Tribute to Pierre-Guy Noël |17 January 2024
Mr Pierre-Guy Noël
The creator of a humane company
Famous businessman Pierre-Guy Noël, former CEO of the MCB Group and Chairman of MCB Seychelles, passed away on December 27, 2023 in Mauritius after a long period of ill health.
Pierre-Guy Noël was a visionary leader, and over his 27 years at the helm of MCB Group, he successfully guided the transformation of the financial services group into the largest of our region. He will be remembered as the architect of the diversification and internationalisation of the banking and non-banking activities of MCB.
As an iconic leader, his vision guided the business towards new sources of growth that has put the Group in a stronger position for the future.
Pierre-Guy Noël also transformed MCB into a vital agent of economic progress in every country where it operates. In Seychelles, thanks to his great reading of opportunities, he did not hesitate to build Caravelle House in the early 2000s, a period when few investors dared to venture into real estate. Recognising the potential of tourism, he was not afraid to support the first large-scale hotel projects in Seychelles.
He also succeeded in creating a profoundly humane company, which significantly impacted all of us and the development of our country and society. He launched the MCB Foundation a few decades ago, widely recognised for its social role in Mauritius. Mr Noël is also behind the more recent project, the Success Beyond Numbers programme, defining Bank’s social objectives within which environment protection and climate action are highlighted as priorities.
Managing director of MCB Seychelles, Bernard Jackson, shared that “I have had an extraordinary privilege to work with Pierre-Guy since I joined MCB in 1999. I have learnt tremendously from my exchanges with him, challenging me at times but also being very supportive as Chairman of the Board. He was always a few steps ahead of the game. With his exceptional business acumen, he was quick to suggest the opportunities that we could be leveraging upon. In times of crisis, I have always been able to count on his light speed understanding of complex situations and his pertinent advice on how we could better navigate the risks.”
Mr Jackson remembers Mr Noël as a people-person type. “As a leader, I have always been impressed by his approachability and the consideration he displayed for all the persons he encountered. While intense and focused in the business meetings, he was always keen for a more casual exchange cracking jokes with our personnel during his regular visits to the Bank. We have enjoyed many celebrations with Pierre-Guy, whose company and choice of menus and wines would make each dinner a memorable one.”
“I will be forever thankful to Pierre-Guy for having believed in my potential to become the managing director of MCB Seychelles in 2015. While it would be impossible for me to replicate his tremendous career achievements, I will always be guided by his leadership model: a visionary and action-oriented approach to conducting business, which also places the right level of emphasis of the Bank's broader social responsibility towards all its stakeholders.”
MCB mourns a remarkable man who has always remained humble and approachable. The Seychellois who know him will remember him for the kindness and consideration he always showed during his numerous visits to Seychelles, a country for which he had tremendous affection. A lover of the sea, he was fond of his trips to its pristine waters, where he spent many holidays with his close friends and family members.
Back in the days…
Banque Franҫaise Commerciale – Océan Indien was set up in Seychelles towards the end of 1977. The Bank was registered on January 4, 1978 and officially opened on October 24, 1978, by the ruling President at the time, France Albert René. The candidate chosen by the Chairman of Banque Française Commerciale to champion this project was Allain D’Offay, who held dual French/Seychellois nationality. The initial operations, consisting mainly of opening of accounts, were done in one modest back-office room, situated on the ground floor of Mahé Trading Building.
A few months later, the Bank moved to a permanent location, in the same building, in offices, overlooking the Clock Tower, at the junction of Albert Street and State House Avenue. A dozen Seychellois were recruited to assist the two-expatriate staff in charge of the new Bank. Thereafter, the Bank was able to offer additional services such as loans, fixed deposits, documentary bills, cheque clearing, and letters of credit, among others. With a view to bringing its services closer to its customers in other parts of the island, two branches were then opened in 1979, one in Mont Fleuri and another in Anse Royale.
In 1992, as part of its strategy to become a regional player, MCB acquired Banque Française Commerciale in Reunion and thus became quickly involved in the operations of its Seychelles subsidiary. This international diversification initiative was spearheaded by Yvan Lagesse, the general manager of MCB, closely assisted by Pierre-Guy Noël, his adviser at the time and who later replaced him at the helm of the Bank. Mr Noël is therefore remembered as one of the key architects of MCB’s regional expansion which would lead it to foreign shores of Seychelles, Madagascar, Mozambique and Maldives among others.
With the Bank’s objective of getting closer to its customers and extending its services to the inner islands, the branches were opened in on Praslin (1989: Grand Anse) and 1997 (Côte d’Or) and in 1999 on La Digue. Banque Franҫaise Commerciale – Océan Indien was the first bank in Seychelles to implement a computerised core banking system in 1982. Henceforth, the Bank ensured continuous upgrading of its computer system to meet its customers’ expectation and match the services offered by competitors. The Bank made further headlines in 2002 as the first commercial bank in Seychelles to launch Internet Banking.
In 2003, 25 years after its implementation in Seychelles, the Banque Franҫaise Commerciale – Océan Indien took a new turning point, with the acquisition of 100% of its shares by MCB. Under the new ownership structure, the Banque Franҫaise Commerciale – Océan Indien changed its legal name to The Mauritius Commercial Bank (Seychelles) Ltd. or in short MCB Seychelles. Pierre-Guy Noël, being a firm believer in the future of MCB in Seychelles, supported financing decisions which allowed the launch of landmark projects in Seychelles notably the construction of large-scale tourism establishments.
In 2005, the Bank proceeded with a major investment, the Caravelle House Building. Pierre-Guy Noël, Charmain of the Board of MCB Seychelles, was again the bold visionary behind this new venture, which allowed the Bank to house all its staff and services under one roof. The whole of its banking business moved to this new location, except for two ATMs, which still remain at the Mahé Trading Building.
Today, the Bank’s presence is well covered including modern offices at Eden and Providence and 16 Automated Teller Machines spread over the three main islands. MCB Seychelles continues to invest in the latest technologies, for the benefit of both its customers and its employees. Its flagship product today is Juice, a mobile banking product which has become a very popular means of making payments. MCB Seychelles employs over 200 employees and aims to establish itself as a market leader. Under its Success Beyond Numbers programme, the Bank has sponsored various organisations and causes that share the same purpose of advancing the United Nations Sustainable Development Goals (SDGs). MCB Seychelles wants to focus on a sustainable future for Seychelles, engaging with the community to create awareness on the environment while promoting sports, arts and culture.
A memorial service has been organised by MCB Seychelles inviting staff and friends to honour the life of Mr Noël. It will be held tomorrow, Thursday January 18, 2024 from 4.30pm at the Cathedral of the Immaculate Conception, Victoria.
Compiled by Vidya Gappy
Photos: Contributed
