New JSE boss incoming

The Jamaica Stock Exchange is getting a new boss.  And that’s just one of the changes to come.

So the JSE is on the hunt for a new Managing Director, as Marlene Street Forrest is set to retire in a couple of months. 

Dr Street Forrest has been at the JSE for over 20 years. During her time (but before she became MD) the JSE launched the Junior Market.  This has allowed dozens of small and medium-sized businesses to raise funds without debt.

Under her leadership, the JSE was ranked best performing stock exchange in 2015 and 2018. They introduced direct market access to Canada, extended trading hours and reduced settlement time to one day. You can watch my previous video to learn more about that.

Not to mention, she’s also piloted the stock exchange through the COVID-19 pandemic. We all know the stock market has taken a hit; high interest rates, SSL etc. But all things considered, it’s held up relatively well.  

If you’ve been watching my channel for a while, then you’ve seen Dr Street Forrest on Taking Stock several times. And she’s been just as ready to talk when things are bad or when they are good.  I’m sure that transparency goes a long way for investors.

There’s no official word yet on who may be replacing her, but outgoing chairman Julian Mair said it’s a transformative year for JSE leadership, and they’re all taking it very seriously.

Mair is also getting ready to step down as Chairman in the coming months. He’s hit his five-term limit and is ineligible for reappointment.

Deputy Chairman Steven Whittingham has been promoted to Chairman. Former CEO of NCB Capital Markets, Steven Gooden will serve as his deputy.

Whoever becomes the new MD will have big shoes to fill and lots of work ahead, as the JSE looks to introduce short selling and weathers another difficult year.

And that’s the bottom line.