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Byles for PSOJ Hall of Fame

Wednesday, September 13, 2017

Sagicor Group Chairman Richard Owen Byles is in line to become the 25th inductee in the Private Sector Organisation of Jamaica's (PSOJ) Private Sector Hall of Fame.

Byles, who is lauded as one of Jamaica's transformational private sector leaders, has had a long and illustrious impact on the development of the private sector and the streamlining of public policy to support private and public sector efficiency.

The PSOJ in a press release on Monday noted its first-hand experience with the decisive and results-oriented leadership of Byles who, during the periods 1997–1999 and 2000–2001 served as the PSOJ's honorary secretary and vice-president, respectively.

According to the PSOJ, Byles has been one of the unifying voices advocating strongly in support of private sector policies that would fuel the necessary conditions for the growth and economic development of Jamaica.

As chairman and former President and CEO of the Sagicor Group, Byles' leadership has been characterised by a series of successful mergers, acquisitions and divestments which have led to massive increases in profits and net worth of the organisation, as well as contributed to the entity's amplified brand awareness.

Prior to his move to Sagicor Group, Byles was the president and CEO of Pan-Jamaican Investment Trust Ltd (PanJam), where he successfully led PanJam's largest subsidiary, First Life Insurance Company Ltd, through the financial crisis in the 1990s.

According to Dennis Chung, CEO, PSOJ: “Richard Byles exemplifies the calibre of business leaders which are needed to propel Jamaica and its economy forward.” His keen business sense and commitment to national development, Chung continued, is one which is held in high esteem by the business community.

He further noted that Jamaica will be forever indebted to Byles for his contributions to the nation, especially during the time he served as co-chairman of Jamaica's Economic Programme Oversight Committee (EPOC), which had monitoring responsibility for the implementation of the IMF Agreement with the Government of Jamaica. The unparalleled success of EPOC, internationally, led to it becoming a standard enquired about and modelled by other countries as a way to addressing their own fiscal challenges.

Byles joins a list of 24 previous inductees, including last year's recipient, Gary “Butch” Hendrickson CD, JP, chairman and CEO of Continental Baking Company, and the 2015 recipient Earl Jarett CD, JP, chief executive officer of JN Group.