The contract of Lisa Bell, managing director of Jamaica’s EXIM Bank, is currently undergoing discussion among the Board of Directors.

Bell has held the position since 2010.

Prior to her heading EXIM, she served as deputy president of Jamaica Promotions Corporation (JAMPRO).

Her role as managing director may very well undergo some changes as the Government seeks to merge the EXIM Bank with the Development Bank of Jamaica (DBJ). Rather than having two state finance institutions, perhaps it is prudent to have one that combines both functions.

This may entail some streamlining and combining of resources and expertise.

Back in 2018, both the EXIM Bank and the DBJ expanded their services to the micro, small and medium-sized (MSME) sector.

The EXIM Bank has a tradition of having its head give long service to the state institution.

Bell’s predecessor, Pamella McLean, served the EXIM Bank for 24 years. When Bell took over the reins, then Chairman Gary ‘Butch’ Hendrickson fortuitously said: “Every managing director has their own touch but not really a great deal of change is expected. If anything, a continuation of what McLean started.

“The bank has a mandate as a development bank and expects to stay as close to that as possible. McLean started us off in the right direction  and I am sure Bell will continue that.”

The Board of the EXIM Bank no doubt will be looking at Bell’s contractual terms and will make a determination shortly.

Describing her management approach during an interview in 2019, Bell said: “Detailed analysis is always important in decision-making. Early in my career I had the privilege of spending some time with a very successful businessman, I daresay a mogul. He gave me some sound advice which I remember was counter to all the management theories which I had been taught at university relating to the importance of detailed analysis in decision-making. He said that sometimes you need to make a decision when you have 80 per cent of the data and use your gut to guide you.

“Learning to trust your instincts, is important in decision making because it’s the confluence of all the experiences you have had up to that point. He cautioned that sometimes we get so caught up with overanalysing a problem that we remain frozen in action and oftentimes lose the benefits of a speedy decision. I have since learned through experience to learn when to trust my own instincts and act knowing that I will usually have the time to tweak and /or correct the decision.”

STEADFAST SERVANT

Will her instincts see her signing a new contract or will she move on and devote her time and experience to a charitable foundation of her choosing?

She has been a steadfast servant of the EXIM Bank and has spearheaded a number of initiatives there.

The EXIM Bank falls under the Ministry of Industry, Investment and Commerce.

Only last week, Dianne Edwards, the president of JAMPRO, announced her decision to not renew her contract and said she will be stepping down as of December 31.