Donna Duncan-Scott has taken on an expanded role in Jamaica Money Market Brokers (JMMB) as head of human resources, stepping into a vacancy created by the resignation of Lola Fong Wright.

Duncan-Scott who ran JMMB up to 2005 when she handed control to brother Keith Duncan, had taken a far less visible role as group executive director with responsibility for culture and leadership development in the company.

"In looking at where the company is going this year and how complementary culture and leadership development and human resources were she thought it best to pursue private consultancy offering service to financial institutions to help build staff compliment," said Imani Duncan-Waite, JMMB marketing manager.

Second manager to leave

Fong-Wright is the second manager to leave the company in March; the other was marketing manager Margaret Cremin into whose slot half-sister Duncan-Waite stepped.

Duncan-Waite said Fong Wright would be going into private consultancy, a path also chosen by Cremin.

JMMB since last year has been realigning its operations in the midst of the economic slide, cutting approximately 14 per cent of its workforce.

The hardest hit was its insurance brokerage unit where six positions were made redundant.

Cecile Cooper who previously acted as interim manager of JMMB Insurance Brokerage has been given a one year renewable contract to run the outfit.

Changes complete

Cooper, who replaced Michelle Neita who departed the company in January, is expected to turn the loss making operation into a profitable one with a focus on the general insurance market.

Duncan-Waite said the management changes were complete.

At the board level, director Ram Ramesh has also resigned effective April 1, a development the company suggested was not entirely unexpected, given that CLICO's 40 per cent shareholding in the brokerage is imminent under the bailout of parent CL Financial group.

"Given what has happen then this was expected," said Duncan-Waite. "It's only a manner of time until another financial institution closes on a particular deal and an appointment is made."

Ramesh joined the JMMB board earlier this year as representative of CLICO.

sabrina.gordon@gleanerjm.com

SOURCE: Financial Gleaner, Thursday, April 9, 2009