Left: Former finance manager at NHT, Hugh Reid, has taken up a new job with VMBS. Right: Earl Samuels, NHT managing director, says Hugh Reid's departure is a loss. - File photos

Former Senior Director of Finance at the National Housing Trust (NHT), Hugh Reid, is now heading operations at Victoria Mutual Building Society (VMBS).

Reid, who resigned from the Trust effective September 23, took up his new job a week later on October 1, as senior vice-president of building society operations and chief operating officer, the Financial Gleaner understands.

Reid was with the NHT for seven years when he joined the Trust in June 2000 as senior director, Finance.

The Financial Gleaner has learned that his position at the Trust has now been made redundant.

Martin Miller the chief financial officer at NHT will continue to manage all of the organisation's finances.

NHT managing director Earl Samuels said he considers Reid's departure from the organisation a great loss.

"I was hoping that he would succeed me one day," Samuels told the Financial Gleaner, describing Reid as an excellent worker.

In the meantime, the Financial Gleaner has learned that VMBS director Allan Lewis has taken over the role of David Wan, the former general manager for Victoria Mutual Wealth Management, who resigned his post on July 31 this year.

susan.gordon@gleanerjm.com