Business Briefs

New boss for securities depository

The Jamaica Stock Exchange Limited has appointed Andrea Kelly as general manager of the Jamaica Central Securities Depository Limited and its subsidiary JCSD Trustee Services Limited (JCSD) , effective April 2, 2018.

The appointment expands Kelly's previous post as manager of JCSD Trustee Services.

She takes up the vacancy as JCSD boss created by the departure of Robin Levy, who resigned to head the Jamaica Co-operative Credit Union League last November. Levy's other position as deputy general manager remains unfilled for the moment.

Kelly's background is an accounting and she has experience in trustee services, securities trading, settlements, investments, pensions and banking.

FCIB formalises plan for IPO

Regional banking group FirstCaribbean International Bank (FCIB) Limited filed a registration statement formally advising the United States Securities and Exchange Commission of its plans to launch an initial public offering (IPO) of FCIB common shares in that market.

The offer will be made through a subsidiary of Canadian Imperial Bank of Commerce, but the number of units and IPO price are yet to be determined.

The bank aims to list the shares on the New York Stock Exchange, but will also maintain its current listing on Barbados Stock Exchange, its home market.

Barclays Capital Inc, UBS Securities LLC and CIBC Capital Markets are acting as joint bookrunners for the offering.