JCSD Trustee Services (JCSDTS) was founded in July 2008 for the express purpose of providing efficient, reliable and cost-effective trustee services to the financial services industry. The Company is wholly-owned subsidy of the Jamaica Central Securities Depository (JCSD), which itself is a wholly owned subsidiary of the Jamaica stock Exchange (JSE).
JCSDTS shares the same Board of Directors as the JCSD and operates out of shared offices at 40 Harbour Street, in Kingston, Jamaica. It is governed by a Board of Directors comprised of well-known and respected members of the financial services industry and representatives of the Bank of Jamaica and Ministry of Finance.
Trustee services are a logical extension of existing lines of JCSD business and are ably supported and complemented by the JCSD’s other established divisions. The Registrar Services Division has over 11 years’ experience and administrative abilities in the maintenance of efficient computer-based registers. The Depository Operation Division has effectively managed electronic share books, pledge facilities and mandate instructions with a zero-loss record for over 17 years.
Composition of the Board of Directors
- Representative from the Bank of Jamaica
- Representative from the Ministry of Finance
- Representative from the Broker Members
- Non –Seat Holders
Products and Services
- Administration of Funds under Trust
- Monitoring of Invested Trust Assets
- Maintenance of Accounting Records in respect of Funds
- Collecting and recording of Income on Trust Assets
- Filing of Income Tax Returns
- Safekeeping facilities for Securities
- Provide monthly reports on Trust Activities
- Collateral Agent and Collecting Agent for Guaranteed Note and Bonds.
With a strong cadre of experienced managers and directors, the JCSDTS is confident of being able to provide an efficient and reliable trustee service.
Ms. Andrea Kelly, BSc, MBA is the General Manager for the Jamaica Central Securities Depository Limited (JCSD) and JCSD Trustee Services with overall responsibility for operations and supervision of both entities. From June 2015 to March 2018, Ms. Kelly served as the Manager for the JCSD Trustee Services, prior to that she was the Assistant Manager for Investments, Operations and Securities Settlements at MF&G Asset Management Limited
The Trustee Services has targeted various customers, which include:-