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Board of Directors

Drawing on an enviable mix of local, regional and global experience, the Board of Directors for the Barbados Stock Exchange Inc. provides the Exchange with strong leadership and strategic oversight.


BSE Directors

Randall Belgrave, QC, LEC, FCIArb

Chairman

Member of:

  • Audit & Finance Committee
  • HR & Compensation Committee

Randall D. Belgrave is a Queens Counsel and Chairman of the Board of Directors of the Barbados Stock Exchange Inc. (BSE), the Barbados Central Securities Depository Inc. (BCSDI) and a Director of other corporate and non-corporate organizations.

Mr. Belgrave is a member of the Barbados Bar Association, a fellow of the Chartered Institute of Arbitrators and he serves as legal counsel to several corporations including Royal Bank of Canada, Caribbean Financial Services Corporation and Popular Discounts Inc.

He is a graduate of and holds a LL.B (Upper Second Class Honours Degree) from the University of the West Indies (U.W.I) and the Legal Education Certificate (L.E.C.) from the Hugh Wooding Law School. His main areas of practice are in Banking, Civil, Commercial, Corporate, Offshore, Trusts, Labour and Real Property Law.

Mr. Belgrave is married and the father of two (2) sons.

 

 

Sir Trevor Carmichael, QC, KA, LVO, SCM, MA, PhD

Director

Sir Trevor Carmichael is a member of the International Bar Association, the Inter‑American Bar Association, the International Tax Planning Association, the International Fiscal Association, a former Deputy Secretary General of the International Bar Association, a Life Fellow of the Institute for Advanced Legal Studies in the United Kingdom, a Life Member of the Commonwealth Magistrates and Judges Association and current Director on the Board of the Barbados Stock Exchange Inc (BSE).

Dr. Carmichael is the Chairman and Principal of Chancery Chambers, one of Barbados’ premiere law firms that specializes in international business law, environmental law and the law relating to charities. He has addressed a wide range of audiences on international, commercial and tax matters and has authored over one hundred articles and monographs in the areas of Law, Economics and Public Policy.

Dr. Carmichael is the recipient of a multitude of Honours and Awards that include:

  • The Accolade of Knight of St. Andrew, Barbados’ highest national honour – in recognition of his outstanding contribution to the financial services sector, international business law practice and his several exceptional philanthropic and voluntary activities.
  • The Order of Barbados in the Grade of Silver Crown of Merit – in acknowledgment of his contribution to law, financial services, and the preservation of the national heritage.
  • The Governor–General of Canada’s Medallion – in acknowledgment of his contribution to the strengthening of relations between Canada and Barbados.
  • Lieutenant of the Royal Victorian Order by Queen Elizabeth – for his contribution to the Royal Household and particularly for his service to the Duke of Edinburgh International Award.

Sir Trevor is an appointed Independent Senator to Barbados’ Upper Chamber by the Governor-General of Barbados.

 

 

Dr. M. Patricia Downes Grant, CBE, MA, MBA, DBA, LLD

Director

Member of:

  • Audit & Finance Committee – Chair
  • HR & Compensation Committee – Chair

Dr. Patricia Downes-Grant is a former Chairman of the Barbados Stock Exchange Inc. (BSE) and Barbados Central Securities Depository Inc. (BCSDI), and a Director of several companies within the Sagicor Group and within the private sector of Barbados. ​

Dr. Downes-Grant was appointed Chief Executive Officer and President of Sagicor Life Inc on January 1, 2006, having served as Group Chief Operating Officer, since July 1, 2002. She joined Sagicor in 1991 and held several senior positions, including those of Vice President, Investments and Treasurer and Executive Vice President (Finance and Investments) before being appointed Chief Executive Officer.

Prior to joining Sagicor, Dr. Downes-Grant was a Senior Manager in the Management, Consulting and Insolvency Division of Coopers & Lybrand (now PricewaterhouseCoopers). Dr. Downes-Grant has also had significant work experience in development banking.

Dr. Downes-Grant holds an MBA in Finance, an MA in Economics, a Doctorate in Business Administration (Finance) and an Honourary Doctor of Laws from the University of the West Indies.

 

 

Cleviston L. Haynes Esq., M.A. (Econ.)

Director

Mr. Cleviston Haynes is the Governor of the Central Bank of Barbados. He represents the Bank on the boards of the Barbados Deposit Insurance Corporation and the Barbados Stock Exchange, and previously was a member of the Anti-Money Laundering Authority of Barbados.

Mr. Haynes joined the Central Bank in 1980 as an Economist and has served the Bank in several capacities, including Chief Economist, Adviser to the Governor, Director, Bank Supervision Department and most recently as Deputy Governor.

He has also served as Technical Assistant to the Executive Director for Canada, Ireland and the Caribbean at the Executive Board of the International Monetary Fund (IMF) during the period 1987-1989.

