Recognized as a champion of the digital revolution with over thirty years of experience in the finance and technology sectors, George Thomas’s journey to become a leader as the Chief Executive Officer (CEO) of Sagicor Bank (Barbados) Limited was a natural evolution. In fact, in his words, “I didn’t decide to become a leader.” He thought about being an engineer. He was working for a consulting firm, and they pretty much decided that he should be on a leadership track. “I wasn’t striving for it, but it happened.” During his time there, Thomas proactively closed a major deal for that company: “I found it, and we closed it.” And so one day he was an architect, and the next day he was running a practice. Literally happened like that, and he just progressed along the way from there. “I guess you could say it’s a calling.”
Navigating the Digital Vortex: The Banking Challenge
Thomas grasps that banking today is defined by relentless complexity. His primary mission is the simultaneous management of two massive forces: the need to consistently deliver high-quality client experiences and the challenge of navigating rapid digital transformation. This landscape is complicated by emerging threats like sophisticated cybersecurity risks and innovative forms of fraud. “The biggest challenges we have in front of us today are to consistently deliver high-quality client experiences while also managing the forces of digital transformation.” Thomas and his team are actively assessing how the AI and GPT phenomena can be leveraged to deliver value to clients and team members while remaining mindful of data privacy and security. His strategy is to adapt mindfully, focusing only on innovations that truly add value for their clients.
The Motivation: Patriotism and Legacy
Despite the high stakes, Thomas’s drive is deeply rooted in human inspiration and national pride. His greatest motivator is his team, whose daily efforts he finds inspirational. He is also motivated by the joy of seeing the end product delight the client.
Fundamentally, Thomas is a patriot, motivated by the opportunity to drive innovation in “little Barbados at the highest level.” His ultimate goal is to create a better space for the young people entering a rapidly changing world, aiming “to leave this space better for them and in the best state possible.”
Calculated Risk: The Digital Bank Model
Founding a new digital bank in the Caribbean requires substantial risk, which Thomas manages through meticulous, quantitative planning. He views it as a calculated risk, taken by Sagicor Financial Company Ltd., a legacy market-leading financial services institution, which, by the way, just celebrated 185 years of existence. George emphasized the need to assess the risk-reward and manage and control the risk without being cavalier. “You have to really be very quantitative about the what-ifs while being ready to work on formulating mitigation strategies for those what-ifs.” His operational strategy includes building multiple connections and built-in redundancies across all digital and business processes, ensuring continuity and recovery, echoing the principle of business continuity and disaster recovery essential for an internet-enabled enterprise.
The Inventive Spirit: Innovation Beyond Technology
For Thomas, “Innovation is not technology. Technology is one of the end products of innovation.” Drawing on the adage that necessity is the mother of invention, Thomas defines innovation as “inventiveness in light of necessities,” a continuous effort to creatively address existential challenges and improve the quality of life, product, and circumstance. This holistic view ensures his bank’s digital transformation remains purpose-driven rather than trend-driven.
Grit, Resilience, and First Principles
Thomas’s leadership is deeply shaped by early life experiences that instilled grit and resilience. Having overcome obstacles at a young age, “I believe in problem-solving, I often say let’s go back to first principles and let’s figure it out and let’s keep working it until we find a solution.” This reliance on first principles allows his teams to pivot and adapt plans as needed. Crucially, his personal history also affords him a measure of empathy in dealing with the circumstances of his team members and clients, ensuring high performance is achieved while remaining mindful of their state of mind.
A Game-Changer: The Launch of Sagicor Bank
The most impactful moment in Thomas’s recent career was the launch of Sagicor Bank itself. “The fact that Barbadians and Caribbean people were able to produce something as innovative as this, and I would dare say in record time, nine months. I think that was a game-changer!” In just two and a half years, the bank organically acquired 30,000 customers with a high satisfaction rate, demonstrating that the pursuit of excellence and innovation yields tangible, community-wide benefits.
The Daily Discipline: Atomic Habits
To maintain his focus and creativity amidst high stakes, Thomas adheres to a disciplined, incremental routine. He meticulously writes down everything he needs to do daily. He gives himself a “hero biscuit” (a small green tick) for every completed task, consciously applying behavioral psychology principles like dopamine release to sustain motivation. This habit aligns with the principles of the book Atomic Habits, underscoring his belief that “if you do the small things every day, consistently, eventually the aspirations will manifest.”
The Long View: Executing and Pivoting
Thomas balances immediate demands with the long-term vision of Sagicor Bank by maintaining a disciplined planning cadence that addresses the immediate quarter, the next year, and beyond. “We take a long view, we listen to our clients, you listen to your shareholders; one must have a plan, but be ready to make adaptations to that plan in order to achieve favorable outcomes.”
Advice for Leaders: Self-Mastery First
Thomas’s advice for aspiring leaders is counterintuitive: focus inward before leading outward. He champions self-mastery as the foundation of effective leadership. “You’ve got to work on self-mastery first. You’ve got to be able to lead yourself first if you aim to lead other people.”
He urges young professionals to learn their craft, embrace daily gratitude, and use atomic habits for incremental improvement. Thomas believes that leadership opportunities present themselves when preparation meets opportunity, stressing that developing strong Emotional Intelligence (EQ) is what ultimately encourages people to follow willingly.
