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More brokers, analysts switch houses - Investment firms rebuilding teams
published: Friday | January 11, 2008
Susan Gordon, Business Reporter
Left: Justin Nam departs First Global for Stocks and Securities Limited. Right: Vernon James, leaves Dehring Bunting & Golding for NCB Capital Markets Limited. - Contributed photos
A number of shifts are occurring across brokerages, the Financial Gleaner has learned, as firms position at the top of the year to compete for business among a more alert investor community.
But some local firms have been expanding further, beyond Jamaica's borders, and are building out their teams to position for market share, while others are merely filling vacancies after a spate of resignations.
Vernon James, the head of the stockbrokerage unit at investment bank Dehring Bunting and Golding (DB&G) Limited, leaves to join NCB Capital Limited as assistant vice-president, Treasury.
Lost several managers
NCB Capital, last year, lost several managers - including Debra Lopez who is now at FirstCaribbean Jamaica - forcing managing director Chris Williams to hunt new talent and rebuild his team.
James would, essentially, be reuniting with his new boss, who was himself a top executive at DB&G up to his recruitment by National Commercial Bank to run its wealth arm four years ago.
James, who has been with DB&G since 2001, said he would leave today, but it's not clear when he will take up his new job.
"I'm happy for him, he's going into a good job," said DB&G chief executive Anya Schnoor.
"Change sometimes brings other opportunities and allows us to go in different directions."
Schnoor said she had not yet identified a replacement, but is placing no limits on the recruitment.
"There are great people here and others who will join," she said.
Other sector movements
Other sector movements, said sources in the know, include Justin Nam, who has quit his job as assistant vice-president at First Global to work with the Croskerys at Stocks and Securities Limited; Kevin Donaldson, a manager at Pan Caribbean is moving to First Global as AVP.
Sherene Todd, investment services manager at Pan Caribbean, heads to DB&G as AVP, Sales; while Brian Frazer, who worked with Scotia Investments up to its merger with DB&G last year, has been promoted to AVP of Asset Management at DB&G.
Todd will fill a position that has been vacant for some time, said Schnoor, signalling that there was room for more recruits.
"We are always looking for good people," she said.
Mark Croskery also confirmed Nam's shift to his company.
"Justin will be joining us as Vice-President - Equities & Trading by January 21, said Croskery, the president and chief executive officer at Stocks & Securities Limited.
susan.gordon@gleanerjm.com
published: Friday | January 11, 2008
Susan Gordon, Business Reporter
Left: Justin Nam departs First Global for Stocks and Securities Limited. Right: Vernon James, leaves Dehring Bunting & Golding for NCB Capital Markets Limited. - Contributed photos
A number of shifts are occurring across brokerages, the Financial Gleaner has learned, as firms position at the top of the year to compete for business among a more alert investor community.
But some local firms have been expanding further, beyond Jamaica's borders, and are building out their teams to position for market share, while others are merely filling vacancies after a spate of resignations.
Vernon James, the head of the stockbrokerage unit at investment bank Dehring Bunting and Golding (DB&G) Limited, leaves to join NCB Capital Limited as assistant vice-president, Treasury.
Lost several managers
NCB Capital, last year, lost several managers - including Debra Lopez who is now at FirstCaribbean Jamaica - forcing managing director Chris Williams to hunt new talent and rebuild his team.
James would, essentially, be reuniting with his new boss, who was himself a top executive at DB&G up to his recruitment by National Commercial Bank to run its wealth arm four years ago.
James, who has been with DB&G since 2001, said he would leave today, but it's not clear when he will take up his new job.
"I'm happy for him, he's going into a good job," said DB&G chief executive Anya Schnoor.
"Change sometimes brings other opportunities and allows us to go in different directions."
Schnoor said she had not yet identified a replacement, but is placing no limits on the recruitment.
"There are great people here and others who will join," she said.
Other sector movements
Other sector movements, said sources in the know, include Justin Nam, who has quit his job as assistant vice-president at First Global to work with the Croskerys at Stocks and Securities Limited; Kevin Donaldson, a manager at Pan Caribbean is moving to First Global as AVP.
Sherene Todd, investment services manager at Pan Caribbean, heads to DB&G as AVP, Sales; while Brian Frazer, who worked with Scotia Investments up to its merger with DB&G last year, has been promoted to AVP of Asset Management at DB&G.
Todd will fill a position that has been vacant for some time, said Schnoor, signalling that there was room for more recruits.
"We are always looking for good people," she said.
Mark Croskery also confirmed Nam's shift to his company.
"Justin will be joining us as Vice-President - Equities & Trading by January 21, said Croskery, the president and chief executive officer at Stocks & Securities Limited.
susan.gordon@gleanerjm.com
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