens Investment Services
Trinidad & Tobago
Port of Spain Centre
17 Wainwright Street
St. Clair
Port of Spain
Tel: (868) 622-3247
Fax: (868) 627-5496
Email: northfcis@firstcitizenstt.com
San Fernando Centre
Level 8-01
Gulf City Mall
Gulf City Avenue
Gulf View
La Romaine
Tel: (868) 657-2662
Fax: (868) 653-4871
Email: southfcis@firstcitizenstt.com
First Citizens Investment Services
Barbados
One Welches,
St. Thomas, Barbados, W.I.
Tel: (246) 417-6810
Fax: (246) 421-2140
First Citizens Investment Services
St. Vincent
2nd Floor, Lewis Pharmacy Building,
Corner of James and Middle Streets,
Kingstown
Tel: (784) 453-2662
Fax: (784) 453-3800
First Citizens Investment Services
St. Lucia
John Compton Highway
Sans Souci
Castries
Tel: (758) 450-2662
Fax: (758) 451-7984
Board of Directors
Mr. Anthony Isidore Smart (Chairman)
Anthony Isidore Smart graduated from the University of Toronto, Canada with a Bachelor of Arts Degree (General), majoring in Economics.
He is an Attorney-at-Law who has been in private practice for 48 years, for 30 of which he led the law firm of Gittens, Smart & Company. He was an elected member of the House of Representatives of the Parliament of Trinidad and Tobago from December 1986 to November 1991.
At various times between January 1987 and February 1989 he was the Deputy Speaker of the House of Representatives, Minister in the Office of the Attorney General, Minister in the Office of the Prime Minister, and Chief Whip in the House of Representatives. He was Attorney General of Trinidad and Tobago from March 1989 to November 1991.
Mr. Smart was a tutor in Family Law at the Hugh Wooding Law School in the 1970s and was personally responsible for drafting the Code of Ethics for Ministers and Members of Parliament which was laid in the House of Representatives in 1988.
Mr. Smart was appointed as Chairman of the Board of First Citizens Bank Limited on June 17, 2014 and subsequently as Chairman of First Citizens Investment Services Limited, First Citizens Bank (Barbados) Limited, First Citizens Costa Rica S.A., First Citizens Holdings Limited and First Citizens Portfolio and Investment Management Services Limited.
He also served as Executive Chairman of First Citizens Bank Limited from December 4, 2014 to April 7, 2015. He was inducted into the Fatima College Hall of Achievement for Public Service in 2015.
Ms. Karen Darbasie (Director)
Karen Darbasie is an accomplished senior executive with over three (3) decades of experience in the financial services and telecommunications industries with a progressive leadership style underscored by excellence and vision. Prior to her appointment at First Citizens in April 2015 as Group Chief Executive Officer, Ms. Darbasie held several senior positions at a global financial institution based in Trinidad and Tobago, including Managing Director of the Merchant Bank, Country Treasurer and Markets Head.
Her local and international qualifications, which include a Bachelor of Science (BSc) degree in Electrical Engineering with First Class Honours from The University of the West Indies, a Master of Business Administration (MBA) with distinction from the University of Warwick and a Master of Science (MSc) with distinction from the University of Essex, allow her to draw from an extensive academic background, bolstered by an innate technical business acumen. Ms. Darbasie serves as a Director on several Subsidiary Boards within the First Citizens Group. A former Director of the Board of the American Chamber of Commerce of Trinidad and Tobago (AMCHAM), Energy Chamber of Trinidad and Tobago and St. Lucia Electricity Services Limited (LUCILEC), she currently serves as President of the Bankers Association of Trinidad and Tobago and Chairman of Trinidad Nitrogen Company Limited.
Mr. Idrees Omardeen (Director)
Idrees Omardeen became a member of the Association of Chartered Certified Accountants (ACCA) in 2004, five years after which, his expertise in the field granted him Fellow Membership status within the Association. With a keen eye for management, Mr. Omardeen operates the Omardeen School of Accountancy Limited, a family owned business.
At the school, Mr. Omardeen lectured all levels of accounting–from entry level to professional level. He also works in his family’s accounting practice and manages the property rentals as well as events and the family’s auditorium. Mr. Omardeen has recently started a new venture, or as he puts it – adventure, in the making of the finest blends of coffee for export and local consumption.
Mr. Omardeen was appointed as a Director of First Citizens Bank Limited on June 17, 2016 and subsequently as a Director on the Boards of First Citizens Investment Services Limited, First Citizens Depository Services Limited and First Citizens Brokerage and Advisory Services Limited.
Mr. Ryan Proudfoot (Director)
Ryan Proudfoot holds a Bachelor of Arts Degree (with Hons) in Accounting from the University of Kent at Canterbury, UK and a Masters of Business Administration in International Management from the University of Exeter, UK.
