Michael Lee-Chin
Michael Lee-Chin was born in Port Antonio, Jamaica to black and Chinese Jamaicans. When Lee-Chin was 7 his mother married Vincent Chen. He attended Titchfield High School between 1962 and 69.
In 1970 he earned a scholarship to study Civil Engineering at McMaster University in Canada. He worked briefly as a road engineer for the Jamaican Government but unable to find a job in his qualified field he returned to Canada.
He had various jobs until he secured a loan in 1983 for C$500,000 from the Continental Bank of Canada and purchased a stake in Mackenzie Financial Group and formed Kicks Athletics with Andrew Gayle which was worth C$3.5 million by 1987.
With these proceeds he bought a Kitchener based company called the Advantage Investment Council for C$200,000. He renamed the company AIC and developed it into a fund that today controls C$6 billion, with hundreds of investors.
He continued to form and acquire companies that deals in investments, securities and insurance through the Berkshire Group of Companies which by 2007 amassed C$12 billion in assets. On October 5, 2006, Lee-Chin announced his resignation fron AIC and was replaced by Johnathan Wellum, AIC's Chief Investment Officer. He remains as AIC's Executive Chairman.
In 2000, Lee-Chin saw potential in Jamaica which was experiencing economic difficulties and decided to invest in his native country. He bought 75 percent of the National Commercial Bank of Jamaica for J$6 billion from the Jamaican Government.
In 2004 he set up the AIC Caribbean Fund with the intention of investing in the entire Caribbean region. The aim was to raise US$1 billion in order to make investments in businesses located in the CARICOM countries.
Lee-Chin guided Portland Holdings through a number of acquisitions in the Caribbean. In the tourism sector he acquired Trident Villas and Spa, Reggae Beach and Blue Lagoon. In the health care industry Portland Holdings acquired Medical Associates Ltd in 2006.
Lee-Chin has received many awards and accolades such as:
Being on the Forbes Billionaire's List since 2001. In 2006 he was placed 365th.
In 2002 he received the Harry Jerome Award for Business Leader of the Decade.
He has also made donations to many charities and causes, and was awarded an Honorary degree from McMaster University, An honorary Doctorate of Laws degree from the University of Toronto, 2007 and from the University of the West Indies- Mona Campus in 2008.
Lee-Chin also owns or operates various businesses, a few are:
AIC Limited
CVM Television
A range of Cable Companies
National Commercial Bank
Radio Jamaica, among many more.
Lee-Chin is separated from his wife of 23 years, Vera Lee-Chin who he married in 1974, with whom he has three children. He presently lives with Sonya Hamilton and their twin daughters in Hamilton, Ontario.
Michael Lee-Chin was born in Port Antonio, Jamaica to black and Chinese Jamaicans. When Lee-Chin was 7 his mother married Vincent Chen. He attended Titchfield High School between 1962 and 69.In 1970 he earned a scholarship to study Civil Engineering at McMaster University in Canada. He worked briefly as a road engineer for the Jamaican Government but unable to find a job in his qualified field he returned to Canada.
He had various jobs until he secured a loan in 1983 for C$500,000 from the Continental Bank of Canada and purchased a stake in Mackenzie Financial Group and formed Kicks Athletics with Andrew Gayle which was worth C$3.5 million by 1987.
With these proceeds he bought a Kitchener based company called the Advantage Investment Council for C$200,000. He renamed the company AIC and developed it into a fund that today controls C$6 billion, with hundreds of investors.
He continued to form and acquire companies that deals in investments, securities and insurance through the Berkshire Group of Companies which by 2007 amassed C$12 billion in assets. On October 5, 2006, Lee-Chin announced his resignation fron AIC and was replaced by Johnathan Wellum, AIC's Chief Investment Officer. He remains as AIC's Executive Chairman.
In 2000, Lee-Chin saw potential in Jamaica which was experiencing economic difficulties and decided to invest in his native country. He bought 75 percent of the National Commercial Bank of Jamaica for J$6 billion from the Jamaican Government.
In 2004 he set up the AIC Caribbean Fund with the intention of investing in the entire Caribbean region. The aim was to raise US$1 billion in order to make investments in businesses located in the CARICOM countries.
Lee-Chin guided Portland Holdings through a number of acquisitions in the Caribbean. In the tourism sector he acquired Trident Villas and Spa, Reggae Beach and Blue Lagoon. In the health care industry Portland Holdings acquired Medical Associates Ltd in 2006.
Lee-Chin has received many awards and accolades such as:
Being on the Forbes Billionaire's List since 2001. In 2006 he was placed 365th.
In 2002 he received the Harry Jerome Award for Business Leader of the Decade.
He has also made donations to many charities and causes, and was awarded an Honorary degree from McMaster University, An honorary Doctorate of Laws degree from the University of Toronto, 2007 and from the University of the West Indies- Mona Campus in 2008.
Lee-Chin also owns or operates various businesses, a few are:
AIC Limited
CVM Television
A range of Cable Companies
National Commercial Bank
Radio Jamaica, among many more.
Lee-Chin is separated from his wife of 23 years, Vera Lee-Chin who he married in 1974, with whom he has three children. He presently lives with Sonya Hamilton and their twin daughters in Hamilton, Ontario.
Last edited by Admin on Mon 12 Apr 2010 - 20:08; edited 1 time in total
