Executives cited the value of this US licence as one of the attractive selling points for the group.

Capital and Credit Financial Group (CCFG) comprises three divisions: merchant banking and securities, money transfer and remittance business; and a unit-trust operation. But it seems like it’s the Groups international broker dealer and importantly license, Capital and Credit International (CCII), based in Florida that potential investors may be after.

Andrew Cocking, deputy group president and chief executive officer of the group's international business.

“Getting the broker dealer licence is a very difficult thing and so is very valuable. Some of those entities interested in getting Capital and Credit, while they have a particular interest in the bank, some of them have a very big interest in the broker dealer because they see that as a way in which they can expand their business outside of Jamaica and go into the diaspora to provide a second tier business,” said Andrew Cocking, deputy group president and chief executive officer of the group’s international business.

“We believe that any entity that wants to partner or acquire us will see this as very valuable and we see it enhancing the value of the group to any third party who is showing interest in us.”

CCFG launched into the US brokerage market in 2007 with the set-up of CCII, but the brokerage has not met expectations and has since forged an alliance with an American investment banking outfit as they position themselves to gain wider inroads into the industry.

In January 2010, CCFG inked a deal with Blaylock Robert Van (BRV) to collapse CCII into that entity’s operation. The deal gave CCFG a one per cent ownership in BRV with the option to increase its stake to 15 per cent.

CCII clients have been transferred to BRV but CCFG still retains the US dealer licence.

“We came to a point where we and the US system have been in turmoil,” said Campbell.

“Little us entered at the wrong time and we couldn’t make an impression despite efforts. But the licence is very hard to get so we have decided not to dispose of it yet.”

Indeed, executives cited the value of this US licence as one of the attractive selling points for the group.

PanCaribbeanBank, ultimately owned by Sagicor, is touted as the likely buyer, but Campbell would not confirm negotiations, and PanCaribbean group’s Donovan Perkins said he would neither confirm nor deny the reports, as is company policy.