Drawing on an enviable mix of local, regional and global experience, the Directors for the Barbados Stock Exchange Inc. & the Barbados Central Securities Depository Inc. provide 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.

Michelle Doyle Lowe, B.Sc., M. Phil, CFA

Director
Michelle Doyle-Lowe is the Deputy Governor (Ag.) of the Central Bank of Barbados.
Doyle-Lowe, a career central banker, joined the Bank as an Economist in 1997 and she has held the posts of Deputy Director, Banking, Currency and Investments, Adviser to the Governor, and most recently Director of Research and Economic Analysis Department.

She has contributed significantly to the formulation of policy as well as to the management of public debt, the reserves and financial sector development.

Doyle Lowe has also garnered immense exposure to the Bank’s operations, including the oversight of its payment systems and more recently she expanded her depth of knowledge and experience while serving as the Bank’s chief liaison with regional and multilateral agencies, and as the principal coordinator of the Government of Barbados’ bond issuance on the capital market.

A Chartered Financial Analyst (CFA) since 2005, Doyle-Lowe also possesses a B.Sc. (Hons) Economics from the University of the West Indies and an M.Phil. in International Finance from the University of Glasgow, Scotland, United Kingdom.

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.

Jillian Nunes, CFA

Director
Jillian Nunes is the Vice President and Country Head at Royal Fidelity Merchant Bank and Trust (Barbados) Limited.

Jillian manages the daily operations and oversees the investment management services of discretionary client assets including: mutual funds, trusts, High Net Worth Clients and institutional investors. Prior to joining Royal Fidelity in 2009, Jillian was employed at Caribbean Money Market Brokers (CMMB).

Ms. Nunes holds a Bachelor’s from the University of Toronto and has been a CFA charter holder since 2011.

Dexter Moe, BSc. (Hons.), MBA, ACIS, CFA

Director
Dexter Moe is the Vice President, Investment Management Services at Sagicor Asset Management Incorporated.

Dexter brings over 15 years of investment management experience to his role of Vice President. In this position, he is responsible for developing and implementing the investment management strategy for life insurance, pension and asset management portfolios.

Mr. Moe and the team at Sagicor Asset Management are strongly committed to providing a wide range of investment solutions for individual investors as well as local, regional and international institutions.

Randy Graham

Director
Randy Graham is the Chief Executive Officer (CEO) of Massy United Insurance Ltd. and is responsible for the future growth and progress of one of the region’s leading insurance providers.

Prior to joining Massy United Insurance, Randy served as the CEO of the Financial Services Commission (FSC) in Barbados, where he was responsible for the strategic vision of the organization which regulates, supervises and monitors the non-bank financial system, inclusive of the insurance, pensions, credit unions and securities sectors.

His expertise in the financial and insurance industry is extensive as he was also the Director of Insurance and Pensions at the FSC and General Manager of Insurance Management and Professional Services (IMPS). Randy is a trained Risk Manager and also lectures at the University of the West Indies (Cave Hill School of Business), the Insurance Institute, and the Credit Union League.

Randy graduated Suma Cum Laude from Southwest Missouri State University with a degree in Insurance and also holds a Master of Science degree in Risk Management from St. John’s University in New York. His awards and scholastic achievements include the Spencer Education Fund Scholarship, St. John’s University Graduate Research Grant, and the Dean’s Distinguished Scholar Award. He was also the first person in Barbados to receive the designation of a Barbados Chartered Insurer.

Randy has consistently held several executive leadership positions and has sat on several Boards of both local and regional associations, as a Director.

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.

Michelle Doyle Lowe, B.Sc., M. Phil, CFA

Director
Michelle Doyle-Lowe is the Deputy Governor (Ag.) of the Central Bank of Barbados.
Doyle-Lowe, a career central banker, joined the Bank as an Economist in 1997 and she has held the posts of Deputy Director, Banking, Currency and Investments, Adviser to the Governor, and most recently Director of Research and Economic Analysis Department.

She has contributed significantly to the formulation of policy as well as to the management of public debt, the reserves and financial sector development.

Doyle Lowe has also garnered immense exposure to the Bank’s operations, including the oversight of its payment systems and more recently she expanded her depth of knowledge and experience while serving as the Bank’s chief liaison with regional and multilateral agencies, and as the principal coordinator of the Government of Barbados’ bond issuance on the capital market.

A Chartered Financial Analyst (CFA) since 2005, Doyle-Lowe also possesses a B.Sc. (Hons) Economics from the University of the West Indies and an M.Phil. in International Finance from the University of Glasgow, Scotland, United Kingdom.

Dexter Moe, BSc. (Hons.), MBA, ACIS, CFA

Director
Dexter Moe is the Vice President, Investment Management Services at Sagicor Asset Management Incorporated.

Dexter brings over 15 years of investment management experience to his role of Vice President. In this position, he is responsible for developing and implementing the investment management strategy for life insurance, pension and asset management portfolios.

Mr. Moe and the team at Sagicor Asset Management are strongly committed to providing a wide range of investment solutions for individual investors as well as local, regional and international institutions.

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.