Mark Myers, Principal Director of Cornerstone Financial Holdings Limited and Chairman of Barita Investments Limited
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Halshane Burke reports
The Directors of Cornerstone Financial Holdings Limited have announced that the company has received regulatory clearance to fully acquire the shares of JN Fund Managers Limited and has increased its partnership with Proven Management Limited.
The announcements were made on Tuesday.
Mark Myers, Principal Director of Cornerstone Financial Holdings Limited and Chairman of Barita Investments Limited, announced that Barita has received the required regulatory no-objection in respect of its proposed acquisition of 100% of the issued share capital of JN Fund Managers Limited.
Barita, which was founded in 1977, is a full-service investment banking and asset management firm listed on the Jamaica Stock Exchange.
JNFM, founded in 1996, is a full-service investment banking and asset management firm owned by the Jamaica National Group, one of the largest and oldest mutually owned financial services groups in the Caribbean.
Upon completion, the transaction is expected to increase Barita's assets under management to more than J$500 billion, as JNFM is integrated into Barita's operating platform, while enhancing product diversity, efficiency and customer service for clients of the combined entity.
Mr. Myers says the acquisition further diversifies Barita's business model through meaningfully broadening its customer base and enhancing its institutional asset management.
He says this will enhance its income generating capabilities, particularly in pension fund management and long-term mandates, and is poised to further strengthen its position as one of Jamaica's leading investment managers.
Cornerstone also confirmed that, in December 2025, it entered into a strategic partnership with Proven Management Limited, the investment manager of Proven Group Limited.
Proven has a diversified portfolio of regional and international investments focused primarily on its wholly owned subsidiaries in the financial sector, with a long-term investment horizon, complemented by investments in real estate and private capital.
Holdings include banking subsidiaries in St. Lucia & the Cayman Islands, a securities dealer in Jamaica and the largest shareholding in the JMMB Group Limited (20%), which is listed on the JSE.
Mr. Myers says the partnership reflects a shared commitment to disciplined growth, strong governance, and long-term value creation, while preserving the independence and stewardship of both groups.
According to him, Cornerstone, combined with the Proven platform now manages the equivalent of approximately J$1 trillion in assets under management and invested capital.
These span banking, investment banking, asset management, real estate development, real sector investments, and financial technology, thereby providing a strong foundation for scale, resilience, and expansion across Jamaica, Barbados, Cayman, Bermuda, British Virgin Islands, the Bahamas, St. Lucia, the United States of America and Canada.
Today, the Group's platform spans five core business verticals, delivered through its subsidiaries and strategic partnership; Investment Banking, Alternative Investments and Wealth & Asset Management, Banking, Financial Technology and Real Estate Development.
According to Myers, through its USA-based company, CFHL USA, Cornerstone has development oversight for over 2,000 acres of prime ocean front real estate in several strategic locations along the island's tourism belt.
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