Barita Investments has announced that its parent company, the Cornerstone Group, is undergoing a corporate reorganisation to ensure compliance with the Banking Services Act 2014.
The reorganisation will be executed through a court-sanctioned composite scheme of arrangement.
Upon completion, Cornerstone Trust & Merchant Bank, Barita Investments, and Barita's wholly-owned subsidiary, Barita Unit Trusts Management Company, will become subsidiaries of Barita Financial Group Limited, the proposed financial holding company.
As part of the process, Barita's shareholders are invited to an in-person meeting scheduled for Monday, January 20 at the Spanish Court Hotel in New Kingston.
This move is expected to enhance regulatory compliance and streamline the corporate structure, strengthening the group's position in the financial sector.
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