Black Jamaicans in the ownership class

[Panajar]

CHANGEMAKERS - The changing face of Jamaica's 'ownership class'

Hidden behind $4 billion worth of share equity, the Capital and Credit Merchant Bank holds a real story of change.

<span style="font-size: 17pt">Black Jamaicans have only just begun to be a part of the ownership class in their own country</span> and one of the men who heralded that change, and more than that, orchestrated it, was Ryland Campbell.

Garnering a banking licence in 1994,<span style="font-size: 14pt"> an impossible feat until the collapse of the financial sector in the '90s,</span> the man, a former school teacher and bank manager, took Capital and Credit from being worth $20 million to what it is today.

For being not just an entrepreneur
, but one of those men of colour who opened the door for others of his kind, Ryland Campbell is this week's changemaker.

Almost as a tribute to his achievements, the bank owner's powerful image is aptly found in Peter Ferguson's book, also appropriately titled, 'Changemakers'.

link

i wonda if this man still standing ,he his one of the few that flew the coop respect brother and watch your back ,they will be coming for you. dam shame that black people in their own country just starting to get a real piece of the pie,yet nuff people on and off this board pretend that Jamaica does not have economic racism .

[Dr.Dudd]

Re: Black Jamaicans in the ownership class

I have known him for a longtime. He only got his start because his Financial Backing came form his association with black people from the eastern Caribbean, If it was not for them, the local oligarchs would have eaten him up. But I still don't think his wealth will be successfully passed down to another generation. . That is where the problem is. the ruling oligarchs usually find some way that seem top be fair to take it all away..
Ever heard of Kelley's,that use to own the soft drink bottling plant at three miles? How about Bennetts national Lab.
those were large black-owned industries at some time. But they have been strangled. and have disappeared from the memory ofthe people.
Eventually even the bank of capital and commerce, or whatever his bank name, will also experience that fate. the system is well grounded, and it is just him fighting with one hand tied behind his back. See what they did with Smith? He was growingtoo fast. and they had no othe rmethod of stoppinghgim. The problem is that the knowledge is not limited toi him. It just so happen that it won't be thateasy to destroy the knowledge.

[Panajar]

Re: Black Jamaicans in the ownership class

But yu know wat doc, i am surprise that they publish a article like this,claiming that before the collapse of the banking sector in the 90s, blacks could not get a banking license .some people thing that both of us were just making up these arguments for the hell of it.I am glad they publish this article.

[Dyoll_73]

Re: Black Jamaicans in the ownership class

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Garnering a banking licence in 1994, an impossible feat until the collapse of the financial sector in the '90s,...</div></div>

This is not true. Don Crawford, a black Jamaican, got a licence to start Century National Bank. Jamaica Citizens Bank was started by another black Jamaican (don't remember his name, but he had a license). Delroy Lindsey, a black Jamaican, had a license to operate the rebranded Worker's Bank (yes, it had existed prior to its ownership by the Corporate Group controlled by him). These licenses were all given before the banking meltdown of the 90s.

Century collapsed; the other two were taken over by FINSAC and later absorbed into Union Bank, and then sold to RBTT. Without disclosing too much, I can tell you that <span style="text-decoration: underline">I personally know</span> these banks did not collapse because their owners/founders were black.

Incidentally, some banks that were owned/founded by non-blacks also collaped or were taken over by FINSAC - Eagle Commerical and Merchant Banks, Island Victoria Bank, Trafalgar Commercial Bank, Blaize Trust and Merchant Bank, etc.

[Panajar]

Re: Black Jamaicans in the ownership class

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Humano</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Garnering a banking licence in 1994, an impossible feat until the collapse of the financial sector in the '90s,...</div></div>

This is not true. Don Crawford, a black Jamaican, got a licence to start Century National Bank. Jamaica Citizens Bank was started by another black Jamaican (don't remember his name, but he had a license). Delroy Lindsey, a black Jamaican, had a license to operate the rebranded Worker's Bank (yes, it had existed prior to its ownership by the Corporate Group controlled by him). These licenses were all given before the banking meltdown of the 90s.

