Our History
CORNERSTONE TRUST & MERCHANT BANK LIMITED was incorporated in 1970 as Solnar Limited with its activities geared to providing deposit-taking, lending and leasing facilities to clients of the law firm Myers Fletcher & Gordon. In 1992 the shareholders decided to position the company as a full-fledged merchant bank to take advantage of an expanding financial services market. MF&G Trust & Finance became the new name, highlighting the strong and enviable ties with the law firm. This allowed the company to emerge as a separate entity with its own reputation in the financial marketplace. The Company’s assets, which were then less than J$200 million, have increased in the intervening period, confirming the wisdom of this decision and the increasing client confidence in the Company.
Cornerstone Trust and Merchant Bank was licensed to manage trusts and administer estates in 1993. It became an approved foreign exchange dealer in 1997 and has since garnered significant foreign currency deposits, loans and leases. In 2003, the strategic focus was modified to capitalize on new banking regulations and as such the advisory, trading and portfolio management services of the bank were divested to a new sister company in June 2003.
The company is subject to detailed monitoring and operational audits by the Bank of Jamaica and must conform with the various requirements of the Banking Services Act (2014) and Regulations thereunder. The company’s operations are also regulated by the Deposit Insurance Act and all other regulations governing the operations of local financial institutions.
OUR AIM
Cornerstone Trust and Merchant Bank has earned a reputation for the highly personalized service that it offers to its clients. We aim to serve our clients well and to make them proud to be associated with us. We believe that in doing so we will also do well.
OUR APPROACH: MEETING YOUR UNIQUE REQUIREMENTS
- We place a high premium on safety and will always seek to protect your interests.
- We will provide you with convenient, professional and personalized service.
- We will work with you to identify products and services that are suitable for your needs.
- We listen to your concerns, help you to analyze your needs and guide you to the most appropriate means of fulfilling your financial objectives.
Directors
LYDEN HEAVEN
Chairman
LYDEN HEAVEN is the owner and Chief Executive Officer of TM&T Associates. He is an Electrical Engineer/Businessman who, prior to establishing his own business, worked with Alcan Jamaica Limited as Senior Projects Engineer and Citrad Limited as a Consulting Engineer. He holds a Bachelor of Science degree in Electrical Engineering and Electrical Mathematics from the University of Reading (UK). He is a Chartered Engineer and a member of the Jamaica Institute of Engineers.
ROBERT DRUMMOND
Deputy Chairman
ROBERT DRUMMOND is a Management Consultant with over 25 years of experience in various industries to include the financial services. He has worked at several prominent companies both locally and internationally. Recognized as a strategy implementation specialist, Mr. Drummond has contributed significantly through his research and publications on a wide range of topics including Service Delivery Systems, Managing Resistance to Change and Leadership and Organizational Turnarounds. He holds a Master of Business Administration from the Harvard University Graduate School of Business Administration.
MARK MYERS
Director
An astute businessman, MARK MYERS is the Managing Director of Restaurants of Jamaica Limited. Mr. Myers holds a Bachelor of Science degree in Operations, Transportation and Distribution management from Syracuse University’s School of Management. A believer in contributing to the development of his country, he has served on several boards to include the Bank of Jamaica, Jamaica Trade and Invest and the Jamaica Observer.
PAUL SIMPSON, CD
Director
Mr. Simpson is the Founder, President and CEO of Cornerstone. He is an Investment Banker with over 13 years experience having worked in the Caribbean, the United States and Europe in various roles. He holds a double major in Computer Science and Geology and an MBA from the University of the West Indies. He has served on various government, private and charity boards including the Youth Arm of UNESCO, YMCA and the Jamaica Tourist Board where he was the Chairman of the Finance and Audit Committee.
GAVIN JORDAN (MSc., CPA)
Director
Gavin has a wealth of financial expertise and experience. Prior to his role at Cornerstone, he was the CFO for GraceKennedy Foods (USA) and Divisional CFO, GK Foods before that. At GK Foods, Gavin provided financial leadership to the subsidiaries in the Foods Division both locally and internationally; supported the development of the division’s strategy and the evaluation of various strategic initiatives. Gavin was also the Finance Director and Company Secretary of Carreras and CFO of First Global Bank, where he was ultimately responsible for the day to day operations of the accounting and financial reporting functions. Gavin holds a Bachelor of Science degree in Accounting and Economics from the University of the West Indies, a Master of Science degree in Financial Management from the University of London, and is also a Certified Public Accountant. He is a member of the American Institute of the Certified Public Accountants and the Colorado State Board of Accountancy.
Managers
Horace Stephens
Head, Credit
Horace Stephens is the former Senior Corporate Client Relationship Manager of The Bank of Nova Scotia Jamaica Limited where he had responsibility for strategic growth and development for the Bank’s largest deposit and credit portfolios. He has 27 years of experience in the Banking sector spanning Retail Banking, Loan Recovery and Corporate & Commercial Banking. A graduate of The Mico Teacher’s College (now The Mico University College), Horace spent eight years in the classroom before transitioning to a career in the financial sector. He is a Fellow of the Institute of Canadian Bankers (FICB).
Carlton Stewart
Head, Sales & Service
Carlton is a service driven, financial service specialist with over 18 years’ experience in the financial sector. He has spent over 11 years in the Credit Union Movement, and 7 years in the commercial banking and micro financing sector. Carlton has held roles spanning from Country Manager of the Caribbean’s Largest Micro Financing Company, Business Banking Executive, Business Development Officer, and extensive experiences in Banking, Marketing and Sales Management. Carlton holds a B.Sc. in Management Information Systems and a M.Sc. in Marketing and Data Analytics from the University of the West Indies, Mona.
Kirk Prendergast
Head, Payments & Transaction Services
With over 17 years’ experience in the Financial and Information Technology industries, Kirk has a proven track record managing large multidisciplinary teams, in innovative products and services. During his tenure in the financial sector Kirk has held several positions including Product & Portfolio Manager, Project Manager and Technical Business Analyst & Application Architect. Kirk holds a BSc. Of Business Administration in Computer Information Systems from Florida Atlantic University and a Msc in Information Systems from University of Toronto.
Stefano D’ambrosio
Director, Digital Strategy & Innovation
An entrepreneur with over 10 years’ experience translating business needs to tangible technological solutions, Stefano is leading innovation efforts at CTMB. He is a former CTO in FinTech start-ups and a Director for Digital Channels solutions for the Financial Services Industry. Stefano holds an MBA from Kellogg School of Management and a BSc. in Computer Engineering from Universidad Simón Bolivar.
Dayton Lawton
Core Banking Products & Services Manager
Dayton is an IT industry expert with more than 15 years of experience in Finance, Telecommunications and Media. He has led project teams in Jamaica, the Dominican Republic and Trinidad and Tobago, successfully implementing a variety of ICT solutions across the region. Mr. Lawton is the Core Banking Products & Services Manager and will be leading the company’s efforts to implement a state of-the-art core banking system. Dayton holds a Masters in Business Administration from the University of the West Indies, Mona School of Business & Management. He is a certified ScrumMaster and also holds certifications from MIT, The Wharton School and the University of London.
Merchant Banking
CALL US TODAY
(876) 618-3455