Caribbean Money Market Brokers Limited has lost its managing director, Ramsunderama Ramesh, whom the Financial Gleaner understands has shifted to Lawrence Duprey's CL Financial group.

Ramesh has been appointed by CL Financial, parent company of CMMB, as chief operating officer of the group.

Ramesh, who departed CMMB on March 18, has been replaced by a director of the company, Robert Mayers. Mayers was said to be away from his desk when the Financial Gleaner rang for comment Thursday.

CMMB is a Trinidad-based full-service brokerage house, part-owned by Jamaica Money Market Brokers (JMMB), which offers fixed income securities and investments in debt and equity.

Ramesh has been managing director for at least two years. According to JMMB's website, during his tenure, he grew the money market company's asset base from $5 million at start-up to $8 billion.

CL Financial is a diversified group with interests in real estate, finance, energy, and spirits.

Its subsidiary Angostura Limited recently bought majority stake in Lascelles deMercado under a two-tiered deal to be finalised in 2011.

susan.gordon@gleanerjm.com

TAKEN FROM THE FINANCIAL GLEANER, FRIDAY, MARCH 28, 2008