Century collapsed; the other two were taken over by FINSAC and later absorbed into Union Bank, and then sold to RBTT. Without disclosing too much, I can tell you that <span style="text-decoration: underline">I personally know</span> these banks did not collapse because their owners/founders were black.

Incidentally, some banks that were owned/founded by non-blacks also collaped or were taken over by FINSAC - Eagle Commerical and Merchant Banks, Island Victoria Bank, Trafalgar Commercial Bank, Blaize Trust and Merchant Bank, etc. </div></div>

Where is don Crawford now? let me answer my own question his &quot;financial empire&quot; has been destroyed.Of course i wouldn't expect a different response from you...

[Dyoll_73]

Re: Black Jamaicans in the ownership class

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Panajar</div><div class="ubbcode-body">Where is don Crawford now? let me answer my own question <span style="font-weight: bold">his &quot;financial empire&quot; has been destroyed.</span></div></div>

Yes, I already told you that, smarty.

Now please finish this sentence: &quot;Don Crawford's bank (and the other's I mentioned, if you will) collapsed because ...&quot;

[Panajar]

Re: Black Jamaicans in the ownership class

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Humano</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Panajar</div><div class="ubbcode-body">Where is don Crawford now? let me answer my own question <span style="font-weight: bold">his &quot;financial empire&quot; has been destroyed.</span></div></div>

Yes, I already told you that, smarty.

Now please finish this sentence: &quot;Don Crawford's bank (and the other's I mentioned, if you will) collapsed because ...&quot; </div></div>

I dont all the details as to why the financial sector collapsed in the 90s ,but this i can tell you,Sigma Unit Trust, owned by the white Matalons, was a relatively MINOR player in the domestic financial sector. Not only has it survived however, but it has been recently allowed to merge with the much smaller Manufacturers Merchant owned by the Melhados.Mergers between unit trusts and merchant banks were previously held by the Minister of Finance to be pernicious, and a reason for his earlier interventions in the financial sector through FINSAC. So why was the rules changed for these guy? <span style="font-weight: bold">Tom drunk but tom no fool. </span>

[Dr.Dudd]

Re: Black Jamaicans in the ownership class

I know all these people.
Lindsay was a manager in workers bank and Don Crawford was at national commercial bank.
the difference with them was that they were front men for the real investors, who was anything but black.
While Ryland Campbell headed a real black bank.
Well you could say thejamaica citizens bank was before that too. It had a balck shoreholdeerr too and itwas establisged inthelate 60's-early 70's. but before the PNP took office..The majori shoreholder of Jamaican citizens Bank was Citizens and southern bank of georgia.
black shareholding init was no greater than in scotian Bank Jamaica<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Humano</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Garnering a banking licence in 1994, an impossible feat until the collapse of the financial sector in the '90s,...</div></div>

This is not true. Don Crawford, a black Jamaican, got a licence to start Century National Bank. Jamaica Citizens Bank was started by another black Jamaican (don't remember his name, but he had a license). Delroy Lindsey, a black Jamaican, had a license to operate the rebranded Worker's Bank (yes, it had existed prior to its ownership by the Corporate Group controlled by him). These licenses were all given before the banking meltdown of the 90s.

Century collapsed; the other two were taken over by FINSAC and later absorbed into Union Bank, and then sold to RBTT. Without disclosing too much, I can tell you that <span style="text-decoration: underline">I personally know</span> these banks did not collapse because their owners/founders were black.

Incidentally, some banks that were owned/founded by non-blacks also collaped or were taken over by FINSAC - Eagle Commerical and Merchant Banks, Island Victoria Bank, Trafalgar Commercial Bank, Blaize Trust and Merchant Bank, etc. </div></div>

[Dr.Dudd]

Re: Black Jamaicans in the ownership class

I notice that Human chose to attack you instead of the gleaner that published that story.
The story is almost 3 years old.
yet he is the first one to recognize that it is based on an error.<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Panajar</div><div class="ubbcode-body">But yu know wat doc, i am surprise that they publish a article like this,claiming that before the collapse of the banking sector in the 90s, blacks could not get a banking license .some people thing that both of us were just making up these arguments for the hell of it.I am glad they publish this article. </div></div>

