THE NEWEST member of the board of directors of Sterling Asset Management Ltd., Dave Morrison, FCA, FCCA, was officially recognised for his appointment at a directors' reception hosted by the company and joined by clients, colleagues family and other well-wishers.Mr. Morrison joins Peter Goldson, partner at Myers, Fletcher and Gordon, as the second independent director to be appointed to Sterling's board. There are now two independent directors sitting on the board.
The chief financial officer for Mavis Bank Central Factory Limited, Mr. Morrison will apply his acumen in financial planning and analysis to assisting Sterling's board in overseeing the integrity of accounting practices relating to financial statements and shareholder information, compliance, risk management and internal controls.
MORRISON'S EXPERTISE
Fellow of the Association of Chartered Certified Accountants (ACCA), United Kingdom, and the Institute of Chartered Accountants of Jamaica, respectively, Morrison's expertise in finance is extensive, and a strategic asset to Sterling, as the company plans for public listing and expansion into the eastern Caribbean.
"Dave joins the Sterling board highly accomplished, and with a keen understanding and appreciation of the nature of our business," stated Sterling's chief operating officer, Mildred Moss, in introducing Morrison at Red Bones Blues Café on Thursday. "He has a sound grasp of financial affairs in both domestic and international markets, and we look forward to his balanced and pragmatic contributions to our skills bank, our industry positioning, and to our long-term success as we take the company public."
Mr. Morrison's expertise in the areas of corporate recovery and organisational restructuring is also extensive, having served as audit senior and senior consultant at PricewaterhouseCoopers Jamaica, where he provided business advisory services, ranging from strategic planning and financial forecasting to devising corporate restructuring plans for recapitalising businesses.
One of Sterling's key industry differentials is its focus on corporate governance and commit-ment to best practices. The appointment of two independent directors is testament to this ideal, says Moss, and to the company's dedication to the fundamental tenets of fairness, transparency and accountability.
"The recent failures of a number of high-profile companies at home and abroad have brought a renewed focus on the importance of good governance. Our deliberate retention of select independent directors is an extension of our corporate values that we feel strengthens our product offering by providing another dimension to our investment services and client counsel."
PRESENT MEMBERS
At present, there are four members of the Sterling Asset board, including two executive members and two independent directors.
Sterling Asset Management Limited was founded in 2000 with a capital base nearly four times the stipulated requirement. The company's equity base has risen significantly since its inception, recording over $193 million by the end of March 2005.
Sterling Asset and its cadre of investment professionals provides medium to long-term financial advice and instruments in Jamaica, United States and other world-market currencies to the corporate, institutional and individual investor.
