Sat | Jan 20, 2018

Beris Grey moves on from FirstCaribbean, again

Published:Sunday | February 5, 2017 | 12:00 AMSteven Jackson

Nigel Holness, managing director at CIBC FirstCaribbean International Bank Jamaica, confirmed the departure of deal-maker Berisford Grey, who headed the corporate and investment banking division.

"It is great that our younger staff can see opportunity and go after it. Hopefully, we can do business with them when the time comes," said Holness on Friday.

Grey, who was managing director of the investment banking unit, left the bank in January. The internal team will assume his responsibilities.

"We have a deep pool of talented individuals to ensure that there is no loss of service. Beris would have been instrumental in grooming the next tier so that there is no operational gap," said Holness. "We are in the process of ensuring that his role would be covered with the resources that currently exist."

Grey first joined CIBC FirstCaribbean in 2004, left after several years to work with Scotia Investments Jamaica, and returned in August 2013.

He was instrumental in the building of FirstCaribbean's regional capital markets business, with services inclusive of private placements of bonds, acquisition financing, project financing, syndicated loans, subordinated notes, mezzanine loans, and international bond placements.

Grey said in a press release that he was currently exploring partnerships with financial experts.

"With so many Caribbean businesses looking to expand, it is imperative for bankers to become more innovative in offering debt and equity financing solutions that meet the increased sophistication of clients' needs," he said.

He declined to provide more details, saying an announcement was pending.