LALOR

Dennis Lalor, chairman of the Insurance Company of the West Indies and a former president of the Private Sector Organisation, has been selected for the Private Sector Hall of Fame, and is to be inducted on October 25.

"Mr. Lalor's contributionto Jamaica is unquestionable," said PSOJ president Christopher Zacca in a release announcing the selection.

Lalor was PSOJ president for two years, from 1990 to 1992.

"The high point of his tenure was his work which influenced the government to modify the Foreign Exchange Act which resulted in the liberalisation of the Jamaican economy," said Zacca.

The foreign exchange system was liberalised in 1991, with the switch from a fixed exchange rate regime and the trading of currency via a controlled auction system to a managed float under which rates were market determined.

The PSOJ has been reognising persons like Lalor since 1992, to acknowledge their role in influencing change to the benefit of corporate Jamaica and the country broadly.

In-depth knowledge

Such persons must have partipated in the private sector for 25 years or more, and, said the PSOJ, "should also have in-depth knowledge of and commitment to his or her field and be of sound character and unquestionable integrity."

Lalor joins a list of 14 others. Last year's recipient was William McConnell, the head of the Lascelles deMercado conglomerate.

business@gleanerjm.com