Early in her career, Joy Godfrey can remember sitting in a boardroom and being largely ignored by her male co-workers. "I was a young woman sitting at a table dominated by men,” she told The Suit Magazine. “Since my home country was not well known, they'd say, 'Where is Belize?' and then talk around me." But she was determined to surmount those challenges, and she has since founded a financial service organization with offices in five international countries and professional affiliations in some 15 additional.

Godfrey opened Cititrust International Incorporated in her homeland of Belize in 1994. "Since then, the company has really grown," she says. "We have a staff of thirty. And we now have offices in Barbados, Hong Kong, Belize and Panama, all of which provide full service."

Cititrust offers a range of financial services, including international company formation, advisory services, compliance, insurance, foundations and trusts. "We’re a one-stop shop," Godfrey explains. "We offer services anywhere in the world. We are able to provide high-level services with a wide base of [financial products]. We only affiliate ourselves with professionals, and we network. We also publish Cititrust Edge, a financial magazine." The business is also successful because of Godfrey's ability to recognize opportunities and devise a strong growth strategy. "There are several advantages to operating in our current areas, such as the low cost of producing and low taxation. [The cost of doing business] is a lot cheaper."


Godfrey always knew she wanted to use her education—a master’s in international taxation from Regent University, Virginia.  But the road home wasn't easy. "I started at Providence Bank, serving as a chairperson for five years," Godfrey recalls. "It was very challenging, but I decided to push on anyway,” she explained. “I wanted to eventually use my skills in Belize. I knew I would have to be bold in order to venture into the man's world of finance." Godfrey succeeded in taking Provident Bank through a merger with Alliance Bank to make it one of the only Belize-based international banks. Her motto was simple, but effective: “Stopping or failing is not an option.”


Reflecting on her uphill battle, Godfrey can now advise other women that the key is to "work harder and be more knowledgeable. Don't be afraid." Starting an independent venture was important to Godfrey for several reasons. "Doing your own thing is very hard, but fulfilling. Being able to bravely step forward when you believe in your decisions and others are too cowardly to do so is important," she says.

The economic downturn has not gone unnoticed at Cititrust. Godfrey explains, "We've faced issues in each country, so I had to sit back and regroup." But the difficulties came with an upside. "I was able to attract affiliations and professionals from abroad who can provide a high level of expertise." Ultimately, Godfrey’s goals go beyond personal success. "In these economic times, helping those less fortunate is satisfying. I hire people who need help. Of course, I have to worry about the survival of my business, but it's also important to do the right thing. Being my own boss has allowed me to do more."

Rather than resting on her laurels, Godfrey is proactive about Cititrust's future. “I need to do a lot more internationally with a focus on doing something new in North America," she says. "Right now, have a small percentage of affiliations with professionals there. I am looking at new ideas, including how to bundle new services. I'm working on expanding, adding new services and new offices all over the world." Godfrey continues to build on her role as a true visionary in the international financial services industry.


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