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Stabroek News

Anya Schnoor, modern banker with old-fashioned values
published: Thursday | March 20, 2008

Neville Spike, Business Writer


Anya Schnoor - Rudolph Brown/Chief Photographer

You can ask Anya Schnoor, chief executive officer of Dehring Bunting and Golding (DB&G) and a senior vice-president of the Scotiabank Jamaica group, about her climb to the top, but don't expect to hear much about family contacts, or for her to tout school or education.

Instead you'll hear her talk about traditional values of hard work, trust and integrity.

"Your integrity is critical in the banking-finance sector," says Schnoor, 37.

"When someone works hard and gives their money to an institution to manage, it's based on trust that you will make the best decision on their behalf. My career to date has been built on the fact that I am trusted and that I will make the best decision on behalf of clients."

Schnoor was raised on those principles while growing up in Brown's Town, St Ann, and holds them dear.

"Grandfather Hans used to say that in life there are two things nobody can take away from you: your education and your reputation. 'Guard them both' he would say. I have never forgotten this advice."

Eagle's collapse

Hans Schnoor's advice was to prove timely for Schnoor who started as a management trainee with Eagle Unit Trust in 1992, later rising to become general manager between 1994 and 1998.

At the height of the financial crisis in the 1990s, Eagle Unit Trust - part of the failed Eagle group - was among a handful of companies that survived the near collapse of the sector with their reputation intact.

At the start of the crisis, customers were fearful of the pending collapse of the unit trust and pulled their funds en masse. But in a show of confidence, a large number later returned with their cheques to be reinvested with the trust.

When the Eagle Group eventually collapsed in 1997, the unit trust was one of the few entities in the group that was still making a profit. In the end, it was sold to DB&G.

"I'm very proud that when the Eagle Group collapsed that the trust played no part in the demise of the group," says Schnoor who holds a BA in finance and international management from Florida International University, United States.I'm especially proud that no unit holder lost money and that the company didn't need a bail out."

A natural leader

You can ask Anya Schnoor, chief executive officer of Dehring Bunting and Golding (DB&G) and a senior vice-president of the Scotiabank Jamaica group, about her climb to the top, but don't expect to hear much about family contacts, or for her to tout school or education....">

Schnoor's skillful handling of her unit did not go unnoticed.

In 1998, she was snapped up by the Pan Caribbean Financial Group., She worked with the group until 2006, when she was head-hunted by Scotiabank to take charge of its wealth management business. Shortly after her arrival, the bank acquired the high profile DB&G and gave it to Schnoor to run.

"Anya is bright, articulate and a natural leader," says Keith Duncan CEO of Jamaica Money Market Brokers Limited (JMMB) and immediate past president of the Jamaica Securities Dealers' Association (JSDA).

"I have known her for 10 years and you don't find too many people who are as capable and hardworking."

In her new job within the banking group, she has responsibility for Scotia Jamaica Life Insurance and Scotia private client group.

She was named CEO of DB&G last year, after Scotiabank acquired the investment bank - its stake is now 77.01 per cent - having struck a deal initially with top shareholders Peter Bunting, Mark Golding and Gary Sinclair.

Outside of her DB&G-BNS responsibilities, Schnoor is also president of the influential JSDA, a 25-member grouping of investment houses. In this role, she is not one to shy away from issues she feels are important to members.

In November last year, for instance, she had concerns about the Bank of Jamaica (BoJ) becoming the chief supervisory body in the financial system and said so, after BoJ governor Derick Latibeaudiere floated the idea of the central bank as sole regulator.

Schnoor said that while she was in favour of one regulator for the system, "that regulator shouldn't be the BoJ, but a separate entity", much like the system in England.

Her directness and skills have earned admiration among her peers.

Wealth of knowledge

Eva Lewis, a vice-president and head of Capital Markets at Citibank NA, describes Schnoor as "a professional with deep knowledge of the financial industry".

"I enjoyed working with Anya on the executive committee of the Primary Dealers Association in the '90s," said Lewis. "Her steady

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