Who's who in Jamaican business

[Hopyoneson]

Re: Who's who in Jamaican business



Ryland Campbell is a teacher turned Banker, who was educated at Mico College , the University of the West Indies and Columbia State University. He has held several executive management positions in commercial and merchant banking during his over 30 years in the Jamaican banking industry. Mr. Campbell is a recipient of the Mico College Millennium Award; the Ernst & Young Caribbean Entrepreneur Award 2000 for Financial Services, and has been named to the prestigious International Who's Who – a group of worldwide business and professional leaders. He is also a Past President of the Rotary Club of Kingston – Downtown and a Paul Harris Fellow.

Mr. Campbell serves as Chairman of the National Health Fund of Jamaica and of the National Development Foundation of Jamaica (a small-business NGO). He is a member of several other Boards including the Council of the University of Technology of Jamaica; the Mico Teachers' College, and the Council of Community Colleges.

Mr. Campbell, who has been a Director and Chairman of Capital & Credit Merchant Bank since its inception, is the Chairman/Group President and CEO of the Capital & Credit Financial Group.
CAPITAL AND Credit Merchant Bank Limited (CCMB) raised over $1 billion from its recently concluded rights issue, the board of directors announced yesterday.

The company raised $1,072,938,800 dollars or approximately 89 per cent of the $1,207,040 which the company sought from the 58.88 million shares offered at $20.50 per share to the market.

The rights issue which closed on Tuesday, November 15 came against the background of a very fragile financial market which has been showing massive declines on the Jamaica Stock Exchange (JSE) and some instability in the foreign exchange market.

"Raising over $1 billion in new capital in this market at this time is a considerable achievement," the bank's Chairman, Ryland T. Campbell, said. "We at Capital & Credit Merchant Bank have once again succeeded, as we did for the initial public offer of shares, despite the weakness of the stock market."

Capital & Credit Merchant Bank, now in its 12th year, is the first listed company on the JSE to have its rights issue traded and to have raiseD over $1 billion from it. The newly sold shares are expected to commence trading in a few weeks.

With the funds raised from the rights issue, CCMB will continue its focus on completing the re-alignment of its business model and the introduction of its new T-24 core-banking technology.

[Hopyoneson]

Re: Who's who in Jamaican business

Super Plus Food Stores - Jamaica's largest retailer


And directors/kids



Vincent and Gloria Chen have always been in the grocery business.

Vincent spent his childhood in the district of Snow Hill, Portland where his father operated a grocery shop. Gloria was born in Western Jamaica but grew up on Windward Road, Kingston where her adoptive mother operated a grocery. During the early 1950s they met while both working at Sang Hing Supermarket in Port Antonio, and later married.

They started their first business, Chen's, in Port Antonio in 1964. Gloria sold cloth, clothing and household goods at the store while Vincent worked as a Singer sewing machine salesman. They sold that business in 1967 when Vincent was promoted to regional manager by Singer, and the growing family moved first to St. Ann's Bay, then to Mandeville in 1968.

In Mandeville, they went into business again when they opened the Humpty Dumpty toy and baby store at the new Manchester Shopping Centre in 1968. The following year, Vincent left Singer and went into his business full-time. Business was good but the new import restrictions affected the toy imports and they sold the store and bought Ken Chin's Supermarket, Christiana in 1973. They operated that supermarket until 1978 when they sold it and retired for a year while they considered emigrating. They decided to stay in Jamaica and bought the L & M Supermarket at Park Crescent in Mandeville in 1979.

In 1981 their son Wayne and his then-wife, Antoinette came into the business after they graduated from the University of the West Indies with degrees in Law and Economics respectively. They bought their own businesses, A & P Superfair, Christiana in 1982 and Landem Discount Supermarket, Manchester Road, Mandeville in 1985.

In 1989, sons Charles and Richard, both computer programmers, returned from North America and bought J & D Supermarket, Main Street, May Pen. In 1992, Charles went off on his own and bought Daley's Supermarket, Main Street, Santa Cruz. Super Plus Food Stores was created on November 1, 1992 from the merger of the five supermarkets.