Most recently, as Chairman of the Regional Financial Stability Coordinating Council (RFSCC), he has been a key resource in the preparation of the Caribbean Regional Financial Stability Report.

Mr. Haynes is a graduate of the University of the West Indies and the University of Western Ontario. He has authored a number of academic papers in local and international publications, including papers on monetary policy and financial sector issues, and debt management in the Barbados economy.

 


 

Richard Cozier, CPA, CGA.

Director

Carl Richard Cozier is a member of the Master Brewers Association of the Americas, the International Society of Beverage Technologists, the Board of Trustees of BIMAP, the Barbados Private Sector Agency, and is the representative of the Barbados Chamber of Commerce and Industry on the Board of the Barbados Stock Exchange Inc (BSE).

Mr. Cozier is the current Chief Executive Officer (CEO) of Banks Holdings Limited (BHL), the largest beverage conglomerate in Barbados. In his role as CEO, he keeps a close eye on all developments in the manufacturing sector and uses his keen analytical skills to assess changes, particularly in the local and regional beverage market.

A fellow of the Institute of Chartered Accountants of Barbados (ICAB) he has worked in several key managerial positions within the BHL group of companies. Mr. Cozier joined the staff at Banks (B’dos) Breweries Ltd. in 1979 as an Accountant. He was appointed Chief Accountant in 1985 and six years later, General Manager of another BHL subsidiary, the Barbados Bottling Company (BBC). His dedication and commitment was further rewarded in 1999, when he was appointed Managing Director and CEO of the BHL Group comprising Banks (B’dos) Breweries, Barbados Dairy Industries Ltd. (PINEHILL Dairy), The Barbados Bottling Company Ltd. and Banks Distribution Ltd.

 

 

Paul Maxwell

Director

As President & CEO of Capita Financial – a Barbadian-owned company with OECS presence – as well as a Director of the Barbados Stock Exchange Inc (BSE) and Audit Committee Chair of the Caribbean Confederation of Credit Unions, Paul is well positioned in relation to regional finance matters – both from a corporate and grass-roots perspective.

This former University of the West Indies graduate has vast experience in the finance and telecommunications sector and has served on various committees and boards locally and regionally. His industry experience includes:

  • President of the Barbados Public Workers’ Co-operative Credit Union Limited on numerous occasions
  • Past President of the local credit union governing body; the Barbados Co-operative Credit Union League Ltd
  • Performed in various Finance capacities spanning management and corporate accounting as well as Regional Regulatory compliance at Cable & Wireless over a 12-year period

Paul was awarded a Diploma in Credit Union Management from the University of Wisconsin, USA and is a Certified Credit Union Director (CCUE) by the Credit Union Executive Society through the London School of Economics, England. He is currently enrolled in the Darden School of Business, University of Virginia, pursuing a Global MBA for Executives.

 


 

Roger Cave, CA, CFA

Director

Member of:

  • Audit & Finance Committee
  • HR & Compensation Committee

Roger Cave serves as Executive Director of Cave Shepherd & Company Limited and is a Director on the Board of Duty Free Caribbean (Holdings) Ltd and DGM Financial Group, associates of Cave Shepherd. He is currently a board member of the Barbados Stock Exchange Inc (BSE).

Roger is the founder and Investment Director of Fortress Fund Managers Limited, a subsidiary of Cave Shepherd.  Fortress manages a suite of mutual funds, including Fortress Caribbean Growth Fund, Fortress Caribbean Property Fund, Fortress Caribbean Pension Fund and Fortress Caribbean High Interest Fund.

Mr. Cave is a graduate of Bishop’s University, Canada where he obtained a BBA.  He is a CFA charter holder as well as a Chartered Accountant.  He is also a fellow of the Institute of Accountants of Barbados (FCA).

 

  

 

Ryle Weekes, CFA

Director

Ryle Weekes is the past President and Treasurer of the Barbados International Business Association and is a Director on the Board of the Barbados Stock Exchange Inc (BSE).

Ryle is the current President of Cidel Bank & Trust Inc. and is a member of the Cidel management and investment committees. Prior to joining Cidel in 2000, he worked as an equity analyst at TD Global Finance in Ireland and as an assistant consultant with KPMG Barbados.

Ryle holds a BSc (Honours) in economics and accounting from the University of the West Indies, is a CFA charterholder, and a member of the Barbados CFA Society and the CFA institute.

 

 

Marlon E. Yarde, JP., FCPA., FCGA., FCA., LL.B. (Hons)., LL.M. (Osgoode)., FCIS.

Director

Marlon E. Yarde has been with the Barbados Stock Exchange Inc (BSE) and its subsidiary, the Barbados Central Securities Depository Inc. (BCSDI) since November 1, 2003. He currently holds the position of Managing Director of the BSE and the BCSDI effective March 31, 2016.

