When Managing Director Dr Marlene Street Forrest joined the Jamaica Stock Exchange (JSE) more than 25 years ago the stock market was a niche arena, with less than three per cent of the adult population participating.

Today, under her leadership, nearly 20 per cent of Jamaicans are engaged in investing—a testament to her efforts in democratising access to wealth-building opportunities.

“For me, this is transformational. We’ve moved from about 50,000 account holders to over 380,000 today,” Street Forrest tells JIS News in an interview.

The managing director has not only steered the institution through transformative growth but has also redefined how Jamaicans perceive wealth creation and investment.

Her tenure has been marked by a dramatic expansion of the JSE’s offerings. From a single main market with about 20 listings, the exchange now boasts more than 130 securities across multiple markets, including a junior market for small and medium-sized enterprises (SMEs), a bond market, and even a US-denominated market. This diversification has not only attracted more investors but also provided businesses with innovative avenues for raising capital.

Dr Street Forrest sees the stock exchange as more than just a marketplace; she views it as a critical engine for national economic growth. “A vibrant stock exchange underpins economic development,” she explains.

By mobilising capital and fostering intergenerational wealth creation, the JSE has become a cornerstone for innovation and entrepreneurship in Jamaica. Her leadership also emphasises reducing reliance on external economic forces by encouraging local investment.

This strategy has created a self-sustaining ecosystem where businesses can access “patient capital” while investors reap long-term benefits.

A significant part of Dr Street Forrest’s legacy lies in her embrace of technology to modernise the JSE. From introducing an online trading platform to launching mobile apps and customer service portals, she has made investing more accessible than ever before.

These tools have attracted younger investors and demystified the stock market for everyday Jamaicans. One standout initiative is the virtual stock market game, which educates students and aspiring investors about trading dynamics.

“Technology is both an opportunity and a challenge,” Dr Street Forrest admits, citing the high costs associated with these advancements. Yet, her commitment to innovation remains steadfast. “We must deliver products quickly—not carelessly—but quickly to meet market demands,” she says.

Beyond numbers and technology, Dr Street Forrest’s leadership philosophy is deeply rooted in emotional intelligence and trust. She believes that organisations thrive when leaders prioritise people. “You have to lead with emotional intelligence, understanding that people are intricate beings,” she says.

This approach has fostered loyalty among her team and stakeholders alike, enabling the JSE to weather economic booms and downturns with resilience. She emphasises transparency as a cornerstone of her leadership style. “A market thrives on trust and confidence,” Dr Street Forrest says.

By aligning with key stakeholders, such as brokers and listed companies, she ensures that the JSE remains responsive to their needs while maintaining its reputation for fairness and efficiency.

Dr Street Forrest is preparing to retire after more than two decades at the helm of the JSE – a tenure marked by extraordinary achievements, such as guiding the exchange through demutualisation and earning global recognition as one of the world’s best-performing stock markets in 2015 and 2018. 

While her departure will mark a significant transition for the institution, she views it as a natural evolution. “The transition is necessary in every organisation,” she notes. “New blood comes in—a new chance to ensure that the company grows,” Dr Street Forrest tells JIS News.

The search for her successor is well underway, with applications closed earlier this year. The Board has been deliberate in identifying a visionary leader capable of continuing her legacy of innovation and excellence. Dr Street Forrest remains committed to ensuring a seamless handover process during this transformative period for the JSE.

As the managing director looks to the future, she envisions even greater strides for the JSE. From exploring digital asset markets to developing commodity exchanges and leveraging big data analytics, her focus remains on keeping Jamaica’s capital markets competitive on a global scale.

She also underscores the importance of calculated risk-taking. “You cannot grow this market in a linear way; you have to innovate constantly,” Dr Street Forrest says.

Her vision extends beyond financial metrics; it’s about creating an inclusive economy where every Jamaican can participate in wealth creation. Whether through education initiatives or new investment products, she is determined to make the JSE a catalyst for national prosperity.

Marlene Street Forrest’s impact on Jamaica’s financial landscape is undeniable. Under her stewardship, the Jamaica Stock Exchange has evolved into one of the most dynamic Exchanges in the region, earning international accolades along the way. Yet, for all her accomplishments, she remains grounded in her belief that people are at the heart of progress.