Business leaders give thumbs up to new BOJ governor

Business leaders give thumbs up to new BOJ governor

Wednesday, August 21, 2019

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It's official. Richard Byles is now the new governor of the Bank of Jamaica (BOJ). Byles took over his new role as governor at the (BOJ) on Monday (August 19), replacing Bryan Wynter.

Byles, the 12th individual to hold the post of governor of the the country's central bank, enters his new job with a wealth of experience and major successes in the private sector.

The Jamaica Observer's Business Report, sought the views of business leaders on the appointment of Byles, and their responses are presented below:

Keith Duncan — co-chair of the Economic Programme Oversight Committee (EPOC)

EPOC welcomes Richard into the role of governor. He brings tremendous experience from the private sector and has delivered significant public service to Jamaica. We acknowledge his passion and drive to continue in bringing his skills and expertise acquired in business over the years to the Bank of Jamaica to ensure the continued strengthening of the economy. Through his contribution via this new chapter, we look forward to his success in the continued strengthening of monetary policy for our country.

Howard Mitchell — president of the Private Sector Organisation of Jamaica (PSOJ)

“The PSOJ supports and endorses the assignment that Mr Byles has accepted as governor for the BOJ. He comes to the post with tremendous management experience; we believe he is the right person to conduct the transformation of the bank to an independent central bank because of those management skills. He understands the Jamaican market place and has a very good working knowledge of government and statutory processes. We think that, supported by a capable technical staff, he will be the right person to interpret, communicate and effectively implement the changes that are necessary to make the bank an independent central bank. We wholeheartedly support him.”

Richard Pandohie — president, Jamaica Manufacturers and Exporters Association (JMEA)

“The JMEA applauds the appointment of Richard Byles as governor of the BOJ, now having officially taken his role. Richard's track record of success in the private sector has been tremendous, and his reputation as a true servant of Jamaica was cemented in his non- partisan approach while chairman of EPOC. Our expectation is that Richard's mix of experience and practical approach will lead to dialogue with all stakeholders and will result in monetary and regulatory policies that will facilitate economic growth — especially in the productive sectors. We wish Richard well and stand ready to be a true partner to the BOJ and more importantly, to Jamaica.”

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