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Barita boss resigns; demits role at Jamaica Stock Exchange

Barita announces several leadership changes

The Barita Group has announced several changes to its leadership team, chief among them being the resignation of its Managing Director and Company Secretary, Ian McNaughton, effective tomorrow, December 24.

Ian McNaughton will demit his roles at Barita and the Jamaica Stock Exchange tomorrow, December 24. (Photo: barita.com)

Additionally, McNaughton also submitted his resignation from the Board of the Jamaica Stock Exchange where he served as Chairman. He will also demit that office on December 24.

McNaughton joined Barita as financial controller in 2008 and also served as General Manager from 2009 to the start of his most recent post beginning 2013. He leaves to pursue other interests but will remain accessible to the Board through to the end of the financial year in September 2020, said the company in a statement.

Barita General Manager Paula Barclay will take on the role of Managing Director.
(Photo: barita.com)

McNaughton led the transition of Barita’s ownership by Cornerstone Group in August 2018, as well as the company’s leadership succession.

He will be replaced by Paula Barclay, who was appointed General Manager earlier this year. Barclay has experience in banking and investment and has served in several executive roles at the GraceKennedy Group including General Manager of First Global Bank.

McNaughton will also leave his post as Chairman of the Barita board tomorrow.

McNaughton’s role of Company Secretary will be taken over by Malindo Wallace, Group Legal Counsel and Chief Compliance Office at Barita. Wallace will also assume the post of Company Secretary for Barita Unit Trusts Unit Trusts Management Company. She assumes both positions tomorrow, December24.

What’s more, there have been two appointments to the Board of Directors; Jason Chambers, Managing Director of Barita Unit Trusts Management (BUTM) and attorney Matthew Hogarth will join the team on December 24 and January 2, 2020 respectively.

Barita was taken over by the Cronerstone Group in 2018.

Other appointments made within the Group’s leadership team include Dane Brodber becoming Chief Risk Officer of the Cornerstone Group (which owns Barita) on November 1; Cornerstone Group’s Chief Financial Officer Gavin Jordan becomes a BUTM director on January 2020; Chief Operating Officer of Cornerstone Weldon Maddan, will assume senior oversight of Strategic Business Units’s operations and Stephanie Murdock joined the team as Senior Human Resource Executive in October.