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JMMB acquires AIC Securities in Trinidad

Published:Thursday | May 1, 2014 | 3:54 PM

JMMB has concluded the transaction to acquire full ownership of AIC Securities Limited in Trinidad & Tobago.

Having received regulatory approval to proceed with the transaction in March 2014, the JMMB Group, through its newly-opened subsidiary JMMB Investments (Trinidad & Tobago) Limited, will be using its acquisition of AIC Securities to further deepen the Group’s foray into Trinidad & Tobago, the company said in a release today.

“This supports an even more diversified bundle of financial solutions that serves to meet the financial goals and needs of its clients, at every stage of their life,” the release said.

Headquartered in Kingston, Jamaica, JMMB has operations in the Dominican Republic and Trinidad & Tobago.

Its lines of business span securities dealing, stock brokering, foreign exchange trading, insurance brokering, banking and remittances.

It is listed on the Trinidad & Tobago, Barbados and Jamaica Stock Exchanges. JMMB also owns Intercommercial Bank and Intercommercial Trust & Merchant Bank, both headquartered in Chaguanas, Trinidad.

AIC Securities Limited, a former member of the AIC Financial Group, is headquartered and has two locations in Trinidad. It is a securities dealer that offers portfolio management and investment advisory services. As a stock broker, it is a member of the Trinidad & Tobago Stock Exchange.