Capital & Credit states support for Jamaica Debt Exchange Programme in meeting with new Overseas Alliance Partner
The three top executives of the Capital & Credit Financial Group Ltd. (CCFG), Chairman & Group President, Mr. Ryland T. Campbell, and Deputy Group Presidents, Andrew Cocking and Curtis Martin met this week with the Vice-Chairman of Blaylock Robert Van LLC (BRV), Mr. Carlton Martin, to finalise arrangements for the strategic re-alignment of CCFG’s Florida-based company, which will be operated in partnership with Blaylock Robert Van LLC (BRV), a premier minority-owned and privately-held U.S.-based registered investment bank and broker-dealer in the coming weeks.
The BRV Vice-Chairman, Carlton Martin, was in Jamaica for a brief visit to discuss the upcoming launch of the Florida-based business, during which time, the Capital & Credit Executives used the opportunity to update him on the Jamaican Government’s Debt Management Initiative launched on Monday this week and underscore CCFG’s recognition of its importance to the success of Jamaica’s economic recovery programme.
CCFG Group Chairman, Ryland Campbell, noted that “these are extra-ordinary times facing the country, which call for extra-ordinary measures, which though they may require some sacrifice and cause some discomfort, must benefit from total participation from all stake-holders.” He notes further that “a Debt-Exchange Programme, such as Jamaica has undertaken, is not a new concept.” He pointed to the similar initiative and recent experience of the Government of the Republic of Seychelles, which announced last Friday, January 16, that that country’s Debt Exchange offer launched on 7 December last year received the overwhelming support of approximately 89% participation by its creditors upon the expiry date on 14 January this year.
Mr. Campbell pointed out that “such action calls for collective responsibility, despite any possible pain in the short term, for the national good, as has been exemplified by the people of the Seychelles.” “Jamaica,” he notes, “has no choice and as such Capital & Credit is committed to playing its part in rolling out the programme.”
Deputy Group President in charge of Banking Investment, Curtis Martin, told the BRV top executive that “Capital & Credit Merchant Bank and its subsidiary, Capital & Credit Securities Ltd., had put all the necessary customer communication and process in place, so that there was an immediate roll-out at the start of the JDX on Monday morning.”
For his part the Blaylock Robert Van LLC, Vice-Chairman Martin, expressed his understanding of situation and noted that “while we at BRV haven’t seen the details of the Programme, ultimately, the JDX is something that has to be done.”
CCFG and BRV last week announced that both companies had signed a letter of intent to form a strategic alliance by way of a Joint Venture and Equity Participation by Capital & Credit in BRV which will see the new operation launched before the end of the First Quarter. The alliance is expected to result in mutual benefits accruing to both entities and will allow each to leverage its resources and expand the financial services and investment products offered to their respective clients with a more comprehensive global perspective.
The alliance follows on other aspects of Capital & Credit’s Caribvision2010 strategy, such as the launch of its Core Banking Technological Platform in April 2007 and the corporate re-structuring of the Group in 2008, resulting in the de-listing of its Merchant Bank’s Ordinary Shares and the listing of CCFG’s shares on the Jamaica and Trinidad & Tobago Stock Exchanges.
CCFG Deputy Group President, Andrew Cocking (L) makes a point in discussion during visit of Vice-Chairman of Blaylock Robert Van LLC (BRV), Mr. Carlton Martin,(2nd left) to the Capital & Credit Offices in Jamaica. Looking on are Group Chairman, Ryland Campbell, (2nd right) and Deputy- Group President, Curtis Martin (R). The CCFG Executives used the opportunity to brief BRV’s Vice-Chairman of Capital & Credit’s support for Jamaica Debt Exchange Programme. CCFG and BRV last week announced that both companies had signed a letter of intent to form a strategic alliance by way of a Joint Venture and Equity Participation by Capital & Credit in BRV before the end of the first Quarter 2010.
CCFG Deputy Group President, Curtis Martin (R) makes a point in during visit of Vice-Chairman of Blaylock Robert Van LLC (BRV), Mr. Carlton Martin,(left) to the Capital & Credit Offices in Jamaica. Looking on are Group Chairman, Ryland T. Campbell, (2nd left) and Deputy-Group President, Andrew Cocking (2nd right). The CCFG Executives used the opportunity to brief BRV’s Vice-Chairman of Capital & Credit’s support for Jamaica Debt Exchange Programme. CCFG and BRV last week announced that both companies had signed a letter of intent to form a strategic alliance by way of a Joint Venture and Equity Participation by Capital & Credit in BRV before the end of the first Quarter 2010.
CCFG Group Chairman, Ryland Campbell, (2nd right) briefs Vice-Chairman of Blaylock Robert Van LLC (BRV), Mr. Carlton Martin,(2nd left) on Capital & Credit’s support for Jamaica Debt Exchange Programme. Looking on are Deputy Group Presidents, Andrew Cocking (L) and Curtis Martin (r). CCFG and BRV last week announced that both companies had signed a letter of intent to form a strategic alliance by way of a Joint Venture and Equity Participation by Capital & Credit in BRV before the end of the first Quarter 2010.
CCFG Group Chairman, Ryland Campbell, (2nd left) and Vice-Chairman of Blaylock Robert Van LLC (BRV), Mr. Carlton Martin,(left) discuss Capital & Credit’s support for Jamaica Debt Exchange Programme. Looking on are Deputy Group Presidents, Andrew Cocking (2nd right) and Curtis Martin (R). CCFG and BRV last week announced that both companies had signed a letter of intent to form a strategic alliance by way of a Joint Venture and Equity Participation by Capital & Credit in BRV before the end of the first Quarter 2010.
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