Perkins leaving Jamaica’s Sagicor Bank

Fresh on the heels of announced changes at the top of Jamaica’s second largest financial entity, Scotia Group, another major financial institution has announced changes at the top of its operations.
Sagicor Group Jamaica today advised that the Board of Directors announced the retirement of Donovan Perkins as President & Chief Executive Officer of the Bank effective September 30, after over 25 years of outstanding service to the Bank. The board advised that Philip Armstrong, the Deputy CEO will act as Chief Executive Officer of the Bank, effective October 1. Armstrong has been with group for several years, joining Pan Caribbean Merchant Bank before the merger with Royal Bank that was renamed Sagicor Bank when Sagicor Group acquired it from Royal Bank in 2014. Sagicor Bank has assets of $115 billion as of March this year or 9.4 percent of the total commercial banking system.
Earlier this week Scotia Group, announced the departure of Jackie Sharp as head of the group, to be be replaced by David Noel a long standing employee of the group. Scotia Group controls $329 billion or 26.7 percent of Jamaica’s banking assets at the end of March this year, data from the country’s central bank shows.

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