The Bank of Jamaica (BOJ) has appointed Robert Stennett as the new deputy governor with portfolio responsibility for Research and Economic Programming and Financial Stability.

In keeping with a recommendation from the bank’s board of directors and Minister of Finance and the Public Service Dr Nigel Clarke, the appointment is to run for a five- year period effective yesterday.

Previous to this appointment Stennett held the position of division chief, Research and Economic Programming Division at the central bank. In his more than 24 years of service to the BOJ he also held several other senior positions, including senior financial analyst, chief economist and advisor.

Stennett comes to the post highly qualified and experienced. He holds a postgraduate degree in economics from The University of the West Indies.

“He has a wealth of experience in central banking, particularly the development and implementation of monetary policy,” a release from the BOJ stated.

Stennett’s appointment follows the departure of Dr Wayne Robinson, who previously held the position before he was appointed senior deputy governor in July. Robinson’s appointment to the top executive position also took effect yesterday after the contract for the outgoing Senior Deputy Governor John Robinson ended. The outgoing Robinson had previously indicated his intention to step down from the position when his contract ended on September 30.