The Bank thought it befitting to formally recognise Sir Cecil
Jacobs, first Governor of the Eastern Caribbean Central Bank
for his sterling contribution to the promotion and development
of the financial sector in the Eastern Caribbean Currency Union.
Accordingly, in July 2002, the Monetary Council agreed that
the auditorium at the headquarters building be named the “Sir
Cecil Jacobs Auditorium”.
Sir Cecil’s illustrious career began in the Treasury Department
of the St Kitts Government Service in 1941. In 1952 he was awarded
a scholarship and pursued studies in accounting in Leeds, England.
Sir Cecil became an Associate of the Association of Certified
Accountants, and later, a fellow of the Association. He received
further training at the Crown Agents and the Colonial Office
in London. Sir Cecil made a rapid rise within the St Kitts Government
Service; he acted as Financial Secretary from 1958 – 1961,
before being appointed on transfer as Financial Secretary, St
Vincent and The Grenadines.
In 1973 he was appointed Managing Director of the East Caribbean
Currency Authority (ECCA) which was then based in Barbados.
He led the negotiations for the withdrawal of Barbados from
the ECCA in 1974, and organised the transfer of the operation
of the institution from Barbados to St Kitts in May 1975.
Sir Cecil was appointed Governor of the Eastern Caribbean
Central Bank when it was established on 5 July 1983.
During his tenure in office, Sir Cecil managed the process
of conversion of the link of the EC Dollar from the Pound
Sterling to the US dollar. Thereafter, through appropriate
monetary management he ensured that the external value of
the currency was maintained. Sir Cecil retired from the Bank
On 15 June 2002, Cecil Albert Jacobs, MBE, CBE was awarded
Knight Bachelor of the British Empire (Civil Division) by
Her Majesty Queen Elizabeth the Second, for his lifetime service
in the financial and banking industry in St Kitts and Nevis,
St Vincent and The Grenadines, Barbados and the Eastern Caribbean.