Jamaica Launches Search for New Central Bank Governor

The Government of Jamaica has begun the search for a new governor of the Bank of Jamaica, as incumbent Richard Byles prepares to step down at the end of his term in August 2026.

Finance Minister Fayval Williams said the selection will prioritize candidates capable of strengthening macroeconomic stability, modernizing the financial system, and expanding access to digital payments nationwide.

According to the Ministry of Finance, the next governor will be tasked with advancing digital financial inclusion – particularly for underserved communities – while ensuring monetary policy supports broader economic outcomes, including job creation and investment growth.

A four-member search committee has been appointed to oversee the process and shortlist candidates. It comprises Calvin McDonald, a former deputy secretary at the International Monetary Fund; Kathryn Phipps, an attorney and ambassador; Delroy Hunter, professor of international finance at the University of South Florida; and Minna Israel, a senior financial services executive with ties to the University of the West Indies.

The committee will submit a shortlist to Cabinet, with the final appointment to be made by the Governor-General in accordance with the Bank of Jamaica Act.

The ministry said the structured process is designed to ensure leadership continuity while reinforcing the central bank’s mandate to maintain financial stability and support sustainable economic growth.