Business

Sagicor completes rebranding

Friday, October 19, 2012    

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Pan Caribbean Financial Services (PCFS) shareholder Orrett Staple (left) speaks with Donovan Perkins (centre), PCFS CEO, and Richard Byles, Sagicor Life Jamaica CEO at an extraordinary general meeting held at the Sagicor Head Office in New Kingston, yesterday. Shareholders voted in favour of changing the names of PCFS and PanCaribbeanBank to Sagicor Investments Jamaica Limited and Sagicor Bank Jamaica Limited respectively, effective December 12. The move is to strategically align both subsidiaries with its Barbadian parent company, Sagicor. "Over 90 per cent of Jamaicans recognise the Sagicor brand and we expect to benefit from being more closely associated with Sagicor, the third-largest financial company in Jamaica," said Perkins. The process will also include applications to the Registrar of Companies to legally change the names, along with the consent of the Minister of Finance and Planning to rename PanCaribbeanBank. The Pan Caribbean Group has a total of 1,627 shareholders and has a current market value of approximately $11 billion.

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