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Promotion and Development Ltd (PaD) has appointed Dean Lam as Chief Executive Officer, effective 1st July 2025, marking a strategic leadership transition for the leading investment company. Mr Lam's extensive banking credentials position him perfectly to optimize PaD's investment portfolio and explore new financial opportunities. He succeeds Mrs Jocelyne Martin, who retires after three decades of distinguished service.
As a Fellow member of the Institute of Chartered Accountants in England and Wales, he holds a BSc (Hons) in Accounting and Finance from the London School of Economics and Political Science. Lam's decade at HSBC Mauritius as Managing Director demonstrates his capability to manage complex operations.
He also served as Vice-Chairman of the Mauritius Bankers Association from 2015 to 2017. Former directorships include Mauritius Finance and membership of Business Mauritius' Economic sub-committee. His strategic integration with PaD began in December 2023 as Director of Strategy and Development.
Company Portfolio
PaD is a leading investment company in Mauritius,which has a majority stake in Caudan Development Ltd, the promoter of the landmark Caudan Waterfront project in Port Louis.
PAD’s portfolio is deliberately weighted toward property-related assets, but it also invests in financial services and other sectors. It has significant shareholdings in other Mauritian blue-chip companies, namely, Médine Limited (35.1% stake), Eudcos, MCB Group Ltd (2.54%) and MFD Group. In the fiscal year ending June 30, 2024, the company had an annual revenue of Rs 816.84M.
Its largest shareholder is Fincorp Investment Ltd, holding approximately 42.58% of PAD. Fincorp is a subsidiary of MCB Group, one of Mauritius’s largest financial institutions. Looking at the figures, MCB Group controls Fincorp, which controls PAD, and PAD owns a minority stake in MCB Group Ltd. This structure also means a small portion of MCB Group’s shares are, in effect, “held within the group.”
