Oct 2008 Financial News

Sandra Shirley to leave First Global

Oct 02, 2008

First Global Financial Services (FGFS) president Sandra Shirley will resign at the end of October, after four and a half years at the helm of the institution, the company announced yesterday.

First Global marketing manager Kerry-Ann Betton Stimpson told the Business Observer that Shirley is resigning to pursue other career interests, but said that the veteran banker has not disclosed specifically what those career interests are.

"She is resigning for personal reasons to pursue new endeavours," said Betton-Stimpson. "I think she is keeping that very close to her chest because things can get quite sensitive."

Betton-Stimpson took the opportunity to dismiss rumours that Shirley may be a casualty of the US financial crisis, and added that First Global has absolutely no exposure to the fall-out in the North American market that has seen several financial institutions fold in recent weeks.

"This is a straight up coincidence of circumstances," said Betton-Stimpson. "What is happening overseas is completely coincidental with Sandra's resignation.

"There is absolutely no exposure whatsoever....the First Global group of companies are owned by GraceKennedy," she continued. "Grace, as a publicly listed company, was asked by the regulators, the Jamaica Stock Exchange, about its level of exposure and we have complied with that request and have communicated with them that there is no exposure at all."

In February 2004, Shirley, along with First Global Bank president Wayne Wray, was appointed by Grace to head up the two financial institutions that arised from the merger of Grace's First Global commercial bank and its George & Branday merchant bank - where Wray had served as president.

Shirley, prior to her appointment with First Global, was for years managing director of Sigma, but left to join National Commercial Bank (NCB) shortly after Sigma and Manufacturers Merchant Bank merged. In June 2003 she took up a position as Allister McIntyre research fellow at the Mona School of Business, UWI.


Source:
Julian Richardson
Jamaica Observer
Wednesday October 1, 2008

http://www.jamaicaobserver.com/magazines/Business/html/20081001T000000-0500_140809_OBS_SANDRA_SHIRLEY_TO_LEAVE_FIRST_GLOBAL_.asp