Robert Bradshaw Elevated to the Chair of The BSP Financial Group Limited Board

by Tara Vele

On 27 February 2023 BSP Financial Group Limited (BSP) announced Sir Kostas Constantinou, OBE will retire as Chairman and Non-Executive Director effective 28 February 2023. Sir Kostas in April 2009 joined BSP as a Director, then known as “Bank of South Pacific Limited”. He was then appointed to the position of Chairman of the Board in February 2011. Under Sir Kostas’s tenure as Chairman, BSP has achieved several significant milestones across the Pacific and South-East Asia.

Notable key achievements include the expansion of banking operations (through acquisitions) in several Pacific countries, the establishment of an asset financing arm (in Fiji, PNG and Solomon Islands), entering the asset finance markets in Cambodia and Laos via joint ventures, establishment of a new life insurance business in PNG and a dual listing on the ASX in May 2021. The BSP Board expressed ‘its sincere appreciation to Sir Kostas for his leadership and commitment over the many years’. Sir Kostas commented, “that it has been a privilege to have been part of BSP’s successful journey, driving business growth and expansion in the region.” He further thanked the fellow Directors of BSP, for their support over the years and wished them, and BSP, continued success in the future.

Mr Robert Bradshaw replaces Sir Kostas as the Chairman of the BSP Board. Robert has served as a Non-Executive Director with BSP since 2017, as well as the Chairman of BSP’s Renumeration and Nomination Committee. A lawyer by profession, Robert has practiced law for 20+ years and has a wealth of experience in private legal practice in different areas of law particularly resource development, industrial relations, banking and finance and commercial litigation. As the Chairman-elect Robert paid tribute to Sir Kostas’s enormous contributions and thanked him for his dedication and commitment.

State Enterprises Minister William Duma in welcoming Mr Robert Bradshaw’s appointment commented that, “his broad business experience at a high level makes him an excellent choice to lead BSP as it navigates the challenging times PNG is facing at home and abroad”. Minister Duma further stated that, “BSP plays a significant role in the daily life of the nation being an important element in nation building” and “Kumul Consolidated Holdings LTD and its State-Owned Enterprises look forward to engaging with Bradshaw and BSP as the Marape Government continues with its national reform agenda”.