THE Cabinet has appointed Patrick Hylton, group managing director of the National Commercial Bank (NCB) Limited, as the new chairman of Harmonization Limited.

Hamonization Limited is the government-owned company spearheading the Harmony Cove tourism development project in Trelawny.

Hylton, who played a leading role in the rehabilitation of the Jamaican financial sector during the mid-1990s, as managing director of FINSAC, has been managing director of NCB since 2004.

Information Minister Donald Buchanan said the former chairman of Harmonization, Richard Byles, resigned because his private sector responsibilities would not allow him to continue to preside over the project. However, Byles was in charge up to the point of the identification of a joint-venture partner for the development in the Tavistock Group.

The 2,400-acre beachfront property, Harmony Cove, will be developed to house three large hotels, another three smaller, more intimate hotels, villas, 200 upscale residences, a private airport, a marina and two championship golf courses.

Tavistock is a private investment company with diverse holdings in commercial and residential real estate, financial services, as well as oil and gas investments.