BCSDI Custodian Trust Services Inc. (BCTSI) was incorporated in Barbados on January 28, 2021 and is the wholly owned subsidiary of the BCSDI. It was established to consistently deliver cost-effective and dependable custodian and trustee services to members of the financial services industry.

Through the Manager – Trust & Fund Services, the affairs of the BCTSI are administered by a Board of Directors which is separate and distinct from those of the BSE and the BCSDI. In accordance with its By-laws, the Board of the BCTSI consists of a minimum of one (1) Director and a maximum of nine (9) Directors headed by the current Chairman of the BSE Group. The Chairman is joined by the present Managing Director of the BSE Group, as well as the group’s Deputy General Manager – Operations.

overview of services

As one of the critical players in the local financial services landscape, the BCTSI’s role as Custodian and Trustee for various investment arrangements, is to enhance the functioning of the capital markets while strengthening investor protection. The BCTSI provides complementary services to the Barbados Central Securities Depository Inc. as well as those public, private and government organizations raising capital or offering investment products in the local capital market. 

Bond Trustee Services 

A Bond Trustee is a trusted and highly regulated third-party entity that plays a vital role in monitoring and managing a government or corporate issuer’s compliance with the terms of the bond issue and ensures that the interest and principal payments are made as planned.  The Bond Trustee also safeguards the interests of the bondholders in events of default. 

Insurance Reserve Fund Trustee Services 

An Insurance Statutory Fund Trustee is a highly regulated company that operates under license to act, in conjunction with the Financial Services Commission (FSC), in a fiduciary capacity ensuring the safety of assets, the administration, monitoring, reporting and holding title to the insurance fund assets for the benefit of the Insurance Company’s policy holders.  

Mutual Fund Custodian Services 

A Mutual Fund Custodian is a highly regulated institution which plays a crucial role in ensuring regulatory compliance and investor protection in the safekeeping of the mutual fund assets, mitigation of risk of loss, theft or error in respect of the ownership of assets.  

Delisted Shares and Dividends Trust Services   

If a company decides to wind-up, restructure, or de-list its shares from the Stock Exchange, a Trustee is required for making final distributions and managing unclaimed dividends and other payments to investors. The BCTSI partners with these companies and the FSC to ensure that shareholders’ monies are accessible to them after the corporate action is completed. 

BCTSI Directors


Randall D. Belgrave is a Senior Counsel and Chairman of the Board of Directors of the Barbados Stock Exchange Inc. (BSE), the Barbados Central Securities Depository Inc. (BCSDI) and a Director of other corporate and non-corporate organizations.

Mr. Belgrave is a member of the Barbados Bar Association, a fellow of the Chartered Institute of Arbitrators and he serves as legal counsel to several corporations including Royal Bank of Canada, Caribbean Financial Services Corporation and Popular Discounts Inc.

He is a graduate of and holds a LL.B (Upper Second Class Honours Degree) from the University of the West Indies (U.W.I) and the Legal Education Certificate (L.E.C.) from the Hugh Wooding Law School. His main areas of practice are in Banking, Civil, Commercial, Corporate, Offshore, Trusts, Labour and Real Property Law.

Mr. Belgrave is married and the father of two (2) sons.


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Managing Director
Mr. Marlon E. Yarde
 has been with the Barbados Stock Exchange Group since November 1, 2003. The Group includes the parent, Barbados Stock Inc (BSE) its subsidiary, the Barbados Central Securities Depository Inc. (BCSDI) and the subsidiary of the BCSDI, the BCSDI Custodian Trust Services Inc. (BCTSI). He currently holds the position of Managing Director and CEO within the Group.

Mr. Yarde has played a leadership role in the significant developments within the BSE over his twenty years tenure, including the BSE’s demutualization and the launch of the International Securities Market.

Mr. Yarde, a Chartered Accountant with his professional qualifications being a Fellow of the Chartered Professional Accountants Association of Canada and a Fellow of the Institute of Chartered Accountants of Barbados.

He is also a Chartered Governance Professional and Chartered Secretary holding a Fellowship designation from the Chartered Governance Institute given in London.

In addition, Mr. Yarde holds a Bachelor of Laws Degree from the University of Huddersfield in the UK and a Master of Laws Degree, specializing in Securities Law from Osgoode Hall Law School of York University in Toronto, Canada.

Mr. Yarde is currently pursuing a Doctorate Business Administration (DBA) degree from the Edinburgh Napier University (ENU), Scotland. His proposed research topic is, “The Integration of Regional Capital Markets: Understanding Securities Legislation and Corporate Governance Practice and Codes within CARICOM.” He has completed a Post Graduate Certificate in Business and Management Research Methods from ENU.

Mr. Yarde is a keen supporter of and advocate for excellent corporate governance practice in Barbados and the wider Caribbean.


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Deputy General Manager – Operations
Ezra Marshall has been with the Barbados Stock Exchange Inc. (BSE) and Barbados Central Securities Depository Inc. (BCSDI) since June, 1998. He holds the post of Deputy General Manager of the BSE & BCSDI, and Director/COO of the newly formed BCSDI Custodian & Trust Services Inc. He is directly responsible for all operations.

Mr. Marshall has, in his twenty-five (25) years with the BSE, been in the forefront of the implementation of electronic trading, clearance and settlement systems for the BSE & BCSDI. His input has been instrumental in the creation of a technologically sound, worldclass stock exchange and its depository which is compliant with internationally recognized trading and settlement standards.

Mr. Marshall holds a Bachelor of Science in Economics from the University of the West Indies – Cave Hill and a Masters in Business Administration with specialization in International Business from the University of Liverpool. In addition, he has participated in securities training at the US Securities & Exchange Commission, the World Trade Center and Bombay (Mumbai) Stock Exchange.

