Diversified Finance Company Set To Increase Market Share | News


Jamaican-based Federal Capital Investment & Finance Limited has decided to strengthen and significantly increase its market share in the diversified finance market with key and strategic appointments aimed at injecting new vision and assured experience into its management structure. .

The appointments are expected to drive VISION 23’s strategic objectives of growing its expanding portfolio and profits from its insurance premium financing business.

Douglas Folkes, who has been appointed chairman of the entity, brings decades of banking experience and excellent credentials to the Federal Capital as CEO / Managing Director of Mutual Security Bank Limited.

Folkes has served at the senior levels of the National Commercial Bank and several other renowned Jamaican companies.

Levar Smith was also elevated to the position of Vice Chairman of the Board effective April 29, 2021.

Smith, who was also appointed Chairman of the Audit Committee of the Board of Directors, has served as a group director and a member of the board of directors of subsidiaries Marathon Insurance Brokers Limited and Federal Capital Investments & Finance Limited since 2018.

“Smith’s appointment heralds the rise of a new generation of talented leaders to the executive suite and guides the board’s VISION 23 strategic goal of generating 75% of the company’s revenue from its business. platform, “the company said in a statement.

Smith’s journey with Marathon Group began in 2007 and he has held a variety of positions including Accountant, COO, Managing Director and his current role as Managing Director – Marathon Insurance Brokers Limited.

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