The government is moving to install a new board of directors at state-owned financial institution First Citizens Group Financial Holdings, parent company of First Citizens bank.

Minister of Finance Davendranath Tancoo has confirmed to Newsday the names of the government’s nominees will be presented to shareholders as early as August 27. The minister said there are still more steps to be taken before the list of nominees is made public.

“That would be presumptive at this point. I want to hold until I communicate with the individuals themselves,” he told Newsday in a brief conversation on August 26.