Clarke OLIVER CLARKE has been elected chairman of the board of directors of Jamaica National Building Society (JNBS), effective September 18, 2002.
This follows the resignation of Keith Francis who has served as chairman of the Society for the past five years. Mr. Francis tendered his resignation for health related reasons. He will remain on the board as a director.
Mr. Clarke, who is also chairman and managing director of the Gleaner Company Limited, previously served the Society most recently as deputy chairman. George Magnus, attorney-at-law and chairman of N.E.M. Insurance Company (Jamaica) Ltd., a subsidiary of JNBS, has been elected deputy chairman.
Mr. Francis served as a director of the St. Thomas Mutual Building Society prior to its merger with JNBS in 1976. On the merger, he was appointed to the board of JNBS and elected deputy chairman. He was also a council member of the former Building Societies Association of Jamaica (BSAJ).
Mr. Francis was elected chairman of the JNBS in 1997 and during the period of his stewardship, the Society's assets grew steadily, doubling from $14.4 billion in 1998 to $28.7 billion in 2002.
It was a period of significant growth and expansion for the Society locally and overseas, which saw the opening of new branches in Jamaica and representative offices in the United Kingdom and the United States of America. `
The period saw the merger with the Jamaica Savings & Loan Building Society and the addition of three subsidiaries - N.E.M. Insurance Company (Jamaica) Ltd., JN Micro Credit Co. Ltd. and the National Building Society of Cayman.
He also served as chairman of the JNBS regional board for St. Thomas and sits on the boards of several JNBS subsidiaries, as well as JNBS board sub-committees.
He is a former director of the National Commercial Bank Jamaica Limited and Edward Gayle & Company Limited.
