KINGSTON, Jamaica — Steven Gooden, Chief Executive Officer of NCB Capital Markets Limited (NCBCM), was re-elected president for a fourth year during the Annual General Meeting of the Jamaica Securities Dealers Association (JSDA) held recently.

Gooden will be supported by first vice president — Johann Heaven of PROVEN Wealth Limited; second vice president — Claudette Crooks of MoneyMasters Limited; and secretary — Ramon Small-Ferguson of Barita Investments Limited, who were all re-elected in their roles, along with newly elected Denise Marshall Miller of VM Wealth Management Limited, who will serve as treasurer.

In accepting his return to the association’s leadership position, Gooden acknowledged the vote of confidence in him and recognised the support of the association, and the officer core.

“I wish to convey my appreciation to the JSDA for their vote of confidence and continued trust in my abilities to lead this association. I would also like to specially thank the officer core, and JSDA committee members who worked assiduously in helping to navigate the industry through the pandemic, including the outgoing treasurer Colando Hutchinson (formerly of VM Wealth Management Limited), who was integral in achieving the financial goals of the association over the past year. The industry boasts a stronger position and has again proven its resilience,” Gooden said.

“2020 was a challenging year for the capital markets industry and Jamaica as a whole, as the COVID-19 pandemic hit our shores in March. The first couple weeks were spent collaborating with key partners, stakeholders and regulators to ensure there was ample liquidity in the market, prudential requirements were adhered to and there were no major disruptions to the function of the settlement systems in the event of a lock down. The pandemic, notwithstanding its negative impact, allowed for the advancement of areas such as liquidity windows, the high-quality liquid asset (HQLA) regime and the launch of the Private Market, which will further assist in the deepening of the capital markets,” he added.

“2021 will be an exciting year. It has been acknowledged that the capital markets must and will play an integral role in pulling Jamaica out of the adverse effects of the COVID-19 pandemic. The value proposition of our industry is clear as it provides more flexible financing solutions when compared to the traditional banking system. Natural borrowers of hard currency, such as hospitality and BPO sectors, were significantly impacted by COVID-19 and were unable to capitalise on solutions that the capital markets provide because of the currency limitations imposed on the industry. The association will continue to focus on advocacy in areas such as this and playing our role in advancing the nation’s economic agenda and market deepening initiatives,” he said.

The JSDA was established on September 11, 2002 and represents 15 securities dealers with offices throughout Jamaica and the Caribbean.