New chairman for VMBS
Published:Sunday | February 20, 2011 | 12:00 AM
Businessman Michael McMorris has been appointed to be the new chairman of the Board of Directors of the Victoria Mutual Building Society (VMBS).
McMorris, the former deputy chair of the society, will succeed Roy Hutchinson, who has served as chairman for the last seven years.
McMorris is the principal of the business management firm KRONOS Limited. He specialises in new venture development and corporate management, and most recently, piloted the development of Secrets Resort in Montego Bay.
He served VMBS as a director for five years on the risk and finance committees of the board and currently serves as deputy chairman of British Caribbean Insurance Company, as well as chairman of Victoria Mutual Wealth Management Limited.
McMorris said he was enthusiastic about his appointment.
"I am honoured to be elected chairman of Jamaica's most enduring and endearing financial institution. I am proud to say that I assume the role at a time when there is dedication at all levels of the group to deliver on our time-honoured mandate to make the Victoria Mutual Building Society the path to financial prosperity for everyday Jamaicans, indeed, every Jamaican," he said.
Continuing mission
"This level of commitment and focus is due in no small part to the leadership of former chairman, Roy Hutchinson, who has served his tenure with distinction, worthy of those before him. Our continuing mission is to create the 21st-century platform that answers the evolving needs of our diverse member base and points the way for new, emerging financial consumers to become part of a better society for generations to come."
McMorris was previously an executive director of Jamaica Promotions (JAMPRO) and has held managing-director positions with the former Trafalgar Commercial Bank and Knutsford Capital Merchant Bank, which he helped to found. He has been president of the Merchant Bankers' Association, chairman of the Finance Committee of the Airports Authority of Jamaica, and a director of the National EXIM Bank of Jamaica.