New CEO of JMMB Bank T&T, Shawn Moses.

Shawn Moses has been named the new chief executive officer of JMMB Bank T&T.

JMMB’s Group Banking Lead Jerome Smalling made the announcement on Monday as the company held its virtual Investor Briefing.

“I am pleased to announce that we have landed on a new CEO for JMMB Bank T&T Ltd. His name is Mr Shawn Moses. We were able to successfully lure Shawn away from a competitor which is RBL. Shawn would have had the experience as well with Scotiabank,” Smalling said.

“He comes to us from leading the RBL acquisition of Scotiabank in the Eastern Caribbean. We are pretty excited about Shawn coming on board to join a number of other key individuals,” Smalling said.

At the Investor Briefing, the JMMB Group reported a net profit of J$8.82 billion ($381 million) for the nine-month period ending December 31, 2021.

“This reflects a 119 per cent uptick in the Group’s earnings year-over-year. Additionally, JMMB Group posted operating revenue of J$21.98 billion ($946 million), up 33 per cent for the comparative period,” JMMB stated.

JMMB Group CEO Keith Duncan outlined that the company continues to reap success from its diversification strategy; deepening of its core business; and build out of its digital transformation, despite the protracted uncertainty and operational challenges resulting from the pandemic.

“As a result of our regional diversification strategy and continued partnership with our clients, we have seen continued growth in our performance across key markets, most noteworthy of which is the Dominican Republic, which contributed 32 per cent, or J$2.52 billion, of the group’s operating profit for the period; with Jamaica remaining the dominant market, contributing 57 per cent and a commendable performance in the T&T market, with 11 per cent contribution to profit.”

During the reporting period, the JMMB Group completed an upgrade to its fleet of automated teller machines (ATMs) in Jamaica, to provide clients with the added convenience and an improved client experience, allowing clients to have real-time updates on their accounts and immediate access to cash deposited.

As part of the its digital transformation imperative, the group stated that a similar project to upgrade the current fleet of ATMs to smart ATMs is underway in T&T.

“The group continues to integrate its infrastructure, processes and systems to leverage operational efficiency and standardise operations across the countries in which it operates,” it stated.