The thinking at the time was that the businesses were all doing very well individually but each its was doing its own advertising, marketing, and purchasing. By combining several functions to take advantage of economies of scale, they created the possibility of building a strong brand name. This made the consolidation inevitable.

The other important factor was the government's liberalisation of the retail trade. For many years, basic commodities such as flour, rice, cooking oil, and saltfish had been sold on quota at controlled prices. The freeing up of controls allowed Super Plus to grow at its own pace and set prices more aggressively.

This led to the rapid growth of the chain and soon branches were added at Midway Mall, Mandeville, Barnett Street, Montego Bay, and Portmore Pines. During that period the original directors were joined by siblings Jody, and his wife Debe, Robert, Lisa, Jeremy, and Colin, a Captain with Air Jamaica

Today the group is Jamaica's largest retailer, measured by gross revenues, with 24 stores and 1,500 employees. The group ranked first among all Jamaican retailers in customer transactions with an average of 180,000 weekly. This number continues to grow. The group has outlets in the eight major urban centres in Jamaica with plans to open at least five new stores in 2003.

Super Plus tailors its products and services to suit each locale; thus in high-income locations a wider range of upscale products are offered while lower income areas have more budget and basic products. The constants for all the stores are very competitive prices, a clean and attractive shopping environment, and a high standard of customer service.

The stores carry a wide range of groceries, personal care and household items. Most branches offer Western Union money transfers and Bill Express for payment of utility bills. Several also have cambios and ATMs. The group has its own distribution centre, a fleet of trucks, and a line of "Super Plus" branded products.

The Chen family remains the owners of the group. Vincent and Gloria Chen who started out in retailing four decades ago are now retired but eight of their nine children carry on the family tradition.

Wayne Chen, the Chief Executive Officer, was in 1998 named by the Jamaican Institute of Management as one of the Outstanding Young Entrepreneurs of Jamaica and in 1999 the Jamaica Observer newspaper named him the Jamaican Business Leader of the Year.

The only sibling not involved in the business has done well on his own.

Michael Lee-Chin, is the owner, chairman, and president of AIC, Canada's largest privately owned mutual fund company. In 1999 he was voted the Ernst and Young Canadian Entrepreneur of the Year for financial services.

His company recently bought the Government's majority holding in the National Commercial Bank Jamaica Limited.

All the children credit the practical, no-nonsense approach of their mother, Gloria, the patient effort and persistence of their father, Vincent, and the life-long experience of working in business as the keys to their success in the retail trade. They often joke that they all earned their B.Sc. degrees at an early age-B.Sc. standing for "Behind Shop Counter".

The group is committed to contributing to the communities in which it operates, and has won many citations and awards for its sponsorship of numerous community projects, particularly in the field of education.

[dahjah]

Re: Who's who in Jamaican business

this is great discussion please continue in de Business section


transfering

[CeaBee]

Re: Who's who in Jamaican business

*cho*

[CeaBee]

Re: Who's who in Jamaican business

Kingston 20..thanks for the great articles

could I ask you to add your sources please [img]/forums/images/graemlins/smile.gif[/img]

My articles came from various sources:

The Gleaner
The Observer
Company web-sites

[RichD]

Re: Who's who in Jamaican business

interesting that the Chen family story is incongrous with the Micheal lee Chin legend

[CeaBee]

Re: Who's who in Jamaican business

Originally posted by NotRichD:
[qb] interesting that the Chen family story is incongrous with the Micheal lee Chin legend [/qb]

How so?

