In just a few short months, Sagicor Group Jamaica’s new President and CEO Christopher Zacca has restructured his executive team with the overall goal of creating greater focus, driving performance and improving asset returns. He has created clearer lines of demarcation between the different business units in terms of their executive leadership, while, he argues, also creating new opportunities for upward mobility.

Sagicor Investments is now headed by Kevin Donaldson, whose portfolio includes Jamaica’s largest stockbroker, an up and coming corporate finance unit and the Sigma mutual fund complex, as well as the investments on its own balance sheet.

Sagicor Bank has a new CEO, Chorvelle Johnson, formerly of Proven, who replaces interim CEO Philip Armstrong, who had himself replaced long-standing CEO Donovan Perkins.

As a key executive, Philip Armstrong is now executive vice-president, with the role of chief strategic and technology officer, and a key resource to the president’s office.

A key emphasis will be on teamwork and collaboration, with Sagicor Bank and Investments working closely together as lead arranger in Jamaica for the local financing portion of Jamaica Energy Partners.

Donette Scarlett now operates as senior vice-president and group treasurer, while Merrick Plummer is now vice- president group sales, having been former assistant vice- president individual life, a new “shared service role” designed to drive cross-selling and “cooperation” across the group.

The opportunity here is that the average Sagicor customer only has 1.3 products, and Sagicor has 600,000 direct customers (or 1.5 million including dependents).

http://www.jamaicaobserver.com/business-report/zacca-sets-about-restructuring-sagicor_127956