Effective tomorrow Peter Melhado, will be the new Chairman of Sagicor Group Jamaica Limited.
The announcement follows a special meeting of the groups’ directors today.
The company says Mr. Melhado will also be appointed Director and Chairman of Sagicor Life Jamaica Limited and Sagicor Life of the Cayman Islands Ltd, subject to regulatory approvals.
It says he’ll continue as a Director of Sagicor Bank Jamaica Limited but will no longer serve on the Board of Sagicor Investments Jamaica Limited.
Peter Melhado has been a Director with the Sagicor Group since 2004.
He’s President & CEO of ICD Group Holdings Limited, an investment holding company with interests in real estate development, general insurance, technology distribution, e-commerce, business process outsourcing and property management.
Before ICD, he led the Manufacturers Group up until its merger with Pan Caribbean, now Sagicor Bank Jamaica.
He’s also a former Vice President of the Private Sector Organization of Jamaica.
His appointment follows the appointment of Richard Byles as the next Governor of the Bank of Jamaica.
Mr. Byles resigned as Chairman and Director of Sagicor Group Jamaica, its subsidiaries and all Board Committees effective yesterday.