Key Insurance has announced the appointment of a new head of finance.

This is the third management change since GraceKennedy took over in March, and comes as the conglomerate reorganised the board of directors at Key.

Key advised that Stuart Andrade has been appointed to the position of Chief Financial Officer effective July 1, 2020.

Prior to this appointment, Andrade worked for two years in the capacity of Assistant Financial Controller, Insurance Segment, GraceKennedy Financial Group Limited.

“The company takes this opportunity to welcome Mr Andrade and wish him all the best in the position,” Key Insurance said in a notice via the Jamaica Stock Exchange on Tuesday.

Andrade has been with GraceKennedy Group for over 14 years and has approximately 20 years’ experience working in finance.

He replaces finance director, Jacqueline Leckie-Johnson, who demitted office on June 19.

GraceKennedy took a majority stake in Key Insurance on March 2, 2020, which moved its position to 80 per cent from 15 per cent after acquiring the initial stake in December 2019.

Since that time, GraceKennedy enacted a series of measures to bolster the performance of the company.

It also filled top slots with GraceKennedy managers, with Tammara Glaves-Hucey assuming the role of general manager of the company.

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