By Dennise Williams, Staff ReporterCAPITAL SOLUTIONS Limited, a relatively small player in the financial services industry, is headed by William Massias, the Financial Gleaner's spotlight personality for the week of September 26 to October 2, 2003. Wednesday Business caught up with this busy, married, father of two to find out more about Capital Solutions Limited and its position in the Jamaican financial landscape.
DW: Where did the principals in Capital Solutions get their experience in finance?
WM: The co-founders of Capital Solutions Limited (CSL) are my father, Aubrey Massias, Chairman, and myself as President and CEO. Our collective experience in the financial services industry is in excess of 40 years. My father, a senior manager at the Bank of Nova Scotia (BNS) for over 20 years, partnered with me to create a successful and dynamic organisation. My financial experience comes from being a senior manager at the Bank of America in the States. On my return to Jamaica, I have held various
banking positions at local financial institutions, which include Corporate Credit Manager and Assistant General Manager.
DW: In this harsh economic climate, why branch off to start a financial services company?
WM: We are driven to create wealth through niche marketing and not attempting to go after the broad market. Regardless of the economic climate corporations and individuals unrelentingly demand value, not just perceived value. Any institution that meets this need will survive and thrive.
DW: What is the state of the financial sector in your opinion?
WM: The financial services industry is in a state of constant change. To be sure, the sector is challenging but certainly not without opportunities. CSL's objective is to secure a competitive edge in this environment.
DW: What are some of the challenges that Capital Solu-tions faces?
WM: These are similar to other financial institutions. There are a number of major forces which are impacting the industry, including adhering to International Financial Reporting Standards, government regulations, evolving technology, the need for superior human resource capabilities as well as the need to develop the critical mass that is required to survive and thrive in an increasingly competitive marketplace.
DW: What is the profile of your typical client?
WM: CSL clients are primarily companies, business owners and high net worth individuals.
DW: What is the capital base of the firm?
WM: In order to support its continuing growth, CSL is currently in the process of expanding its capital base, which will exceed J$200 million after the completion of current negotiations.
DW: What are the types of financial products and services that you offer?
WM: Products and services currently include: asset management, commercial and personal finance, treasury, cambio, as well as financial advisory services. Karl Thompson, who spent over twelve years at Chemical Bank's (now JPMorgan Chase) Wall Street location in New York, spearheads our Financial Advisory Services.
DW: What does the future hold for Capital Solutions?
WM: CSL's strategy for the future is not to become "all things to all people" but to concentrate its resources primarily on cultivating a portfolio of businesses and high net worth clients. The company is positioning itself to compete effectively, not on size, but on the quality of its services and excellent customer service. It is therefore allocating its financial and human capital accordingly. The linchpins of this thrust are our asset management product and financial advisory services.
DW: What are some the pressing needs (besides more money) that your clients have and how do you address them or plan to address them?
WM: These clients want practical and highly targeted information, therefore we provide knowledge about business to their business.
