KINGSTON, Jamaica — Stocks and Securities Limited (SSL) is to launch DOLLA Financial Services Limited, a provider of cambio and remittance services, which will be located at the Barbican Business Centre in St Andrew.

“With the establishment of DOLLA, SSL will be able to have a clear-cut focus on the provision of investment advice and the management of investment portfolios for our clients,” President and CEO of SSL Mark Croskery said.

“Our shareholders will see increased benefits from SSL segmenting our cambio and remittance services to DOLLA, while increasing attention to our core services for clients. Our cambio and remittance services currently represent less than five per cent of our annual gross revenue, so this shift will have no financial impact on SSL.”

DOLLA Financial Services, a wholly owned subsidiary of SSL, has as its Board of Directors Paige Todd, John Andrews, Gordon Langford, Hugh Croskery, and Mark Croskery.

“In addition to our wish to streamline services provided by SSL, we also established DOLLA due to restrictions imposed by most commercial banks, which make it prohibitive to have a securities dealers and cambio licence in the same company name – which in our case was SSL. Our board thus found it imperative to make this move,” Mark Croskery said.