Hylton takes PSOJ helm as Jamaica confronts growth test post-Melissa
After years spent reshaping Jamaica’s banking sector, Patrick Hylton could have stayed comfortably out of the spotlight. Instead, at a moment when Hurricane Melissa has again exposed how vulnerable Jamaica’s growth path remains, he has stepped back into public leadership with a broader ambition in mind.
“This role gives me the opportunity to do what I’ve been doing, but on a grander scale,” Hylton said, explaining his decision to return to public leadership.
Hylton, who led the expansion of NCB Financial Group from a troubled local bank into a regional financial institution, was introduced on Thursday as the new president of the Private Sector Organisation of Jamaica (PSOJ). From his opening remarks, it was clear that he sees the role less as a ceremonial post and more as a platform to influence outcomes.
“The responsibility is really about representation. Representing what Jamaican businesses are saying, what they need in order to invest, what they need in order to grow, and what they need to create sustainable employment,” Hylton told journalists during the press briefing.
His presidency comes at a sensitive point for the economy. Jamaica has secured a measure of macroeconomic stability, but momentum has been uneven, a challenge now compounded by post-Melissa rebuilding pressures and renewed debate about policy flexibility.
Hylton drew a firm line on that issue.
“The private sector wants growth, but as responsible citizens and stakeholders, we want growth that aligns with and supports our hard-won economic stability. We can’t trade that for anything,” he said.
For Hylton, the constraint is not a lack of ideas, but a failure to convert discussion into delivery.
“Growth will not happen in press conferences like we are having here today. It requires productivity. It requires reduced bureaucracy. It requires increased facilitation. It requires discipline,” the newly inducted PSOJ president said.
That perspective is informed by experience. Over decades in banking, Hylton helped guide institutions through crisis, restructuring and regional expansion. He now frames Jamaica’s economic challenge in similar terms, as one of scale and the ability to turn disruption into opportunity.
“It is difficult to grow in an environment with a limited population. If our businesses are going to grow, we have to scale. We have to expand regionally and globally. The world must become our oyster,” he said.
In that context, Hylton argued that Jamaica must move beyond niche exports and more deliberately support firms capable of competing across borders, backed by policies that reward ambition and performance. Technology, he added, should be treated as core infrastructure if companies are to overcome size, cost and geographic constraints.
He also pointed to the value of more structured national coordination around growth, drawing on his experience as a founding member of the Economic Programme Oversight Committee (EPOC). While stopping short of a formal proposal, Hylton suggested that a similar framework focused on growth could bring greater continuity to reform efforts.
“I had the benefit of being one of the original members of EPOC when it was established many years ago, and I saw the benefit of it, as many of us have seen. If something works that well, I think we should utilise it more. I think there is an opportunity here to leverage that type of framework to improve things,” he said.
Crime also featured prominently in his remarks, framed as a direct economic constraint. The cost of security, protection and disruption, he said, diverts resources that could otherwise support investment and productivity.
On access to finance, Hylton acknowledged long-standing frustration among smaller businesses and signalled that this would be an early area of engagement under his presidency. Drawing on decades inside the banking system, he said the PSOJ would use his experience and relationships to press for more direct discussions with financial institutions around access to capital, particularly for smaller and growing firms.
“There has always been a debate about the role of banks and financial institutions as providers of capital for the development of our businesses, and there have been real challenges. Given my background and experience, I’ve seen it from both sides. I have good relationships in the financial sector, and I’m hoping to engage in a meaningful dialogue on behalf of our members, particularly the smaller ones, to see if we can bridge some of those gaps,” Hylton said
Asked why he chose to take on the role at this stage, Hylton further pointed to the satisfaction he draws from building people and institutions.
“I was able to take a business that was struggling and grow it…achieve many, many things. But one of the most satisfying things for me was the number of people I was able to help develop, and the roles they are now playing across Jamaica; you will see there names right across various businesses and sectors in Jamaica. I felt there was something more I could offer to society, and this role gives me the opportunity to do that on a wider scale,” he said.
Whether that ambition translates into measurable momentum will depend on execution. Hylton, however, appears comfortable being judged on results.
“There wer many times I would go to the team with aspiration, and sometimes I could sense the fear and the unease. But, you know, they say all men dream but not equally. There are those who dream at night, but the dreamers of day are dangerous men because they convert their dreams into reality,” he said.
“Well done,” Hylton said, quoting a favourite line, “is much better than well said.”