JAMAICA MONEY Market Brokers Limited reported a $552.2 million net profit for the financial year ended February 28, 2002, improving on the previous year's figure by 66.4 per cent.
Keith Duncan, deputy managing director attributed their success to having "a balanced, goal-oriented and aggressive management team which is deeply committed to the culture of love and respect for their fellow team members and clients." The management team comprises Donna Duncan-Scott managing director, deputy managing director, - Keith Duncan, Duhaney Smith - financial controller, Allison Wynter - risk manager, information systems manager- Sheldon Powe and Michael Lumsden- marketing manager.
While many firms operate in an environment where management is at the top of the command chain with its subordinates giving support, JMMB operates as an inverted pyramid with the management team on the bottom, the staff in the middle and the clients on top. "We believe that the clients are why we are in business," said marketing manager Michael Lumsden, "and that the management team must support the staff who serve our clients. Every team member's contribution is critical to success of the team and our company".
Several organisations have recently recognised the JMMB exceptional style of leadership including the Business Observer which honoured Mrs. Duncan-Scott with their prestigious Business Leader of the Year Award for 2001. The Jamaica Employers Federation also recognised her for Leadership in Innovative Workplace Practices.
The Jamaica Chamber of Commerce acknowledged the company as being leaders in the Jamaican business arena by presenting them with the Entrepreneurial Award for 2001, following on last year's award of the JCC's Best of the Chamber Award for 2000. The company has been in operation for the past nine years and has been profitable every year. They now serve over 60,000 clients who invest just over $40 billion from seven locations islandwide.
In August 2000 in a joint venture with Trinidadian Financial giants Clico Investments, JMMB formed Caribbean Money Market Brokers Ltd in Trinidad, seeking to replicate its success in Jamaica. Its newest move saw the company making forays into the stock market with the opening of its newest subsidiary JMMB Securities Ltd.