Mr. Yarde has played a key role in many of the significant developments at the BSE over his fourteen-year tenure. These include, most recently, the BSE’s demutualization in December of 2015 and the launch of the International Securities Market (ISM) in March of 2016.

Mr. Yarde, an accountant by profession, is a Fellow of the Institute of Chartered Accountants of Barbados (member since May 1996) and a Fellow of the Chartered Professional Accountants Association of Canada (member since June 1995).

Mr. Yarde holds a Bachelor of Laws Degree (LL.B) from the University of Huddersfield in the UK and a Master of Laws Degree (LL.M) in Securities Law from Osgoode Hall Law School of York University in Toronto, Canada. He also holds the Fellowship designation (FCIS) from the Institute of Chartered Secretaries and Administrators (ICSA) in Canada.

 


BCSDI Directors

Randall Belgrave, QC, LEC, FCIArb

Chairman

Member of:

  • Audit & Finance Committee
  • HR & Compensation Committee

Randall D. Belgrave is a Queens Counsel and Chairman of the Board of Directors of the Barbados Stock Exchange Inc. (BSE), the Barbados Central Securities Depository Inc. (BCSDI) and a Director of other corporate and non-corporate organizations.

Mr. Belgrave is a member of the Barbados Bar Association, a fellow of the Chartered Institute of Arbitrators and he serves as legal counsel to several corporations including Royal Bank of Canada, Caribbean Financial Services Corporation and Popular Discounts Inc.

He is a graduate of and holds a LL.B (Upper Second Class Honours Degree) from the University of the West Indies (U.W.I) and the Legal Education Certificate (L.E.C.) from the Hugh Wooding Law School. His main areas of practice are in Banking, Civil, Commercial, Corporate, Offshore, Trusts, Labour and Real Property Law.

Mr. Belgrave is married and the father of two (2) sons.


 

Dr. M. Patricia Downes Grant, CBE, MA, MBA, DBA, LLD

Director

Member of:

  • Audit & Finance Committee – Chair
  • HR & Compensation Committee – Chair

Dr. Patricia Downes-Grant is a former Chairman of the Barbados Stock Exchange Inc. (BSE) and Barbados Central Securities Depository Inc. (BCSDI), and a Director of several companies within the Sagicor Group and within the private sector of Barbados. ​

Dr. Downes-Grant was appointed Chief Executive Officer and President of Sagicor Life Inc on January 1, 2006, having served as Group Chief Operating Officer, since July 1, 2002. She joined Sagicor in 1991 and held several senior positions, including those of Vice President, Investments and Treasurer and Executive Vice President (Finance and Investments) before being appointed Chief Executive Officer.

Prior to joining Sagicor, Dr. Downes-Grant was a Senior Manager in the Management, Consulting and Insolvency Division of Coopers & Lybrand (now PricewaterhouseCoopers). Dr. Downes-Grant has also had significant work experience in development banking.

Dr. Downes-Grant holds an MBA in Finance, an MA in Economics, a Doctorate in Business Administration (Finance) and an Honourary Doctor of Laws from the University of the West Indies.


 

 

Cleviston L. Haynes Esq., M.A. (Econ.)

Director

Mr. Cleviston Haynes is the Governor of the Central Bank of Barbados. He represents the Bank on the boards of the Barbados Deposit Insurance Corporation and the Barbados Stock Exchange, and previously was a member of the Anti-Money Laundering Authority of Barbados.

Mr. Haynes joined the Central Bank in 1980 as an Economist and has served the Bank in several capacities, including Chief Economist, Adviser to the Governor, Director, Bank Supervision Department and most recently as Deputy Governor.

He has also served as Technical Assistant to the Executive Director for Canada, Ireland and the Caribbean at the Executive Board of the International Monetary Fund (IMF) during the period 1987-1989.

Most recently, as Chairman of the Regional Financial Stability Coordinating Council (RFSCC), he has been a key resource in the preparation of the Caribbean Regional Financial Stability Report.

Mr. Haynes is a graduate of the University of the West Indies and the University of Western Ontario. He has authored a number of academic papers in local and international publications, including papers on monetary policy and financial sector issues, and debt management in the Barbados economy.


 

 

Vernon Williams

Director

Mr. Vernon Williams has had an illustrious career in both the public and private sectors of Barbados.

Now retired, Mr. Williams’ resume is unabridged and includes past chairmanship roles for the National Petroleum Corporation, the Barbados Mortgage Finance Co. Limited, and the Combermere School; and directorship roles on the Boards of the Barbados National Bank and the Public Service Commission. He is presently a director on the Board of the Barbados Central Securities Depository Inc (BCSDI).

