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Peter Melhado is new chairman of Sagicor Group Jamaica

Published:Monday | July 1, 2019 | 3:35 PM
Peter Melhado
Peter Melhado

Sagicor Group Jamaica has announced that at a special meeting of directors today July 1 Peter Melhado was appointed chairman of Sagicor Group Jamaica Limited, effective tomorrow July 2.

His selection is consequent upon the government’s appointment of Richard Byles to the post of Governor of the Bank of Jamaica, and his subsequent resignation as chairman and director of Sagicor Group Jamaica, its subsidiaries and all board committees, effective June 30.

Melhado will also be appointed director and chairman of Sagicor Life Jamaica Limited and Sagicor Life of the Cayman Islands, subject to regulatory approvals. He will continue as a director of Sagicor Bank Jamaica Limited but will no longer serve on the board of Sagicor Investments Jamaica Limited.

He has been a director with the Sagicor Group since 2004. He is President and CEO of ICD Group Holdings Limited, an investment holding company with interests in real estate development, general insurance, technology distribution, ecommerce, business process outsourcing and property management.

Prior to joining ICD, Melhado led the manufacturers group up until its merger with PanCaribbean, now Sagicor Bank Jamaica.

Melhado currently serves as chairman of the CGM Gallagher Group, West Indies Home Contractors, Social Commerce Inc (Puerto Rico), American International School of Kingston and Industrial Chemical Company.

His current directorships include British Caribbean Insurance Company, Couples Resorts, IWC (St Lucia), Advantage Communications, Intcomex and Red Stripe. He is a former vice president of the Private Sector Organisation of Jamaica.