Peter Melhado took over as the chairman of Sagicor Group Limited on Monday, July 1 after a special meeting of the group’s directors prior to the holding of the company’s annual general meeting.
Melhado replaces Richard Byles, who resigned as chairman of the conglomerate to take up the position as governor of the Bank of Jamaica.
Melhado will also be appointed director and chairman of Sagicor Life Jamaica Ltd and Sagicor Life of the Cayman Islands Ltd, subject to regulatory approvals.
He will continue as a director of Sagicor Bank Jamaica Ltd, but will no longer serve on the board of Sagicor Investments Jamaica Ltd.
Melhado has been a director with the Sagicor Group since 2004.
He is president and chief executive officer of the ICD Group Holdings Ltd, an investment holding company with interests in real estate development, general insurance, technology distribution, e-commerce, business process outsourcing, IOT, and property management.
In a candid interview with the Observer’s Sunday Finance, Melhado, who is currently off the island, shared his thoughts about his new position, former chairman Byles, the role of the Sagicor and the current state of the Jamaican economy.