Donaldson out as Sagicor reorganises investment subsidiary
Published:Friday | July 24, 2020 | 5:12 PM
Sagicor Group Jamaica Limited has announced a reorganisation of its wealth subsidiary, Sagicor Investments Jamaica Limited, SIJL, leading to the departure of the current CEO Kevin Donaldson.
The position of chief executive and executive vice president, the titles worn by Donaldson, are being abolished on July 31 in what Sagicor describes as a strategic move.
Instead, SIJL is to be run by a general manager, a newly created position that will be held by Tara Nunes, starting August 3.
Nunes who is Sagicor Investments vice president for wealth management and client services is being appointed as “the responsible officer” for SIJL, for which she will hold the title of GM and report directly to Sagicor Group President & CEO Christopher Zacca, the financial conglomerate said in a market filing posted Friday.
In a related disclosure, the Jamaica Stock Exchange also announced that Donaldson, who was a Sagicor representative on the JSE board of directors, had resigned his seat effective July 24.