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JMMB acquires AIC Securities
The JMMB Group has acquired full ownership of AIC Securities Ltd. In a statement yesterday, the Jamaica-based company announced that it had received regulatory approval to proceed with the transaction through its newly-opened local subsidiary, JMMB Investments (Trinidad & Tobago) Ltd. The company said it will be using its acquisition of AIC Securities to further deepen its foray into T&T. “This supports an even more diversified bundle of financial solutions that serves to meet the financial goals and needs of its clients, at every stage of their life. With the conclusion of this acquisition, JMMB’s portfolio in Trinidad will become further boosted by the inclusion of mutual fund offerings. JMMB also owns Intercommercial Bank and Intercommercial Trust & Merchant Bank, both headquartered in Chaguanas, Trinidad,” the company said.
Headquartered in Kingston, Jamaica, JMMB is a unique financial services group founded on the principles of love and having the best interest of all at heart. It has operations in Jamaica, the Dominican Republic and T&T. Its lines of business span securities dealing, stock brokering, foreign exchange trading, insurance brokering, banking and remittances. It is listed on the T&T, Barbados and Jamaica Stock Exchanges. AIC Securities Ltd, a former member of the AIC Financial Group, is headquartered and has two locations in Trinidad. It is a securities dealer that offers portfolio management and investment advisory services. As a stock broker, it is a member of the T&T Stock Exchange (TTSE).