Lessons in Leadership with Keith Duncan

Published: Friday September 5, 2008

Keith Duncan took over as the head of the company founded by his mother Joan Duncan, from his sister Donna Duncan-Scott back in November 2005. Keith has helped to steer JMMB into being arguably Jamaica's best indigenous financial institution which now enjoys a presence in both the Caribbean and Central America.

JMMB started some fifteen years ago with a capital base of around J$200 million. Today that has leapt to J$7.5 billion with assets under management of J$105 billion.

Keith Duncan is a founding member of JMMB and joined the company in 1993 in the capacity of trading manager. He assumed the responsibilities of deputy managing director in 2000 and was later appointed president & chief operating Officer in 2004. Prior to JMMB, Keith served as international sales co-ordinator at FDR Holidays and managing director of Jamaica Seafood Exports Limited. He has also served as Chairman of the National Youth Service and as President of the Jamaica Securities Dealers Association.

On assuming the position of Group CEO, Keith gave an insight into the leadership strategy he would be adopting and ther direction in which he would take the group of companies. Today, JMMB is on the verge of being granted a commercial banking licence in Jamaica. It has come a long way from being a player in the local money market.

"The energy and culture of the JMMB team continues to drive us to achieving excellent results. Our Vision of Love has been the foundation of our success over the years. This concept involves creating an organisational environment, in which team players can achieve their full potential.

"As is stated in our "Vision of Love", the company, therefore, represents the medium through which individuals may have dreams for themselves; and can extend those dreams beyond the organisation into an infinite, prosperous and abundant society. In the process, all individual and organisational goals are achieved."

Ten lessons from Keith Duncan

1. Champion a shared team culture. Lead by example. Where my behaviour may be counterculture, be the first to clean it up.

2. Ensure that there is full team alignment and where there are breakdowns move as quickly as possible to realign.

3. Shared Strategic Vision/Plan - making sure that everyone gets the big picture and their role in making it happen.

4. Team always being in the world of the client and that there is a clear value proposition that we all believe, stand for and can stand behind.

5. As a leader be open to criticisms, suggestions, change, new ideas. Be clear that I am far from perfect and I make mistakes as anyone else does. However, I must be willing to own up to my mistakes and accept responsibility where the organisation may underperform or fail. This example will foster an open environment.

6. Strive to ensure honesty, transparency and openness with all stakeholders, team members, clients, shareholders and the investing and wider public.

7. Ensuring that all team members are accountable and take responsibility. Also, acknowledging team leaders/members for their successes and their efforts in moving our company forward.

8. Ensure that there is an understanding by all stakeholders of the market environment, the stage of development of the organisation in relationship to competitors and to the industry, both locally and in the markets that we target for expansion. In ensuring a clear understanding, the expectations off all stakeholders can be managed.

9.Do not have unrealistic expectations of team leaders. Understand that people will be at different stages of development, emotionally and professionally. However, do your best in supporting people to move forward for their personal benefit and that of the organisation.

10. Circumstances and conditions will never be ideal; in fact in most situations they will be far from ideal. However, a leader has to remain steadfast and keep moving forward with the full confidence that we have made the right choice and are moving in the right direction and there is always room for improvement along the way.


Source: Jamaica Observer
http://www.jamaicaobserver.com/magazines/Business/html/20080904T200000-0500_139829_OBS_LESSONS_IN_LEADERSHIP_WITH_KEITH_DUNCAN.asp