[Hopyoneson]

Re: Who's who in Jamaican business

All of them have the same mother but Lee-Chin have different father, thats why you always see him mention him mother but hardly him puppa. My sources were

efinancial gleaner
The Gleaner
Super Plus Food web site
Capital merchant Bank web site

[RichD]

Re: Who's who in Jamaican business

Originally posted by coolbeans*:
[qb]

Originally posted by NotRichD:
[qb] interesting that the Chen family story is incongrous with the Micheal lee Chin legend [/qb]

How so? [/qb]

In media reports he acknowledged that he only had C$600 in his pocket earned from jobs on cruise ships and working at an aluminium plant. Calling home to Jamaica for money wasn't even an option, as his parents had seven younger children (future supermarket titans) to cope with on a grocery clerk's salary.

I went to school with the brothers and the family was solidly upper middle class...hardly a grocery clerk...

[Hopyoneson]

Re: Who's who in Jamaican business

oh and the part about him fada my source was from Mass Eddie in a Protland who did know him mada uncle second cousin daughter preacher.

[Guest]

Re: Who's who in Jamaican business

Pat Isaacs-Green (makes for unfortunate initials)

...if you have lots of equipment, get your own in-house technician rather than outsourcing.

Interesting - the trend nowadays is just the opposite. Companies outsource until the only 'staff' left are the company directors themselves.

[CeaBee]

Re: Who's who in Jamaican business



Mr. Wray is the President of First Global Bank Limited, a commercial bank, wholly-owned by Grace, Kennedy & Company Limited. Prior to assuming the presidency, he was the managing director of George & Branday Limited, and the executive director of First Global Stockbrokers Limited and Grace, Kennedy Capital Services Limited in Cayman.

He holds a BA in Economics and a MBA in International Business from George Washington University.

Mr. Wray, a career investment banker, has held senior management positions in commercial and merchant banks over the last 15 years in marketing, corporate finance, treasury and investments. He serves as a director of Allied Insurance Brokers, First Global Leasing Limited, GK Funds Management Limited in Cayman (formerly Grace, Kennedy Capital Services Limited) and Signia Financial Group Inc., a finance company and merchant bank in Barbados. He is the Treasurer of the Jamaica Bankers Association and currently serves as a Chairman of the Jamaica Institute of Bankers.

[CeaBee]

Re: Who's who in Jamaican business



RICHARD BYLES, BSc, MSc
President and Chief Executive Officer, Life of Jamaica

Mr. Richard Byles has been appointed to the position of President and CEO of Life of Jamaica Ltd., effective March 1st 2004. Mr. Byles is currently the President and CEO of Pan Jamaican Investment Trust Ltd. (Pan Jam), a post he has held since 1991. He is also the Chairman and CEO of Pan Jam's largest subsidiary, First Life Insurance Company Ltd. During his tenure as CEO of the Pan Jam Group, Mr. Byles was responsible for a number of mergers, acquisitions and other strategic business initiatives which have had a profound and positive impact on the performance of that Group.

Mr. Byles is a graduate of the University of the West Indies. He holds a BSc. in Economics and an MSc. in National Development from the University of Bradford, England. He is a director of several companies within the public and private sector of Jamaica.

http://www.sagicor.com/corporate-seniormngt.aspx

[CeaBee]

Re: Who's who in Jamaican business

Sandra Shirley one of Jamaica’s most
distinguished bankers and financial managers was appointed President of First Global Financial Services April 1, 2004.

After a successful ten year career at Bankers Trust in New York Ms. Shirley brought her financial skills home to Jamaica, where she launched Sigma Investment Management Systems and Sigma Unit Trust, two financial entities that became synonymous with successful, well managed growth.

A measure of the fact that in 5 years the Unit Trust achieved a 53% market share.

She holds an MBA from Pace University in New York, where she majored in Finance and Banking, and is also a graduate of the Senior Management Programme at the prestigious Wharton School of the University of Pennsylvania.

Since 2002, Ms. Shirley has been the Alister McIntyer Fellow at the Mona School of Business – University of the West Indies where she has been involved in conducting research and developing academic programmes relevant to the Financial Services sector

[blugiant]

Re: Who's who in Jamaican business

nice treed cb [img]/forums/images/graemlins/70409-waytogo.gif[/img]