Development Bank's former CEO goes to tribunal over unpaid wages

Maldives Development Bank's former CEO, Noel Gregor Paterson-Jones, who resigned from his roles earlier, has gone to the Employment Tribunal over unpaid wages.

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[File] Noel Gregor Paterson-Jones, former CEO of National Development Bank --

Ameera Osmanagic

2025-05-16 16:52:49

Maldives Development Bank's former CEO, Noel Gregor Paterson-Jones, who resigned from his roles earlier, has gone to the Employment Tribunal over unpaid wages.

According to the tribunal's website, Noel filed the case on April 7 following his resignation on March 23.

Although the website mentions that the case concerns unpaid salaries and benefits, it did not include any specifics.

However, Noel's application was rejected by the tribunal on May 7, claiming Noel had not gotten himself a Dhivehi language interpreter despite being provided the opportunity to do so.

The government did not specify why Noel resigned before Maldives Development Bank could kickstart its work. Although the bank was launched in November last year, no work has been carried out yet.

Noel, who was appointed the bank's first CEO, was most recently the Chief Investment Officer of Saudi Arabia's National Infrastructure Fund. From 2013 to 2016, he was the Managing Director of UK Green Investment Bank.

Noel, who holds a degree in finance from Oxford University, was CEO of Sterling Waterford Securities from 2004 to 2013 as well.

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