The financial and business communities have firmly endorsed the appointment of accomplished corporate leader Richard Byles as the new central bank governor, pointing to his successes in the private sector and leadership of the Economic Programme Oversight Committee (EPOC), which monitored Jamaica’s performance under its agreement with the International Monetary Fund (IMF).
Finance Minister Dr Nigel Clarke announced yesterday that Byles has been endorsed by the executive as the next governor of the Bank of Jamaica. He said the David Marston-led committee that was set up in January to search for a new head for the central bank had decided on Byles as an “eminently qualified, experienced, and credible leader” to succeed Brian Wynter. His tenure begins on August 19.
Chris Zacca, president and CEO of Sagicor Group Jamaica, said Byles’ immense contribution to the company cannot be adequately expressed in a few words.
“His contribution to the growth, development and profitability of this company and its team is extraordinary, having had a tremendous career over decades. He’s been a positive influencer to many, offering mentorship and guidance,” Zacca said.
“His departure as chairman will be felt deeply by all of us, but his rise to the role of governor of the Bank of Jamaica is truly remarkable for our nation, which he loves. Our entire team at Sagicor congratulates him and we are as happy for him as we are sad to see him go. We will ensure that we continue to build on the rock-solid legacy he created at Sagicor,” Zacca said.
Welcoming the selection, Bankers’ Association of Jamaica President David Noel told the Jamaica Observer that the members are all very supportive of the appointment.
“He has an amazing track record of not only public service, but also as a leader in the private sector in various financial institutions, so we believe he is a man of unquestionable integrity [and] he certainly has the experience in the financial sector,” Noel said.
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