Cabinet yet to receive BOJ Governor shortlist

KINGSTON, Jamaica — Minister of Finance and the Public Service Fayval Williams says the committee searching for the next governor of Bank of Jamaica (BOJ) has not yet submitted its shortlist to Cabinet, pushing back against a Sunday Finance report that identified Senior Deputy Governor Dr Wayne Robinson as the front-runner for the post.

In a statement issued Sunday, Williams said Cabinet had not been informed of any front-runner and warned that speculation and the naming of candidates could undermine the selection process.

She said applications were received and reviewed solely by the search committee, which has not yet tendered its shortlist.

The statement did not say whether Robinson had applied, been interviewed or was among the candidates being considered. It confined its response to the status of the formal process and the fact that no shortlist had reached Cabinet.

The Sunday Finance report, which was based on information from a senior Government source, said Robinson was regarded as the leading candidate to replace outgoing Governor Richard Byles. The report made clear that no final decision had been announced and that it was not known whether Cabinet had received a recommendation.

Efforts to obtain a comment from Williams before publication were unsuccessful, as calls to her cellular phone went unanswered. Further calls to the minister following the release of Sunday’s statement were also unsuccessful.

Williams said the committee process was similar to the one used seven years ago to select Byles, with candidates interviewed before findings were presented.

She added that the current committee’s work is expected to be completed by the end of July.

The committee, appointed in April, is responsible for identifying a shortlist of suitable candidates. Cabinet will then consider the names and decide on the individual to be recommended to the governor general for appointment under the Bank of Jamaica Act.

Byles was appointed governor effective August 19, 2019, after coming out of retirement. His tenure is scheduled to end in August.

Robinson is BOJ’s second-ranking executive and an ex-officio member of its board, Monetary Policy Committee, Financial Policy Committee, Supervisory Committee and Financial System Stability Committee. The career central banker has played a leading role in the design and implementation of Jamaica’s monetary policy and financial market reforms.