Richard Byles is to be the next Governor of the Bank of Jamaica (BOJ).
Mr Byles will succeed Brian Wynter on August 19.
Minister of Finance Dr Nigel Clarke on Thursday announced the endorsement by the Cabinet of the selection of Mr Byles, who retired as CEO of Sagicor Jamaica. He is non-executive chairman of the financial group and is also chairman of Red Stripe.
Mr Byles’ stocks rose during the period when he served as chairman of the Economic Programme Oversight Committee, making regular assessment of Jamaica’s crucial agreement with the IMF, starting under the PNP administration.
A search committee had been set up in January to find a successor to Governor Brian Wynter.
A statement from the Finance Minister said: “Mr Richard Byles has had a 40-year career in business and finance and is one of the most accomplished corporate leaders of his generation.”
Mr Clarke said: “I have every confidence that Mr Byles will bring to the job of Governor the focused, principles and disciplined leadership that has characterized his career.”