The Tribune

By Larry Gibson

The entire world’s a stage,

And all the men and women merely players:

They have their exits and their entrances;

And one man in his time plays many parts.

William Shakespeare – “As You like It”

One week ago, the late Timothy Baswell Donaldson, CBE, affectionately known to those close to him simply as ‘TB’ or ‘Bassie’, passed into eternity. TB was no ordinary figure; he was a pioneer in the educational and financial services sectors, registering an unparalleled string of ‘firsts’ in his long and illustrious career.

TB was a classmate of my father at the Government High School (GHS) back in the late 1940s. Every time I met TB he would always ask about my father and my entire family. He always reminisced and shared stories about their old GHS days. TB always conducted himself with the highest degree of civility…a more charming and stately person you could not find.

Notwithstanding all of his accomplishments in life, he remained a humble man whose carriage epitomised dignity and aplomb. I am told that if you ever had met his father, Bishop Dr. T.E.W. Donaldson, you would quickly understand from whence his demeanour came. I consider myself fortunate to have known him and to have served with him on two Boards - Commonwealth Bank and St. Andrew’s School. What a privilege it was to be the recipient of his vast knowledge, and to observe from up close his inimitable style. He was a master in the art of leading a meeting and consensus building.

Playing many parts

When Shakespeare wrote: “And one man in his time plays many parts”, little did we know that some 413 years later in the Bahamas these words would be so appropriate for one of our own. In his life, which he lived fully, TB served the Bahamas with distinction in the capacities of: civil servant, teacher, central banker, chairman of several domestic and international banks, ambassador and senator. His ability to ‘create’ was extraordinary, as he was the founding Governor of the Central Bank of the Bahamas and the founding chairman of the Securities Commission of the Bahamas - two regulatory pillars in this nation.

In the field of education he led by example, earning a Bachelor of Arts in Mathematics from Fisk University, a Masters Degree in Mathematics from the University of Minnesota, a Masters of Public Administration degree from Columbia University. Additionally, he held a Diploma in Public Finance from the International Monetary Fund (IMF) and was a Fellow of the London Institute of Bankers (FIB).

TB operated in an era where opportunities for Bahamians, in general, were limited, and you had to be twice as good as the foreign chap to have a chance of succeeding. Nonetheless, he prevailed and succeeded. While the financial sector generally overlooked Bahamians at that time, his involvement with - and contributions to - the Bahamas Institute of Bankers will be, perhaps, his most enduring legacy. The then- establishment often argued that Bahamians lacked credentials to advance in banking, even though there were growing numbers with first and second degrees. TB was a force behind the introduction and acceptance of the Institute of Bankers program in the Bahamas, the attainment of which jump-started the careers of many of our professional bankers today. I want to be very clear in stating that had it not been for the likes of TB and a few others, it would not have been possible for Bahamians to hold many of the senior positions that they hold today in many institutions. The advancement of Bahamians was something the ‘establishment’ had to be coerced into doing; it was not something that many willingly embraced. It is through these lenses that today’s generation of Bahamian professionals must understand the contributions of persons like TB.

In terms of contribution to national development, three significant assignments stand out in particular to me. In 1972, he was named Economic Advisor to the Bahamas Government at the Independence Conference in London. In 2007, he was named Chairman of the Council of the College of the Bahamas, at a time when significant restructuring was required to prepare for advancement to university status and, finally, in 2008, he headed the BTC Privatisation Committee. The latter two probably turned out to be the greatest of challenges of his career. However, history will show that all three of these assignments were pivotal on our journey towards national development.

National Honours

In 1973, TB was honored by Her Majesty the Queen for distinguished public service and made a ‘Commander of The Most Excellent of the British Empire’ (CBE). In our system of National Honours, this seems to be the award that goes with the position of Governor.

Given TB’s extraordinary contribution to country, is this sufficient? I guess that is a question for those who hold, or previously held, the reins of power. I am surprised that he was never given a knighthood while still alive. If it is deemed appropriate to do so, I believe that he is an appropriate candidate for the naming of some item of public infrastructure.

Conclusion

What I tried to do through this column is not to just show TB’s accomplishments, but more so to show how TB, in his own style, was able to built an enduring legacy during his time on ‘stage’. He could have easily taken other paths, but he chose to step up to the plate when the country needed him most. As we frame the national narrative, in this our 40th year of independence, let us not forget those on whose shoulders we stand.

Benjamin Disraeli (former British Prime Minister) once said: “One secret of success in life is for a man to be ready for his opportunity in life when it comes”. TB was prepared, and he was able to maximise his opportunities when they came, not just for himself but for future generations. ‘Requiescat in pace’… my friend and mentor.

Until next week…

NB: Larry R. Gibson, a Chartered Financial Analyst, is vice-president - pensions, Colonial Pensions Services (Bahamas), a wholly-owned subsidiary of Colonial Group International, which owns Atlantic Medical Insurance and is a major shareholder of Security & General Insurance Company in the Bahamas.