Update: Orderly exit as Nam moves on from Eppley
Published:Friday | April 12, 2024 | 10:51 AM
After nearly a decade at the company, General Manager Justin Nam is parting ways with listed investment house Eppley Limited. Nam’s resignation is effective May 31.
The company made the announcement on Tuesday as it updated the market about two senior-level changes, both of whom are new entrants who previously worked with National Commercial Bank. Raymond Donaldson is being onboarded as the CEO on May 3, while Jeffrey Brown will also join Eppley that same day as chief investment officer.
Eppley is in the business of investment and project financing. It also operates the Eppley Caribbean Property Fund, which invests in and holds real estate assets in Jamaica, Barbados and Trinidad & Tobago.
There was no immediate word on whether Nam would also give up his seat as a member of the Eppley board that he was appointed to in January 2022.
Speaking with the Financial Gleaner, Nam said he was demitting office for personal reasons and that the orderly transition reflects mutual respect on both sides.
“There are some personal things that I want to push on my side. At the same time we’re managing expectations, and all I’ll say is that this is just a new chapter,” Nam said, while declining to comment on what his next career move would be.
Donaldson, the incoming CEO, has a 20-year track record in banking and finance in Jamaica, The Bahamas and the wider Caribbean. Most recently, he was vice-president of corporate and commercial banking at NCB, Jamaica’s largest bank.
Prior to that, Donaldson served as director of corporate and investment banking in The Bahamas and Turks and Caicos at CIBC Caribbean, formerly FirstCaribbean International Bank.
Brown, as chief investment officer, will work with Vice-President of Real Estate Denise Gallimore, and Assistant Vice-President for Credit Samantha Summerbell to grow and expand Eppley’s investments, the company said. He has held executive roles in banking in Jamaica and Barbados, most recently as head of loan structurings and syndications at NCB. His track record include positions at CIBC Caribbean, Scotiabank and PricewaterhouseCoopers.