Sabrina N. Gordon, Business Reporter

Left: Lissant Mitchell has worked with Pan Caribbean for seven years. Right: Garfield Sinclair, chief operating officer of Dehring, Bunting and Golding, departs the company at the end of October. - File

Lissant Mitchell, formerly of Pan Caribbean Financial Services, will be replacing Gary Sinclair at Dehring Bunting and Golding, Wednesday Business has confirmed.

Mitchell, whose title will be senior vice-president of treasury, will be given wide responsibility to oversee brokerage activities, trading and asset management.

DB&G, which merged with Scotia Jamaica Investment Management Limited in July, now has $58.6 billion of funds under management.

Mitchell, whose job at Pan Caribbean was vice-president in charge of trading, joins the company in a matter of weeks.

"He has a long career in the area, his post is the second most senior position and we are excited about him coming on-board," said Anya Schnoor, chief executive officer of DB&G and senior vice-president of Scotiabank Group Jamaica.

Central player

He has worked with Schnoor before, when she was vice-president at Pan Caribbean. She left that job to join Scotiabank and was a central player in the negotiations for DB&G.

Sinclair remains the chief operating officer (COO) at DB&G until the end of October.

He told Wednesday Business that he has no jobs lined up.

"I have no immediate plans, and my contract prevents me from going into the financial services industry until October 2009."

Sinclair, who was a principal in DB&G up to the company's majority 68 per cent acquisition in late 2006 by Scotiabank, was paid approximately $285 million for his stake.

Top three owners

Initially, the top three owners, Peter Bunting, Mark Golding and Sinclair were contracted to stay on at DB&G for two years to help manage the transition under a profit share arrangement, but the agreement was relaxed earlier this year after the Scotiabank group reorganised.

Bunting and Golding have already left. Both now have political postings, Bunting as a Manchester Member of Parliament, while Golding has been named senator by the opposition People's National Party.

Sinclair, who was president and COO of DB&G prior to the sale of the investment bank, has invested approximately 13 years in the organisation.

"Being at DB&G has been an incredible learning and shared experience for me," he told Wednesday Business.

"I have benefited from working with a set of committed and driven persons within the industry."

sabrina.gordon@gleanerjm.com