KINGSTON, Jamaica, CMC – The Jamaican-based institution JMMB International Limited has gained a securities dealer license in Barbados, markings JMMB Group Limited’s (JMMBGL) latest thrust in diversifying its operations and achieving a more significant presence in the Caribbean.
JMMB International will initially offer a concise suite of investment solutions to institutions, corporations, and high-net-worth individuals.
Some products that will be offered include JMMB International Access, an online international brokerage service, service, access to regional equity and fixed-income markets, and various capital markets solutions.
The business will be led by Tricia Kissoon, chief executive officer (CEO) of JMMB Investments (Trinidad and Tobago) Limited, and Michael Jordan, the Barbados-based head of business development and executive director.
“We’re continuing our expansion into new territories, and we have announced that we’re now licensed to operate as a securities company/dealer in Barbados through JMMB International Limited. As of October 12, we’re up and running in Barbados, and we’re pleased about this because we’re now able to consolidate across the region. We’re happy to be in the Bajan market and looking forward to growth in that market and acquiring some market share in Barbados,” said JMMB Group CEO Keith Duncan at Thursday’s investor briefing.
JMMB International directly owns the 33,213,764 shares of Sagicor Financial Company Limited (SFC) or a 23.44 percent stake, and holds other long-term portfolio investments as part of JMMBGL’s investment management arm. JMMBGL injected $5.39 billion into JMMB International during the 2023 financial year.
JMMBGL is a reporting issuer to the Barbados Financial Services Commission despite delisting from the Barbados Stock Exchange in October 2019.
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