Williams rings bell on Kingston Properties

Career Ladder

Tuesday, October 13, 2015

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Fayval Williams has announced that she will be stepping down from her position as executive director of Kingston Properties Limited as of October 31, to concentrate on her political career. In her current role, Williams is responsible for the company's affairs and the execution of its operating objectives.




Williams, who will be running for the Opposition Jamaica Labour Party in the St Andrew Eastern seat, conceptualised the real estate investment company back in 2007 with her husand Leo Williams and Stuart White. She has been in her current role since 2008.




Prior to Kingston Properties, Williams served as chief investment officer of JMMB Limited from 2005 to 2007 with investment responsibilities spanning the trading department, investment research, and pensions. From 2002 to 2004 Williams consulted with JMMB in the areas of market risk management and investment research, where she led that company's efforts to develop investment research capabilities and served as the head of the valuation and pricing team for JMMB's public offering. In 2004 she consulted with the Financial Services Commission (FSC) in the area of research and policy.




Prior to her return to Jamaica, Williams was senior vice-president at Putnam Investments in Boston, Massachusettes -- a top-10 global mutual fund manager. Her investment experience also includes approximately five years as vice-president at Wellington Management Company, also in Boston, and work as a fixed income analyst at Northwestern Mutual Life Insurance Company in Milwaukee, Wisconsin where she shared portfolio management responsibilities for a US$3 billion portfolio.




Other roles include work experience at the Equitable Real Estate Investment Management in Chicago, Illinois and as an information systems analyst for Morgan Stanley.




"I am proud of my stewardship of the company. Since Kingston Properties advanced the concept of real estate investing on the Jamaica Stock Exchange (JSE), we have seen other companies follow," Williams said in a news release.




Williams is a Chartered Financial Analyst (CFA)and holds an MBA from the top-ranked Wharton Business School at The University of Pennsylvania with a concentration in Finance. She also holds a BA (cum laude) from the ivy-league Harvard University in Cambridge, Massachusetts.




Richards opens door to new CEO role


Kevin Richards, vice-president of sales and marketing at Sterling Asset Management, has accepted the position of CEO for Kingston Properties now that Fayal Williams is leaving. His appointment becomes effective November 2, 2015.




A frequent Jamaica Observer columnist, Richards has been with Sterling since 2013 overseeing the company's sales and marketing efforts as well as new product development. Prior to that he was general manager for Re-Bath Jamaica, a bathroom remodelling company. Previous experiemce include working in the financial industry in areas such as of equity and fixed-income trading, research, client sales, portfolio management and product development.




He was vice-president of investments for First Global Financial Services from 2005 to 2009, senior vice-president of asset management for Mayberry Investments from 2004 to 2005, and senior director of investments at the National Insurance Fund from 2000 to 2004. He started his investment career in 1995 as an investment analyst and trader for Edward Gayle and Co where he worked for two years.




Richards holds a BA major in Spanish and Economics minor, from the University of the West Indies, Mona, an MA in Economics from Dalhousie University in Canada, and a certificate from the Canadian Securities Institute.






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