Mr. Proudfoot is the majority shareholder of Total Office, a Trinidad & Tobago headquartered group that helps Architects, Designers and Corporate Clients create great space’s throughout the English speaking Caribbean. From Jamaica in the north to Guyana in the south and another ten countries in between, the Total Office Group serves a population of six and a half million people.
Prior to this, Mr. Proudfoot had a highly successful career in banking, holding the positions of General Manager, BNB Finance & Trust Corporation and General Manager, BNB Treasury with Barbados National Bank Inc. (renamed Republic Bank (Barbados) Limited; and a subsidiary of Republic Bank Limited).
Mr. Proudfoot joined BNB after serving as Business Head and Vice President, Citicorp Merchant Bank Limited (Barbados Branch) where he was responsible for the re-establishment of Citibank in Barbados.
Mr. Proudfoot started his career at Citibank Trinidad as a Relationship Manager in Corporate Banking where he served for five years before moving to Barbados.
He was appointed to the Board of First Citizens Bank Limited on July 3, 2014 and subsequently as Chairman of the Board of First Citizens Investment Services (Barbados) Limited and First Citizens Brokerage and Advisory Services Limited, and a Director on the Boards of First Citizens Investment Services Limited, First Citizens Bank (Barbados) Limited and First Citizens Portfolio and Investment Management Services Limited.
Mr. Troy Garcia (Director)
Troy Garcia holds a Bachelor’s Degree in Business Administration from Stetson University, Florida, USA.
With over 24 years of experience and success in the fields of business and entrepreneurship, he is the Chief Executive Officer of Parts World Limited, Managing Director of High Performance Coatings and Honorary Consul General of Finland for Trinidad and Tobago.
Mr. Garcia was appointed to the Board of First Citizens Bank Limited on June 16, 2016 and subsequently to the Boards of First Citizens Investment Services Limited and First Citizens Depository Services Limited
Ms. Jayselle Mc Farlane (Director)
Jayselle McFarlane is a member of the Association of Certified Chartered Accountants (ACCA) holds an MBA and has experience in various sectors such as financial services, construction, hospitality and manufacturing. Her career as a Consultant emanated from over 23 years of diverse experience; with her functioning in leading roles at various international/multinational companies. As a Chartered Accountant, she was able to hold the offices of Finance Analyst, Financial Controller and Corporate Secretary in these international/multinational companies.
Ms. McFarlane is currently pursuing the Forensic Certified Public Accountant Qualification at Caribbean Institute of Forensic Accounting [CFA].
She was appointed to the Board of First Citizens Bank Limited as a Director on June 16, 2016 and subsequently as Deputy Chairperson on the Board of First Citizens Depository Services Limited and as a Director on the Boards of First Citizens Holdings Limited and First Citizens Investment Services Limited
Mr. David Inglefield (Director)
Mr. David G Inglefield’s business career has spanned 46 years in Trinidad and Tobago, Suriname, Guyana, Barbados and the USA.
Beginning in 1969 at Trinity Advertising Limited, he became Managing Director in 1978 and in 1981 acquired and merged the business with Corbin Compton Caribbean, was appointed CEO in 1982 where he remained until he resigned in 1993 and founded Inglefield, Ogilvy & Mather Caribbean Limited. During this period, he taught the third-year advertising and communications course at UWI.
Recognised as one of the leaders in the Caribbean on Strategic Business and Brand Development, in October 2003, he brought his considerable knowledge and experience to the ANSA McAL Group as a Parent Board Director and member of the Group’s Executive Committee. As Group Marketing Director, he played a decisive role in the acquisition of the Bryden’s Business Group in Barbados and its successful integration into the Group’s distribution business in Barbados.
During the period 2005 to 2015, Mr. Inglefield served in various capacities within the ANSA McAL Group including Group’s Distribution Sector Head. In 2007 he was appointed President/CEO of ANSA McAL (Barbados) Limited with responsibility for approximately $2 billion of assets under management. Returning to T&T in 2011, he took up the position of Sector Head Executive Chairman of Guardian Media Limited as well as Chairman of the four operating companies in the ANSA McAL Group’s Services and Retail Sectors.
Mr. Inglefield retired from the ANSA McAL Group in June 2015 and is now an active business consultant to major businesses in the State and private sector, including the ‘heavy’ manufacturing and petrochemical sectors. He also retains a consultancy role in the ANSA McAL Group.
He was appointed a Director of the Board of Trinidad Cement Limited (Cemex) and a member of the Board Audit and Governance Committees in 2016. Mr. Inglefield was appointed Chairman of the TCL Group in October 2019.
He also serves as a Board member of First Citizens Bank Limited, a Director of First Citizens Trustee Services Limited, First Citizens Investment Services Limited and First Citizens Bank (Barbados) Limited; and serves on the First Citizens Group HR and Audit Committees.
