Special Advisory: GraceKennedy Limited (GK)

September 29, 2020

GraceKennedy Limited (GK) has advised of several senior management changes within the Group effective October 1, 2020.

Andrew Leo-Rhynie, the current Managing Director of GK Capital Management (GKCM), will join GK’s Executive Office as the Head of the Group’s new Mergers and Acquisitions Unit. Mergers and Acquisitions has been identified as one of GK’s key strategic drivers towards sustainable growth and innovation. As Head of Mergers and Acquisitions, Mr Leo-Rhynie will report directly to the Group CEO and will lead a team focused on local and international acquisition targets. Douglas Robinson, the current VP Investment Banking of GKCM, will be appointed Acting Managing Director of GKCM.

Also, within the Executive Office, Lee-Anne Bruce, GK’s current Group Chief Risk & Compliance Officer, will be appointed Chief Audit Executive (CAE) of the Group. In her new capacity, Mrs. Bruce will report administratively to the Group CEO and functionally to the Chair of the Group Audit Committee. Judith Chung Gordon will re-join GK, taking over Mrs. Bruce’s role as Group Chief Risk & Compliance Officer, and will also assume the role of Senior Legal Counsel, providing legal support to GK’s new Mergers and Acquisitions Unit. Mrs. Chung Gordon will report to Gail Moss-Solomon, GK’s General Counsel & Chief Corporate Secretary. Gerron Thomas, who currently holds the position of Business Development Manager, will be promoted to Group Risk Manager, reporting to Mrs. Chung Gordon in his new role. GK’s Chief Information Officer (CIO), Diedre Cousins will now report to the Group Chief Financial Officer, Andrew Messado. Stacie Ann Wright, the current Chief Operating Officer (COO) of First Global Bank (FGB), will be appointed Chief Financial Officer of the GraceKennedy Financial Group (GKFG). Radcliffe Daley, GK’s current CAE, and who previously served as VP, Retail Banking & Marketing and VP, Operations at FGB, will return to FGB as their COO. As previously reported, Steven Whittingham will lead the digital transformation strategy for the Group while continuing to serve as GKFG’s COO. Margaret Campbell, Country Manager of GK Money Services (GKMS) Jamaica, will be promoted to Chief Operating Officer for the GKMS Group. In this new role, Ms. Campbell will assume oversight for GKMS Cayman, Bahamas, BVI, TCI and the Eastern Caribbean markets, in addition to Jamaica.

Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.

Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.