The recent controversies that have erupted regarding practices, procedures and expenditure at President’s House does not come as a surprise to me.
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Iton is new CEO of TTSEC
The Board of Commissioners of the T&T Securities and Exchange Commission (TTSEC) yesterday announced the appointments of C Wainwright Iton and Lystra Lucillio as chief executive officer and deputy chief executive officer, respectively. C Wainwright Iton, popularly known as Wain Iton, is the immediate former CEO of the TT&T Stock Exchange Ltd (TTSE)—a position he held since December 2007.
Prior to that appointment, Iton ran a private consultancy offering guidance on corporate finance matters with particular emphasis on the structuring of initial public offerings (IPOs). From 1987 to 2004, Iton headed the Jamaican Stock Exchange (JSE) and is credited with leading the transformation and modernisation of the exchange from a manual operation to a fully computerised marketplace. He was also instrumental in helping shape legislation relating to securities and equity laws.
Iton began his career at one of the Caribbean’s largest corporations, GraceKennedy, where he was a project manager and corporate planning analyst identifying new business opportunities and providing analysis on acquisitions from 1982 to 1987. From 1979 to 1982, he was a lecturer in the Department of Management Studies at The University of the West Indies (UWI), where he developed the curriculum in management accounting, financial management and general management.
The TTSEC’s new chief executive officer has more than 30 years’ experience in finance and management and holds a Bachelor of Science (first class honours) in Management Studies from The University of the West Indies (UWI) and a Masters in Business Administration from the University of Western Ontario, Canada.
Lystra Lucillio has been employed at the T&T Securities and Exchange Commission since 2007 and was previously the Commission’s Director, Information Management. In that position, she was charged with delivery of strategic and tactical information systems, project management, business continuity and disaster recovery.
In her new position as deputy CEO, she is expected to work closely with the CEO and provide support by assisting in the regulation of the securities industry to ensure the stability of the financial system, the protection of investors and the overall management and performance of the Commission.
Lucillio is the holder of an Undergraduate degree in computer science and management studies (honours) and a Masters in business administration in finance. The TTSEC Board of Commissioners, chaired by Prof Patrick Watson, welcomed the new executive team and expressed heartfelt gratitude to Justice Norton Jack, who held the position of CEO (Ag.) from December 2011 to September 2013.
The TTSEC is an autonomous agency established by an Act of Parliament (The Securities Industry Act, 1995) to regulate the securities market. That legislation was repealed and replaced by the Securities Act 2012, which was proclaimed on December 31, 2012. This revised legislation is intended to provide further protection to the investor, promote integrity and transparency and foster the development of the securities market.