Mr. Marshall has a wide range of interests, District Emergency Organization (Chairman-St James Central), Member of Committee of Management (Barbados Cricket Umpires Association), Member of National Domino Association & National Darts Associations, President Benfica Cricket Club.


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Gillian Marguerite Henderson Clarke
is a third generation lawyer. She is one of the founding partners of Clarke Gittens Farmer and currently the head of the firm’s Corporate Department.

Gillian’s practice spans a range of corporate and commercial matters, including corporate structuring, tax planning, mergers & acquisitions and finance. She also advises on the establishment of charitable trusts, registered charities and non-profit companies, and has been an advisor to the Barbados Gallery of Art Trust since 1989.

Gillian has gained certifications in alternative dispute resolution from the Kellogg Graduate School of Management, Northwestern University in Chicago and Harvard Law School, and is an Accredited Mediator and Member of the Centre for Effective Dispute Resolution (CEDR) in England. She is also a member of the Society of Trust and Estate Practitioners.

Gillian serves as a director of several local, regional and international private companies, including a subsidiary of the GraceKennedy group of companies and BCSDI Custodian Trust Services Inc. Gillian is a Trustee of the Barbados Gallery of Art Trust, the Peter Moores Barbados Trust, and a Member of the board of the Barbados National Art Gallery. She was a director of Lex Mundi, the world’s leading network of independent law firms, for five years.

Gillian has participated over many years on several national public/private sector consultations on Barbados’ corporate, securities, tax and economic substance legislation and policy, often with a focus on the international business and financial services sector, including service as a member of the task force which advised and supported the Government of Barbados on the OECD BEPS Initiative, and currently as a member of the Barbados Tax Task Force. She is also a member of the Legal Professional, and Corporate and Trust Service Providers’ Committees of BIBA, the Association for Global Business.

Mrs. Maureen Chung

Mrs. Maureen Chung
is a retired banker having spent 45 years in the financial industry, where she gained invaluable knowledge and experience in Pension Administration, Mortgage Lending, Estate Planning, Trust Administration, Investment Management, Mutual Fund Administration and Brokerage.

Mrs. Chung held several positions with Royal Bank and its affiliates and was the Manager of Investment & Trust Services.  During her tenure, the services provided by Mrs. Chung and her team formed the basis of the joint venture between Royal Bank and Royal Fidelity Merchant Bank & Trust (Barbados) Limited.  

In 2005, Mrs. Chung retired from her substantive post with Royal Bank. She was solicited to work for Royal Fidelity Merchant Bank & Trust (Barbados) Limited and remained with the company until December 31, 2015 when she retired as Manager of Pension Services.

Mrs. Chung has been involved with the development of the Securities Market as it relates to the establishment of the Barbados Stock Exchange, and attended several conferences both in Jamaica and Barbados.  She was a tutor of the Mutual Fund Course offered by the Barbados Community College and a member of BARP’s Investment Committee.

Mrs. Chung is a graduate of the University of the West Indies in Management Studies and is an Associate of the Institute of Canadian Bankers.

Board Support


Manager – Trust & Fund Services
Nicole C.Weekes, a former Manager Trust Services with a regional financial institution, is a seasoned Trust Management professional, with almost 20 years of experience in helping corporate clients achieve their regulatory, investment and best practice goals and objectives.   Her deep expertise in managing registrar, paying agency and trusts for private and public placements, insurance and corporate trusts, estates and mutual fund custody has earned her a reputation as a leader in the industry.

Nicole has completed her STEP Diploma in International Trust Management (Dist)., Project Management and International Mutual Fund qualifications as well as the Eastern Caribbean Securities Market Certification Programme which has equipped her with a strong foundation which enhanced her knowledge and skill in the field.

Outside of work, she is a lifelong learner, enjoys volunteering her time with charitable causes and is involved with creative ventures which provides her with new perspectives and a passion for improving and adding value to any pursuit in which she is involved.

saabir weatherhead, FccA, Bsc

Manager – Accounting & Finance
Saabir Weatherhead joined the Barbados Stock Exchange Inc.’s group of companies in August 2022, in the role of Manager – Accounting & Finance.

He is a finance professional with close to 15 years expertise in auditing, accounting, and finance matters across various industries, having worked within multiple large conglomerates. His strategic mindset and analytical acumen have been instrumental in guiding financial success across these companies in his various roles.

Saabir holds a Bachelor of Science in Economics & Accounting from the University of the West Indies – Cave Hill Campus. In addition, he is a Chartered Accountant who is a Fellow of the Association of Chartered Certified Accountants (ACCA) and a member of the local accounting body, Institute of Chartered Accountants of Barbados (ICAB).

Saabir manages and has oversight for all financial related matters of the Barbados Stock Exchange Inc., Barbados Central Securities Depository Inc. and the BCSDI Custodian and Trust Services Inc.

Kerry Greene, BSC

Corporate & Executive Secretary
Kerry Greene
 is the Corporate & Executive Secretary of the Barbados Stock Exchange Inc’s group of companies. With over twenty (20) years’ experience in the Capital Markets industry, Ms. Greene provides invaluable support to the enduring success of the Exchange.

Ms. Greene has been actively involved in several projects at the BSE, including the Demutualization on December 22, 2015. She lends her strategic assistance and operational insights to the Managing Director, the Deputy General Manager and the Board of Directors in support of all major initiatives at the stock exchange.

Prior to joining the BSE, Ms. Greene worked within the legal fraternity. She holds a BSc in Social Sciences from the University of the West Indies – Cave Hill Campus and has pursued additional training throughout the years, to enhance her professional skills and qualifications. She is a member of the Chartered Governance Institute of Canada.

Ms. Greene has a wonderful sense of humor and enjoys interacting with her colleagues and clients alike.