Mr. Williams was appointed a Justice of the Peace in 1976 and was awarded the Silver Crown of Merit in 1999. He is widely regarded as an instrumental figure in the development of youth cricket on the island.

 

 

Clenell Goodman

Director

Mr. Clenell Goodman is a retired career banker with over thirty-six (36) years’ experience in that industry. Twenty-four (24) years of his banking experience were spent with a Canadian-based bank where he worked in numerous positions and locations in Barbados, the Eastern Caribbean area and the Bahamas.

From 1994 until 2003, Mr. Goodman was appointed General Manager and Chief Executive Officer of the Mutual Bank of the Caribbean Inc., following its acquisition by one of the largest insurance companies in the region who seized the opportunity to purchase the bank. After placing that bank on a sound path of profitability, Mr. Goodman was then given the responsibility for finding a purchaser for the Company. The Company was acquired by the Bank of Butterfield Bermuda Ltd, and he then served as the Managing Director during the transition period.

During his career Mr. Goodman has served in various capacities on the boards of several private and public companies in the banking sector.

In 2015, Mr. Goodman was appointed Executive Chairman of New Life Investment Company Inc., and Chairman of Resolution Life Assurance Company Ltd. These companies were incorporated to implement the court ordered solution to the CIL insolvency.

 


 

Marlon E. Yarde, JP., FCPA., FCGA., FCA., LL.B. (Hons)., LL.M. (Osgoode)., FCIS.

Director

Marlon E. Yarde has been with the Barbados Stock Exchange Inc (BSE) and its subsidiary, the Barbados Central Securities Depository Inc. (BCSDI) since November 1, 2003. He currently holds the position of Managing Director of the BSE and the BCSDI effective March 31, 2016.

Mr. Yarde has played a key role in many of the significant developments at the BSE over his fourteen-year tenure. These include, most recently, the BSE’s demutualization in December of 2015 and the launch of the International Securities Market (ISM) in March of 2016.

Mr. Yarde, an accountant by profession, is a Fellow of the Institute of Chartered Accountants of Barbados (member since May 1996) and a Fellow of the Chartered Professional Accountants Association of Canada (member since June 1995).

Mr. Yarde holds a Bachelor of Laws Degree (LL.B) from the University of Huddersfield in the UK and a Master of Laws Degree (LL.M) in Securities Law from Osgoode Hall Law School of York University in Toronto, Canada. He also holds the Fellowship designation (FCIS) from the Institute of Chartered Secretaries and Administrators (ICSA) in Canada.

 


Board Support

Ezra Marshall, MBA

Deputy General Manager – Operations

Ezra Marshall has been with the Barbados Stock Exchange Inc. (BSE) and Barbados Central Securities Depository Inc. (BCSDI) since June 1st, 1998. He holds the post of Deputy General Manager and is directly responsible for all operating activity.

Mr. Marshall has, in his nearly twenty (20) years with the BSE, been in the forefront of the implementation of electronic trading, clearance and settlement systems for the BSE & BCSDI. His input has been instrumental in the creation of a technologically sound, world-class stock exchange and its depository which is compliant with internationally recognized trading and settlement standards. As Chairman of the Technical Committee of the regional grouping of Caribbean exchanges, which includes the Barbados, Jamaica and Trinidad & Tobago exchanges, he has also been a driving force behind the move to a single platform for the Caribbean Exchanges Network (CXN) with a goal of achieving a single unified Caribbean order book.

Mr. Marshall holds a Bachelor of Science in Economics from the University of the West Indies – Cave Hill and a Masters in Business Administration with specialization in International Business from the University of Liverpool.

Mr. Marshal is a sport enthusiast. He is the President of the Benfica Cricket Club and is Treasurer of the Barbados Darts Association and his domino club, the B.U.T. Cavaliers.



 

Kerry Greene

Corporate Secretary

Kerry Greene is the Corporate & Executive Secretary of the Barbados Stock Exchange Inc. (BSE). With over seventeen years of experience in the Capital Markets industry, Ms. Greene provides invaluable support to the enduring success of the Exchange.

Ms. Greene has been actively involved in several projects at the BSE, including its most recent Demutualization on December 22, 2015. She lends her strategic assistance and operational insights to the Managing Director, the Deputy General Manager and the Board of Directors in support of all major initiatives at the stock exchange.

Prior to joining the BSE, Ms. Greene worked within the legal fraternity. She holds a BSc in Social Sciences from the University of the West Indies – Cave Hill Campus and has pursued additional training throughout the years to enhance her administrative skills. She is currently in diligent pursuit of her Chartered Secretaries’ designation with the Institute of Chartered Secretaries Association (ICSA).

Ms. Greene has a wonderful sense of humor and enjoys interacting with her colleagues and clients alike. She has one daughter and is an avid Member of the Anglican Church.

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