Two top partners of Proven Investments Limited, who have been assigned Cabinet positions in the new Government, have resigned as members of the management committee, and given up their seats on the board of subsidiary Proven Wealth Limited.
Peter Bunting and Mark Golding, who are both politically aligned to the People’s National Party, resigned from Proven on January 6, the same day they were sworn in as ministers of government in charge of national security and justice, respectively.
Bunting was chairman of Proven Wealth as well as Proven Investments’ management committee. Lisa Gomes succeeds him as chairman of Proven Wealth, while John Bell, former partner at PricewaterhouseCoopers, has also been invited to join the board.
Proven Wealth is the rebranded business of Guardian Asset Management Jamaica, whose portfolio Proven Investment acquired in 2011. Gomes was once the managing head of Guardian Asset Jamaica as an employee of the Guardian Holdings Group of Trinidad. She now works with Sandals Resorts International and the ATL Group as director of finance and planning.
Chris Bicknell, meantime, will now chair Proven Investments’ management committee.
“It is a bittersweet moment for us,” said Hugh Hart, chairman of Proven Investments, in a company release.
“While we certainly applaud their desire to serve the country for the greater good, we will miss their invaluable contribution to the continued growth and development of our company. We are confident, however, that we have enough depth to cover their absence,” Hart said.
Proven Wealth’s board now has seven directors, including Proven Wealth CEO Chorvelle Johnson, Proven Investment CEO Chris Williams, Gary Sinclair, Bicknell, and Johann Heavens.
“The board is diversified and strong … ,” said Williams, while expressing regret at Bunting and Golding’s departure.
Proven Investment was founded by Bunting, Golding, Sinclair and Williams, who were involved at different levels in the former investment bank Dehring Bunting and Golding.
Proven Investment is currently the only US dollar equity listed on the Jamaica Stock Exchange.
While Bunting and Golding will have no authority over the decisions of Proven, they remain shareholders with 11 per cent and three per cent, respectively, according to Williams.