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Courtney Campbell appointed VMBS President and CEO

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Former CEO of First Global Bank Courtney Campbell has been appointed President and CEO of Victoria Mutual Building Society (VMBS).

Campbell, who was also CEO of Grace Kennedy Financial Group, steps down as CEO of GraceKennedy Financial Services and First Global Bank (FGB) on January 31. He replaces Richard Powell effective April 18.

Chairman of the Board of Directors of VMBS, Michael McMorris says Campbell’s appointment follows the impending retirement of Powell and the need to replace him with someone who is equally capable and prudent.

He says Campbell “possesses those credentials and has demonstrated a talent for developing customer-centric growth strategies which will serve uswell inour relentless commitment to enhancingMember value and the Victoria Mutual customer experience”

McMorris says Campbell’s experience and track record perfectly suit the company’s needs as it continues to grow as a diverse financial group. He says the board is “energized about the future of the Group and confident that Victoria Mutual will continue to play an ever essential role in the lives of Jamaicans and their mission of achieving Financial Independence”.

Meanwhile, Grace Kennedy has brought in Portland Private Equity partner Mariame Robinson to head FGB, with Paula Robertson-Barclay, who headed the bank’s credit risk department, being promoted to general manager.

Robinson says her focus will be on low hanging fruit to make the bank more efficient. And Portland says her focus has been on deals.

Several other changes have also been made at the entity with Grace Burnett, who currently heads GK General Insurance, set to assume the role of CEO of GraceKennedy Financial Group

Steven Whittingham has also been appointed as chief investment officer for the group with responsibility for devising and executing strategy across GK’s businesses, and identifying and leading key investment opportunities. He will also continue to lead GK Capital Management Limited as its CEO.

In a statement released yesterday, Wehby said he believes the changes will strengthen the leadership team and “allow the company to achieve our goal of becoming a global consumer group and a significant player in the regional financial sector”.
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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

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JSE Online Trading Platform

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Grace Stockholders To Vote On 3-for-1 Stock Split Today

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Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

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UK Loses S&P Triple A Rating

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The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

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Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

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Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.

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