[Panajar]

Re: Black Jamaicans in the ownership class

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">I notice that Human chose to attack you instead of the gleaner that published that story.
The story is almost 3 years old.
yet he is the first one to recognize that it is based on an error.<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Panajar</div><div class="ubbcode-body">But yu know wat doc, i am surprise that they publish a article like this,claiming that before the collapse of the banking sector in the 90s, blacks could not get a banking license .some people thing that both of us were just making up these arguments for the hell of it.I am glad they publish this article. </div></div> </div></div>

I notice it too,it is a classic debating tactic,attack the party you consider &quot;weaker&quot;. From his postings he has a vested interest in maintaining the status quo in Jamaica.As far as he is concerned slavery and colonialism did not happen in Jamaica it is all just a illusion .

[Dyoll_73]

Re: Black Jamaicans in the ownership class

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Panajar</div><div class="ubbcode-body">I dont all the details as to why the financial sector collapsed in the 90s ,but this i can tell you,Sigma Unit Trust, owned by the white Matalons, was a relatively MINOR player in the domestic financial sector. Not only has it survived however, but it has been recently allowed to merge with the much smaller Manufacturers Merchant owned by the Melhados.Mergers between unit trusts and merchant banks were previously held by the Minister of Finance to be pernicious, and a reason for his earlier interventions in the financial sector through FINSAC. So why was the rules changed for these guy? <span style="font-weight: bold">Tom drunk but tom no fool. </span> </div></div>

Again: Don Crawford's bank collapsed because ...&quot;

[Dyoll_73]

Re: Black Jamaicans in the ownership class

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">I know all these people.
Lindsay was a manager in workers bank and Don Crawford was at national commercial bank.
the difference with them was that they were front men for the real investors, who was anything but black.
While Ryland Campbell headed a real black bank.
Well you could say thejamaica citizens bank was before that too. It had a balck shoreholdeerr too and itwas establisged inthelate 60's-early 70's. but before the PNP took office.. </div></div>

This is incoherent rambling. It seems to me that that if, as you say, their investors were &quot;anything but black&quot; then that's a reason these banks should have remained standing; I mean, isn't that the 'plan' - to preserve white wealth as all costs?

[Dr.Dudd]

Re: Black Jamaicans in the ownership class

Even when the major publisher publish the story over 3 years ago??
People like these should be completely ignored.
i mean they want to argue with you although all you did was to post a news article from a respect news source??

this is really over the top.<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Panajar</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">I notice that Human chose to attack you instead of the gleaner that published that story.
The story is almost 3 years old.
yet he is the first one to recognize that it is based on an error.<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Panajar</div><div class="ubbcode-body">But yu know wat doc, i am surprise that they publish a article like this,claiming that before the collapse of the banking sector in the 90s, blacks could not get a banking license .some people thing that both of us were just making up these arguments for the hell of it.I am glad they publish this article. </div></div> </div></div>

I notice it too,it is a classic debating tactic,attack the party you consider &quot;weaker&quot;. From his postings he has a vested interest in maintaining the status quo in Jamaica.As far as he is concerned slavery and colonialism did not happen in Jamaica it is all just a illusion . </div></div>

[Dyoll_73]

Re: Black Jamaicans in the ownership class

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">I notice that Human chose to attack you instead of the gleaner that published that story.
The story is almost 3 years old.
yet he is the first one to recognize that it is based on an error.[quote=Panajar] </div></div>

You really should get your head examined. He attacked me first, saying he didn't expect a different response, and he has continued to do so instead of providing info I requested. I don't mind throwing a jab or two myself, but my posts on this board are substantially issues related. So to attack me first personally, then claim that he is being attacked by me, strikes me as perverse.

[Dyoll_73]

Re: Black Jamaicans in the ownership class

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">i mean they want to argue with you although all you did was to post a news article from a respect news source?? </div></div>

You have to come better than that. It's fair game when said article is used to bolster one's case.