The staff and shareholders of Jamaica’s largest securities dealer by shareholders’ equity, Barita Investments, have already entered celebration mode as the company prepares to ring in its 45th anniversary on September 2, 2022.
Recognizing this tremendous milestone, the company will soon launch a series of celebratory activities under the banner ‘Barita 45’.
Barita was founded in 1977 by trailblazer and investment icon Rita Humphries-Lewin, one of the first women to establish a stock brokerage in the western hemisphere and the very first woman to serve as chairperson of the Jamaica Stock Exchange and in fact any stock exchange across the Caribbean.
Since then, the company has become a household name by positively impacting the lives of the customers, staff, shareholders, and the wider society while creating an avenue to financial liberation for ordinary Jamaicans. In 2018, the Paul Simpson-led Cornerstone Group acquired a majority stake in Barita, further building on the Humphries Lewin legacy by staking an even bigger claim in investment banking and asset management.
Today, Barita is the 5th largest company on the Jamaica Stock Exchange by market capitalization and the most prominent securities dealer by shareholders’ equity in Jamaica.
Humphries Lewin is widely acknowledged as one of the stalwarts of Jamaica’s financial services sector. Her visionary leadership and commitment to Barita continue to inspire the industry. Her deep commitment to the company she built never wavered. Even after selling her majority interest in Barita to the Cornerstone Group, Humphries Lewin became a shareholder in Cornerstone through her acquisition of a stake in the company in September 2021.
By becoming a Cornerstone shareholder, Rita has joined a distinguished group of accomplished businesspersons who sit atop several industries in Jamaica.
Commenting on the investment made by Rita, Karl Lewin, husband of Rita and former Managing Director of Barita Unit Trusts Management Company Limited, said “Seeing Cornerstone’s excellent performance with Barita so far and with the diversification, the investment offered, its interests in banking, and the expansion plans overseas, I am looking forward positively to seeing the results of this new investment in her portfolio. Rita and I are looking forward to keeping the partnership going with Cornerstone. With Rita now being a shareholder, we are interested in seeing what the future holds even beyond Barita.”
Humphries Lewin also offered up comments regarding the general leadership of the company under Cornerstone saying “Karl and I are very comfortable with Cornerstone, and we are quite impressed with how they have transformed Barita since taking over. I am so proud when I see Barita everywhere I go. I am especially satisfied with the continued and expanding work of the foundation which was always my passion.”
Paying tribute to Rita Humphries Lewin, President and C.E.O. of Cornerstone, Paul Simpson noted, “Rita has built this wonderful company with a strong legacy. It is important that that legacy is preserved. That ethos has guided Barita over its 45-year march to excellence and now forms the cornerstone of the mindset which is being exemplified by Barita’s next-generation leadership team.”
Building a business is never easy and the Cornerstone team, through numerous visits to the home of Rita and Karl over the last five years, have gleaned critical nuggets of wisdom which have served them and the business very well. The foregoing is exemplified in the Lewins’ response to how they contended with the numerous challenges they faced in breaking several glass ceilings throughout their career in business.
They explained, “In our time, we have had many supporters as well as many detractors who would have tried to thwart the success of the business. We therefore learned very early that there will always be detractors but how we dealt with it was just to ignore them and remain focused. We have asked Paul and his team to adopt a similar approach as resistance is a given once you have set out to challenge the status quo”.
The Barita 45 celebration activities will commence this summer, leading to the official anniversary on September 2. They will include:
● The launch of the Rita Humphries Lewin Scholarship which will, over the next few months, target ten awardees who are pursuing studies in early childhood education at a tertiary level institution in Jamaica;
● A ceremony to formally recognize Mrs Humphries-Lewin as Chairman Emeritus of the Board of Barita
● A church service to kick off the Barita 45 celebrations;
● Customer-oriented activities to include prizes and giveaways;
● A Barita 45 celebratory event for employees, customers and friends of the organization;
● A special agenda Barita 45 Annual General Meeting; and
● Anniversary themed products and promotions
