Grace Financial Services prepares for merger
published: Sunday | February 1, 2004

From left, Don Wehby, chief financial officer, Grace, Kennedy & Co. Ltd. and chief operating officer, Financial Services Division; Wayne Wray, managing director, George & Branday Ltd. and Chris Bovell, director, Grace, Kennedy & Company Ltd. at their recent meeting to discuss their companies' impending merger.

EMPLOYEES OF subsidiary companies of Grace, Kennedy Financial Services Division were briefed on all aspects of the impending mergers of entities within the Division at a meeting held at the PCJ Auditorium on Trafalgar Road on Tuesday, January 27.

They heard details of all aspects of plans for the mergers, and were given an insight into how it would affect them from leaders of the various committees which have been working to achieve a smooth transition.

Subjects covered included an overview of the merger, operations and risk management, communications, staffing, the legal and regulatory framework and the new premises and facilities.

The mergers being undertaken are the union of First Global Bank Ltd. and George & Branday Limited, both of which recorded outstanding performances during the last financial year. It is proposed that this merged entity will be known as First Global Bank Limited. Concurrently, the investment banking, stock broking, lease financing and pension fund management companies will be merged; the resulting entity will be known as First Global Financial Services Limited.