BUSINESS LOUNGE
Survival of the fittest: Chris Williams leads NCB Capital Markets back to the top of the food chain Andre Burnett - Your Money
D
arwin’s theory of Natural Selection is usually accompanied by the term “Survival of the Fittest”, a term which most people misconstrue. Fit, by Darwinian standards, does not mean the individual with the best physical conditioning but rather it is the individual with the most suitable attributes to not only persist in unfavourable environments but also do well enough to ensure continuity. After releasing their annual reports which show a net profit of over $1.7 billion, Christopher Williams and his NCB Capital Markets (NCBCM) Company are running laps around the proverbial fiddle.
said Mr. Williams, “we focused on being more aggressive with asset management in order to ensure that our asset yield would perform above market.” The NCBCM annual reports show that the assets of the company grew by $75 billion, a 13.4% increase. “With this added drive to better manage the money entrusted to us we also doubled our efforts to reach our customers, added Mr. Williams,” we expanded our distribution channels and strengthened our marketing effort by including sponsorship of some rather unique events, we even established a blog so the customer could feel direct contact with the management of the company.”
The 125% turnaround in profit comes a year after the company suffered one of the biggest write-offs in their his tory only to be faced with an unprecedented worldwide economic slowdown. “We had a mandate to meet and we could’ve either spun around in circles or we could’ve buckled down and get the task at hand done” said the NCBCM Boss as he sat with us in our Business Lounge, “we chose to get it done, no excuses around here.”
There are numerous clichés one could employ to refer to one’s reaction to adversity, but the test lies in ones resilience and confidence that they are expected to succeed so they involve every fiber into the that pursuit. “When you wake up in the morning, you know that not everyone is going to make it so you have to be better, faster and stronger,” said a smiling Christopher Williams, “we’re NCB Capital markets, we had every confidence in our ability to bounce back stronger than ever.
Mr. William has been in charge of the wealth management arm of NCB since its rebranding in 2003 and has led from the front in positioning the company as the leading firm of its kind in the country. With a less than ideal situation rearing its head, the management of the company had to take a hard look internally in order to be effective externally. “We implemented a centralization strategy which saw several of departments becoming smaller, leaner and therefore more streamlined”
Advertisement
Watch your savings go up, up, up! Open with $20,000 or more TODAY!
1-888-NCB-FIRST www.jncb.com
YOUR MONEY INSIGHTS
Economic Slowdown...so what? Resilience Trumps Recession Andre Burnett - Your Money Reporter
T
he sky remained intact despite overwhelming forecasts that it would vacate its present location. Last year was a rough one and that is a fact that few can deny but on the back stretch of the worst economic slowdown in recent memory comes the news that National Commercial Bank (NCB) has recorded profits of $10.2 billion in the last financial year. Yes, that is NET profit and that “b” is no typo. It seems that NCB might’ve missed that memo from doom and gloom about the world being in a recession. Now that the recession has confidently been declared as over by those who missed it in the first place and the vintage champagne has started flowing again at the Coq d’Argent in London, it is heartening to hear news of companies that actually performed well during the tough times. It is usually joked about that funeral homes and accountants thrive in any atmosphere since death and taxes are unavoidable, but banks and insurance companies got in on the act as Sagicor Life Jamaica saw its best year of operation to date posting $4 billion dollars in profit on the back of some shrewd acquisitions. So what did NCB, Sagicor and a few others do right? Using data compiled from studying and conducting surveys about the recession of the 90’s, top researchers from consulting company Accenture, Jane Linder and Brian McCarthy put forward a number of strategies that they found to ultimately be the difference between the winners and the losers. It was noted that companies that performed well had effectively set the stage by implementing strategies that were bound to benefit them in times of prosperity and in times of hardship. By amassing liquid assets, minimizing debt and narrowing portfolios to focus on areas where they could establish strong footholds these companies built an ark to ferry them to safety. Preparation is one thing, but execution under pressure may be the defining factor of doing well in a downturn. Everybody thinks to cut costs, delay or eliminate spending but cutting the right costs and spending on the right things is the key. Knowing one’s strengths and weaknesses and being open to innovation when it comes to leveraging these strengths may be one of the most important skills a
company executive could possess when under pressure to deliver in less than ideal situations. Alas, there is no formula or magic elixir for keeping one’s books in the black but the importance of being levelheaded cannot be overstated. Yeah, times get tough, but when has that ever been a valid excuse for nonperformance?
