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New appointments for Zacca and James at Sagicor

Wednesday, July 10, 2019

Christopher Zacca, president and CEO of Sagicor Group Jamaica, has now also been appointed chairman of Sagicor Investments Jamaica Limited (SIJL), following Peter Melhado's resignation from the SIJL board as a result of him being appointed chairman of the board of Sagicor Group Jamaica on July 2.

In a press release sent on Tuesday, Zacca's appointment as chairman of Sagicor Investments Jamaica Limited took effect on July 8.

Melhado's appointment comes as a result of Richard Byles's appointment to the post of Governor of the Bank of Jamaica. Byles' subsequent resignation as director and chairman of Sagicor Group Jamaica, its subsidiaries and all board committees, took effect on June 30.

The release noted that Melhado in the meantime will be appointed director and chairman of Sagicor Life Jamaica Limited and Sagicor Life of the Cayman Islands, subject to regulatory approvals, and will also continue as a director of Sagicor Bank Jamaica Limited.

Meanwhile Bruce James, a noted businessman and president of the world renowned and award-winning MPV track club, has been appointed as the new chairman of Sagicor Bank Jamaica Ltd.

His appointment took effect on July 8, when he is expected to take up the duties of the post formerly held by former chairman Richard Byles, who will now take up his appointment as the next governor of the Bank of Jamaica.

James has been a director on Sagicor Bank's board since 2011 and has more than 16 years' experience in the banking sector. He is a former executive with Citibank, NA Jamaica branch, where he served as vice-president in charge of the Corporate Bank, vice-president in charge of relationship management, and vice-president in charge of risk management. He is also the former managing director of Citi Finance Limited and has expertise in risk management and analysis, marketing of credit products, relationship management and leadership.

James holds an MBA from Florida State University and also currently serves on the board of Sagicor Investments Jamaica Limited.

— Kellaray Miles