CAPITAL & Credit Financial Group (CCFG) on Monday announced several structural adjustments within its organisation aimed at improving “company performance” and “customer service delivery”.

Among the changes, the company announced via a release to the Jamaica Stock Exchange, Capital and Credit Merchant Bank’s (CCMB) Corporate Credit Unit will be shut down and replaced with a Corporate Banking Centre, which, according to the firm, will take on a broader role in servicing and funding the organisation and its corporate clients. The new segment is to be headed by Curtis Martin, president and CEO of CCMB, as a consequence of which, the position of Corporate Credit assistant vice-president, held by Lloyd Wint, is to be made redundant.

CCMB’s Retail Banking Division will also be expanded to include E-Channels and the Customer Contact Centre now that development work for the Debit Card and Automated Teller Machine service (ATM) is complete and the Centre is operational. This division will fall under the leadership of CCMB’s general manager, Moya Leiba-Barnes.

Senior vice-president Rosalie Deane, who formerly held the responsibility for Business Strategy & Development, will now have her role expanded to head a new Business Strategy, Process & Technology Division which was created, the firm said, to improve on efficiency and achieve greater productivity and synergies across the Group.

Also seeing her role expanded is senior

vice-president Michelle Wilson-Reynolds, who has responsibility for the overall strategic development and direction of the Capital & Credit market presence locally and overseas. Wilson-Reynolds, who heads the Capital & Credit’s Group Marketing & Corporate Affairs Division, will now have expanded responsibilities for Product Development, Market Research and Customer Experience.

The moves are the latest in a series of restructuring exercises which have been conducted by CCFG in response to the tightening of the local economy. Five senior managers of the company lost their jobs last year after their positions were made redundant.

During the third quarter ending September 30, 2009, CCFG posted net profit attributable to stockholders of $94.48 million, a 31 per cent increase above the comparative period in 2008. But despite the improved performance, CCFG acknowledged that its results continue to be impacted by increased Non-Interest Expense and fallouts in the Remittance and Broker Dealer business lines.