Byles new BOJ governor

Minister of Finance and the Public Service, Dr Nigel Clarke yesterday announced the endorsement by the Cabinet of the selection of Richard Byles as the next governor of the Bank of Jamaica.

Clarke said: "In January of this year, I appointed a Search Committee chaired by Mr David Marston to lead an open and transparent search for a new Central Bank governor. I'm very pleased that the search process has yielded an eminently qualified, experienced, and credible leader in Mr Richard Byles to succeed Mr Brian Wynter as Governor of the Bank of Jamaica. Mr Byles will succeed Governor Brian Wynter as Governor on August 19."

Byles has had a 40-year career in business and finance and is one of the most accomplished corporate leaders of his generation.

He was appointed managing director of Pan Caribbean Merchant Bank in 1988 before his appointment as CEO of the Pan Jam group, a leading, diversified conglomerate in 1991.

He led Pan Jam for 13 years before taking over as CEO of Sagicor Jamaica in 2004. Byles retired in 2017 and was appointed non-executive chairman in that same year.

In addition, he has been chairman of Red Stripe and a non-executive director of several other companies.

Byles was co-chair of the Economic Programme Oversight Committee (EPOC) formed to monitor Jamaica's performance under its IMF agreement.

Byles hold bacherlor's and master's degrees in economics and national development.

Clarke expressed: "I have every confidence that Mr Byles will bring to the job of governor the focused, principled, and disciplined leadership that has characterised his career."