Rita Humphries-Lewin

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Rita Humphries-Lewin CD (born 1936) [1] is a Jamaican retired stockbroker and businesswoman. [2] She was the first woman to chair the Jamaica Stock Exchange and the first woman to chair a stock exchange in the Caribbean. [3] She founded Barita Investments Limited in 1977, which was the oldest stock brokerage firm in Jamaica by the time she retired in 2021. [4]

Contents

Early life

Humphries-Lewin was born in 1936. [1] [5] She attended the Immaculate Conception High School. Upon graduating, she joined the Gleaner Company [6] as a secretary. In 1962, while working as a secretary for the local branch of Canadian stock trading firm Annett & Company, she responded to a solicitation for new traders. [7] The company required all new traders to spend six months as trainees at the head office in Canada, and she saw that male candidates did not want to "go back to school". [5] After her training, Humphries-Lewin returned to Jamaica and completed the Canadian Securities Course. In 1967, she became a certified stockbroker. [8]

When the Jamaica Stock Exchange (JSE) opened in 1969, Humphries-Lewin was Annett's designated trader on the exchange floor. [7] After Annett went out of business in 1972, [5] she moved to the public sector, helping to establish the Jamaica Industrial Developmental Corporation and the Small Business Development Centre. [6] [8]

Career

After several years in the public sector, [6] Humphries-Lewin wanted to return to the private sector. Her former colleagues from Annett had joined insurance companies [5] as investment managers. However, it was difficult to trade on the JSE as many stock brokerage firms had folded [9] due to Jamaica's economic problems. [6] This left Humphries-Lewin with the chance to start her own brokerage to fill in the gap. [9] She founded Barita Investments in 1977 [3] with $10,000 of her own money. The company was named for herself and her sister Barbara. Besides Humphries-Lewin, the sole other initial employee was a messenger to handle deliveries. [9]

Humphries-Lewin was chair of the Jamaica Stock Exchange in 1984 and again from 1995 to 2000. During her tenure, she led the establishment of the Jamaica Central Securities Depository Limited (JCSD) in 1998 and the development of electronic trading in 2000. [4] [10] She was chair of the Development Bank of Jamaica from 2001 to 2006, participating in the development of Highway 2000 and a planned resort in Trelawny Parish. [6]

She led Barita Investments to its initial public offering on the JSE in 2010. [11] She entered talks to sell a controlling stake in the company around 2017; as the largest shareholder, she owned 76% of the company. [12] In 2018, Cornerstone Investments Holdings Limited paid $3B for a 75% stake from her and a minority shareholder. As part of the deal, Humphries-Lewin agreed to hold at least 2% of the company for two years afterward, and remain on the company's board of directors. [13] She announced her retirement from Barita in January 2021. [2]

Recognition

In 2000 she received the Order of Distinction, Commander Class from the Government of Jamaica for her contributions to the country's financial industry. She also received an honorary doctorate in educational leadership from Mico University College for her contribution to early childhood development. [4]

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References

  1. 1 2 Kelly, Daviot (30 October 2015). "Humphries-Lewin not excited about retiring". Jamaica Gleaner . Retrieved 31 July 2021.
  2. 1 2 "Barita Investments Limited Announces the Retirement and Resignation of Rita Humphries-Lewin, C.D." McKoysNews. 1 February 2021. Retrieved 8 January 2022.
  3. 1 2 "Trailblazing stockbroker, Barita founder Rita Humphries-Lewin retires | Loop Jamaica". Loop News. Retrieved 8 January 2022.
  4. 1 2 3 Pate, Durrant (29 January 2021). "Rita Humphries-Lewin leaves Barita". Jamaica Observer . Retrieved 8 January 2022.
  5. 1 2 3 4 "The Gleaner Honour Awards | Rita Humphries-Lewin - A lifetime of success". jamaica-gleaner.com. 26 January 2017. Retrieved 6 January 2022.
  6. 1 2 3 4 5 "Phenomenal Women". old.jamaica-gleaner.com. 12 May 2008. Retrieved 31 July 2021.
  7. 1 2 "The road to stockbroking - Rita Humphries-Lewin". jamaica-gleaner.com. 7 April 2014. Retrieved 6 January 2022.
  8. 1 2 Ellington, Barbara (10 September 2012). "Barita's Boss Lady - No stopping her now: RITA Humphries-Lewin". jamaica-gleaner.com. Retrieved 8 January 2022.
  9. 1 2 3 Medley, Huntley (13 November 2009). "$10,000 investment grows into billion-dollar business". old.jamaica-gleaner.com. Retrieved 8 January 2022.
  10. ↑ "Top 50 Business Women 2016". Businessuite: 12. 2016. eISSN   0799-4427 – via Issuu.
  11. ↑ Collinder, Avia (17 January 2010). "Oldest stockbrokerage lists on JSE". jamaica-gleaner.com. Retrieved 14 January 2022.
  12. ↑ Jackson, Steven (9 August 2017). "Barita founder to bow out after transition". jamaica-gleaner.com. Retrieved 14 January 2022.
  13. ↑ Jackson, Steven (19 July 2018). "Cornerstone makes $3b bid for Barita". jamaica-gleaner.com. Retrieved 14 January 2022.
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