Thu | Feb 20, 2020

Lasco restructures financial services

Published:Wednesday | July 7, 2010 | 12:00 AM
Jacinth Hall-Tracey, managing director of Lasco Financial Services.

Lasco Group of Companies has placed its cambio business under the operations of Lasco Financial Service in a restructuring that the company insists does not amount to a merger of the two entities.

Lasco Cambio remains operational under that trading name, but with the change, Lasco Financial Service has now become Lasco Financial Services, a name change that was officially effected in the penultimate week of June.

The company has also added another foreign exchange outlet to its network on Burke Road in Spanish Town, bringing to four the number of cambio outlets run by the company.

Managing director of Lasco Financial Services and Lasco Remittance Services, Jacinth Hall-Tracey, said the change was not a merger but a technical adjustment done through the Registrar of Companies in recognition of the company's new business model of one entity offering a range of services.

Lasco Cambio, said Hall-Tracey, will still be used as a trade name.

Lasco Financial Services' offerings cover bill payment, international courier and foreign exchange services. The company also provides wire transfers to international banks as well as cheques and drafts for hard currencies.

Lasco Remittance remains a separate entity and an agent of the international money transfer company, MoneyGram International.

That service is offered under the trading name Lasco MoneyGram.

Sub-agents for this company have expanded from 56 to 60 within the last year.

Lasco Remittance is also an agent for Capital and Credit Remittance Limited with the offering of Money Express, a money transfer service from the United States, Canada, Antigua, Trinidad, United Kingdom, The Bahamas, Aruba, Curaçao and the Cayman Islands.