JM | Oct 3, 2022

It’s official! Deveta McLaren joins Dolla Financial, effective today

/ Our Today

Deveta McLaren

Durrant Pate/ Contributor

As reported by Our Today last month, long time marketing manager for micro financier, Access Financial Services (AFS), Deveta McLaren officially joined competitor, Dolla Financial Services today (October 3).

She has been given the title of chief strategy officer and will play a key role in Dolla’s expansion plans, which include an outright takeover of its older competitor, AFS, where her knowledge of the company, having worked there a long time, will be key in any successful takeover bid. McLaren is well known in Jamaica’s micro financing circles and is a welcome addition to the Dolla Financial family, which is seeking to acquire AFS, though its board has been saying the company is not for sale.

McLaren currently serves as chairperson of EXIM Bank and sits on the board of JAMPRO and, up until April this year, was a board member of the Jamaica Social Investment Fund. She had been with AFS for almost 11 years.

McLaren lists as her competencies experience in managing people, processes and strategies in retail, remittances and microfinance. She will also be instrumental in bringing the Dolla brand to other parts of the region, having started out in Jamaica and expanding to Guyana last year.

In the meantime, Our Today checked with Dolla sources, who indicated that there is still an interest in acquiring AFS. However, no move has been made formally to place an offer on the table.

But the James Clan, comprising AFS founder Marcus James and his father, Neville, who also sits on the board of AFS, are adamant to repel any attempts by Dolla to carry out a hostile takeover.