Lawrence Duprey, chairman of the CL Financial Group, yesterday announced
that Robert Mayers will be retiring as managing director of the
subsidiary company, Caribbean Money Market Brokers (CMMB).
Mayers will retire on February 28, 2009, but went on pre-retirement
leave yesterday after eight years at CMMB.
Mayers retirement comes just under two months after CL Financial
assumed full ownership of CMMB, buying the 45 per cent shareholding
held by Kingston-based Jamaica Money Market Brokers Ltd for US$41.37
Mayers had said back in May 2005 that hed planned to retire
by the end of that year to teach free of charge at his old school,
Queens Royal College.
think I should depart and go and chill out a bit, Mayers said
at the time. I have a plan to go back to my old schoolQueens
Royal Collegeand teach.
That is what I started off doing, teaching maths.
Shortly after the mid-October purchase, Mayers said nothing had
changed as CL Financial always had management control of CMMB.
In issuing a statement yesterday, Duprey also announced that Ram
Ramesh had been recalled as managing director of CMMB with immediate
Ramesh will also hold the substantial position as chief financial
advisor at CL Financial and assist in reorganising the groups
Mayers graduated in 1975 from the Mona campus of the University
of the West Indies with a BA in mathematics and economics. He taught
in Jamaica and in T&T before becoming a stockbroker in 1980.
Ramesh was managing director and chief executive officer of CMMB
since its 2000 inception until 2007. Ramesh holds a Masters in business
administration (MBA) and is a certified financial accountant who
has worked with Citicorp and PricewaterhouseCoopers.
Mayers departure from the CL Financial Group comes four months
after Anthony Fifi, 66, retired as chief executive officer of the
Home Construction Ltd Group (HCL).
Fifis job was jointly assumed by Richard le Blanc and Hayden
Ameerali, for whom a major project was to complete CL Financials
One Woodbrook Place, which is overdue and overbudget.
On March 31, Andre Monteil retired as group financial director at
CL Financial. Monteil was replaced by Michael Carballo.