Mayberry's imposing new head-quarters on Oxford Road, New Kingston.
- WINSTON SILL/FREELANCE PHOTOGRAPHER
WHILE SENIOR executives at Mayberry Investments Limited (MIL) have refused to confirm the particulars surrounding the sudden departure of their former fixed income division manager and executive director, Nigel Bair, from the brokerage and investment firm, Wednesday Business understands that detectives arrested Bair about two weekends ago.
But according to police sources who disclosed the information, the case against Bair was dropped when the complainant refused to pursue charges.
Last Thursday, following the story in Wednesday Business, Mayberry sent an advisory to the Jamaica Stock Exchange saying that "Arising from routine checks, our accounting and compliance department discovered breaches of MIL policies by Nigel Bair." In pointing out that Bair "was no longer an employee of the company," the company said that Mayberry had "not incurred any financial loss as a consequence of Bair's actions."
On Friday, in another press release to the JSE, Mayberry advised that Bair had resigned from the company's board.
Bair, described by a source as a 'foundation member' of Mayberry Investments, spent some 20 years with the company which he joined as an assistant accountant in 1986, eventually moving up the ranks to become MIL's senior fixed income trader.
According to a Wednesday Business source, Bair was not the only employee who has left the firm recently. It is understood that the company's senior vice-president for fixed income trading, Maxine Umrah and a member of the sales team, Sean Smikle, parted ways with Mayberry last week.
