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Scotia DBG Investments (Scotia DBG) is a subsidiary of Scotiabank Group Jamaica Limited (Scotiabank Group). In February 2008 the shareholders and Board of Directors approved the name change of Dehring Bunting & Golding Ltd. to Scotia DBG Investments Ltd. (Scotia DBG). To formalize this change, the listed company was changed on the Jamaica Stock Exchange on April 16, 2008 from DB&G to SDBG. This rebranding represents the coming together of two great entities: the strength of Scotiabank fused with the dynamism and innovation of DBG. The financial landscape will never be the same.
Scotia DBG is supported by a cadre of talented, experienced and motivated professionals, who deliver the firm's menu of products and services with the support of state-of-the-art technology. Senior executives provide the necessary guidance for new recruits and ensure that the highest standards of business practice and ethics are maintained. The company is led by CEO, Anya Schnoor. Overall policy and direction is established by an astute and experienced board comprised of Stephen Vasciannie (Chairman), Anya Schnoor (CEO), Barbara Alexander, Anthony Chang, Hon. William Clarke (O.J), Angela Fowler, Muna Issa, Dr. Anna Law, Philip Martin, Anthony Woodward Stacie-Ann Wright.
Scotia DBG provides a compelling alternative for individuals and institutions worldwide, by providing them with an elite financial services portal. Scotia DBG prides itself on having a personal touch with its clients, and team members are committed to enhancing the economic prosperity of their customers, by providing premium customer service and innovative financial solutions.
The company is dedicated to developing and upholding the highest standards of integrity and professionalism.
(Our History)
Dehring Bunting & Golding Ltd. (DB&G) opened its doors in 1992 as an investment firm, and the company was publicly listed on the Jamaica Stock Exchange in August of that same year. Since then, it has developed into a comprehensive financial service provider. DB&G has a total of seven branches; six branches in Jamaica, and a branch in Trinidad. The company has had a major impact on the regional capital market, by promoting investing and saving as a functional device for financing corporate and overall economic growth. DB&G's capital market assignments have spanned several sectors of the Jamaican economy, and have involved multi-faceted stock and bond issues, privatization and financial advisory services, mergers and acquisitions, as well as syndicated loans.
In 1992, the firm played an integral role in developing the market for corporate commercial paper. Today this market has mushroomed, with the involvement of other brokers and merchant banks, into a platform trading billions of dollars worth of securities.
Scotia DBG provides exclusive asset management and corporate credit services, to individuals and institutional clients. The institution currently has approximately $58.6 billion in assets under management, through an innovative family of financial products and services. The company operates a cambio that has established itself as a leader in the Jamaican foreign exchange market. Scotia DBG is also an authorized primary dealer, through which the Bank of Jamaica (BOJ) conducts its open market trading operations. In January 1999, DB&G finalized a merger agreement with Billy Craig Finance and Merchant Bank Ltd., thus adding insured deposit products to its growing list of product options through DB&G Merchant Bank Ltd . In 2001, DB&G concluded negotiations to take 100% control of the merchant bank by purchasing the remaining shares in Billy Craig that were held by the Financial Sector Adjustment Company (FINSAC). DB&G later received approval from the BOJ to acquire Issa Trust and Merchant Bank Ltd., along with an authorized dealer license, which allowed for the acceptance of foreign exchange deposits and the making of foreign exchange loans.
In March 2000, DB&G acquired the Eagle Unit Trust Management Company and broadened the menu of products offered through DB&G Fund Managers Ltd. The two unit trust funds previously managed by Eagle were re-named the DB&G Money Market Fund (MMF) and the DB&G Premium Growth Fund (PGF). Since they were acquired in March 2000, the MMF has grown by 198 % and the PGF by 308 %, as at March 31, 2007.
The company acquired a seat on the Jamaica Stock Exchange (JSE) and was permitted to operate as a stockbrokerage as of September 2001. The brokerage service also brought with it a number of firsts to the Jamaican investor. Its website gives exclusive access to a range of technical and fundamental information, including detailed company analyses and charts, along with Jamaica's first real-time stock ticker. DB&G also offers innovative option contracts & margin accounts for the sophisticated investor.
The stockbrokerage unit is comprised of professional, experienced and committed staff. Its core function is to provide clients with credible, well-researched advice about the stock market and to execute trades with the utmost integrity and maximum efficiency. The most notable transaction executed in the 2007 fiscal year was done in December 2006 in the capacity as lead broker for the takeover of Scotia DBG by Scotia Group. Similarly, DB&G was the lead local broker in First Caribbean's acquisition of additional shares in First Caribbean Jamaica – this was the first equity based regional transaction spanning Jamaica, Trinidad, and Barbados. Some of the firm's other major brokerage transactions include the sale of J$79.5 million shares in Life of Jamaica Limited (LOJ) and the divestment of J$28.5 million Government's shares in Radio Jamaica Limited (RJR). The firm is a consistent market leader in terms of the total value of shares traded.
DB&G continued to make waves throughout the Jamaican financial sector. At the most recent JSE Best Practices Award in December 2007, DB&G was awarded 2 awards: Runner-up for Best Annual Report and 3rd place for Best Corporate Website. Prior to this in December 2006 it was the recipient of five awards, outperforming all other Jamaican publicly listed companies. These awards included:
Scotia DBG continuously invigorates the Jamaican bond market. One of its most significant achievements was co-managing the funding of Jamaica's largest road project with the issuance of a unique "Highway 2000" Bond. This private placement was valued at over J$3.5 billion and structured as a 30-year, inflation indexed, 4.5% bond that provided a much-needed boost to promote confidence in the country's economy. Another notable transaction for DB&G was the over J$2.5 billion securitization of receivables derived from the Government of Jamaica's sale of its shares in National Commercial Bank Jamaica Ltd. to AIC Ltd.
In October 2006, DB&G launched its consumer finance initiative, - Easy Own - through a subsidiary, Asset Management Company Limited. This service facilitates the ability to purchase furniture and major appliances, from participating vendors throughout Jamaica, on very manageable terms, through a hire purchase agreement. The current participating vendors that offer Easy Own are Appliance Traders Limited, Bashco Trading Company Ltd., Business Management Limited, Khemlani Mart, MegaMart Wholesale Club, Simartsoft Inc Limited and Today's Furniture.
(April 2008)