Advertisement Contact us at: Tel: 876 967-8040
“the resort inFax: the976 city” 967-8873
Email: morgansharbourhotel@live.com Eve Air- ry roo mh Co Dire Wo ndition as: c Voic t Dial T rk Des ing ema elep k ho il a Tele nd Da nes wi t t Cof Hair vision a Port h fee d & Te ryer a fa cilit ies
Morgans Harbour offers:
* Daily boating service to Lime Cays’ white sand beach * A delectable Sunday brunch with live cabaret entertainment * Meetings, Banqueting and wedding facilities * Special retreat packages * Special Group packages SPECIAL DISCOUNTS AVAILABLE TO YOUR MONEY SUBSCRIBERS!
MIND YOUR BUSINESS Benefits of Business Cards by: Gail’s Graphic Designs
There are many steps involved in starting a business, but an important one that is often overlooked, is business cards. Although business cards are common, they add a personal touch and can make a statement on those looking for your business. They are a small part of your company that you can leave behind wherever you go. You never know just who may be seeking your services. All Types of Businesses Can Benefit From Business Cards Business cards are more important for a small business than for a larger corporation. Specific skilled trades such as, graphic designers, consultants, or housecleaning services, don’t always rely on a large body of customers, but depend more on a few local clients. These clients provide references to friends and other contacts to allow your business to grow. The other business type that benefits the most from business cards is Internet-based businesses. It’s important to remember that when people leave your website, they generally forget that you exist, so your responsibility is to remind them. Having a business card can keep you, your business, products, and services in the minds of your future clients. You have a better chance of having them use your services or passing your information on to someone else, if they have a convenient way of contacting you. Highlight Your Company’s Best Attributes A clean slate is sometimes the best way to introduce yourself. With a business card, you can accentuate all of your best qualities, similar to a tiny resumé or personal advertisement. Business cards allow you to present yourself or business in a more formal and credible light. The traditions of business easily recognize business cards like an identity. Business cards come in all different forms and can be very simple or full of creativity, but since business cards are so common, creativity is important. It’s better to set yourself apart from your competition and a creative business card is a great way to do so. Business cards are meant to leave an impression, so that later, your company will be thought of when products or services are needed. The more creative your business card is, the more likely it is that you will be remembered. Promoting Your Business With Ease If you would want to promote your business and perhaps establish your name in the local area, drop off your business cards in stores and boutiques where your clientele is accessible. This is a small gesture that easily links you to a potential network. You can be up-to-date with the new
trends and business activities. Many stores also offer discounts and freebies to those people who give them their business cards. Other companies use collected business cards to survey the audience that they attract. Knowing this information, it is easier to appeal to specific target markets. You can use this tactic for your business as well. Business cards should be handy at all times so you can share them with people who might be interested in your products or services. As an entrepreneur, you should never leave home without one! ............................................................................................ Based in New York, Gail’s Graphic Designs offers a broad spectrum of creative design and communication solutions to assist in the marketing of your small business. Contact Gail Lewis at glewis@gailsdtp.com or visit Gail’s Graphic Designs at www.gailsdtp.com. Contributing writer Joe Witte
Advertisement A Single Source Solution Provider For All Your Graphic Design Requirements. WE WANT TO BE YOUR GRAPHIC DESIGN PARTNER.
SPECIALIZING IN: • Branding • Creative Design • Advertising • Direct Marketing W W W . G A I L S D T P. C O M www.Twitter.com/MarketingNYC
917.873.9660
Credits Publisher eZines Limited Suite #25 Technology Innovation Center University of Technology 237 Old Hope Road Kingston 6 Telephone: (876) 512-2657 Managing Director Tyrone Wilson Your Money Reporters Andre’ Burnett Ryan Blake Kenartur Mitchell Jr. Latoya Hutchinson Columnist Cherryl Hanson Simpson Financially S.M.A.R.T Services Francis Wade Design and Layout Omar Phinn
www.yourmoneyezine.com Send us your comments to editor@yourmoneyezine.com
Subscription subscription@yourmoneyezine.com Editorial editor@yourmoneyezine.com Your Money eZine is a product of eZines Limited, and is distributed via e-mail and other online sources such as Facebook. To subscribe FREE, log onto www.yourmoneyezine.com today or email to subscription@yourmoneyezine.com Advertising advertising@yourmoneyezine.com
Each time you read Your Money eZine, you are supporting the fight against global warming and also a move towards eco-friendly products.
Read Your Money today...
Save the world tomorrow!