Operations
The bank was started by Allen Stanford in 1986 in Montserrat where it was called Guardian International Bank. Allen Stanford's move into banking utilised funds he had made in real estate in Houston, Texas, in the early 1980s. There was no direct connection between Stanford's insurance business in Texas and the banking business.
Stanford relocated its operations to Antigua. The bank's portfolio was overseen by an investment committee consisting of Allen Stanford; his father; Laura Pendergest-Holt, Stanford Financial Groups' Chief Investment Officer; James M. Davis (Allen Stanford's college roommate), CFO of Stanford International Bank; and a resident of Mexia, Texas (where Stanford's US interests were based) with cattle ranching and car sales experience.
Read more about this topic: Stanford International Bank
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