Commonwealth Bank director Clifford Culmer has stepped down after more than two decades in the role.

The announcement was made at the bank’s recent AGM.

Culmer, a chartered accountant, had served on the board for a total of 25 years. In his second term, 1998-2016, he was chairman of the audit committee.

“As chairman of the Audit Committee, he has served on the board in a position with one of the greatest demands, which he has done with strength, wisdom and integrity,” said William B. Sands, Jr. chairman of Commonwealth Bank. “There is no doubt that the Audit Committee, under his leadership, has sharpened management’s skills over the years and made us a stronger bank.”

Co-director and chairman of the Board’s Nominating Committee Rupert Roberts Jr described Culmer’s work as “an immeasurable contribution” and co-director Dr Marcus Bethel said Culmer’s contributions during the 32-year history of the Bahamian bank were unparalleled.