History Of Founder

In 2002, Portland’s interests expanded internationally with the acquisition of National Commercial Bank Jamaica Limited (NCB) and its subsidiaries. At the time of purchase, Michael deployed a team with a mandate to improve employee morale, increase customer confidence and modernize the bank’s IT infrastructure. Under Michael’s stewardship, NCB is now the largest bank in Jamaica with cumulative profits of US$1.45 billion from 2004 to 2017. NCB stands today as Jamaica’s largest financial services provider with 37 locations, over 2,500 employees, and offices in Trinidad & Tobago, Barbados, the Cayman Islands, and the United Kingdom.

In May 2016, NCB acquired 29.99% shareholding in Guardian Holdings Limited (GHL), the leading insurer in the Caribbean region. GHL subsidiaries include life insurers, health and pension insurers, brokerage services, property and casualty insurers, and insurance brokerage services in Trinidad & Tobago, Curacao, Aruba, the Netherlands, and Jamaica.

In 2005, Portland partnered with Risley Group to form Columbus International Inc. (Columbus), a diversified telecommunications company whose core operating business is providing cable television services, high speed internet access, digital telephone and internet infrastructure services (retail) and the development of an undersea fiber optic cable network as well as the sale and lease of the telecom capacity provided by the network (wholesale). Columbus operates in 22 countries throughout the Caribbean and Latin America. In 2015 Cable & Wireless Communications, Plc (C&W) acquired Columbus. C&W was acquired by Liberty Global in 2016. Michael’s companies hold investments in Liberty Global and its subsidiaries.

Michael has guided Portland through a number of acquisitions in the Caribbean. Among them: the Trident Hotel, Trident Castle, Reggae Beach, and Blue Lagoon, all located in Jamaica.

Michael, along with the Portland Private Equity team, currently manage the Caribbean Basin’s largest private equity vehicle, AIC Caribbean Fund (ACF). ACF is a US$225 million, 2007 vintage growth equity fund. Portland Private Equity also manages the Portland Caribbean Fund II (PCF II) which had a first closing of US$100 million of capital commitments in July 2014 and has a target size of US$250 million. Limited Partners of PCF II include: the private sector arm of the World Bank, European institutional investors, Export Development Canada and other well-known institutional investors. ACF and PCF II invest in key sectors such as telecommunications, financial services and energy generation.

In July 2016, Portland JSX Limited (PJX) had the largest initial public offering (IPO) of ordinary shares ever on the Jamaica Stock Exchange. The IPO provided an exposure that is new to the Jamaican marketplace, as investors were able to diversify their investment portfolio across country, sector and currency. PJX is managed by the Portland Private Equity Team and is a limited partner of PCF II.

Among his many personal accomplishments, Michael has received the Doctor of Laws degree from a number of distinguished universities including: McMaster University, University of Toronto, Northern Caribbean University, Wilfrid Laurier University, the University of West Indies, and York University.

In 2008, Michael was awarded the Order of Jamaica, one of the country’s highest national honours for significant contributions in business and philanthropy.

In 2010, Michael was invited to join the Board of the Trust for the Americas, a dynamic development institution affiliated with the Organization of American States (OAS). The OAS is an organization that, with 35 member countries, facilitates development, security, human rights, democracy and prosperity throughout the Western Hemisphere.

From 2011-2016, Michael held the position of Chancellor of Wilfrid Laurier University in Waterloo, Ontario, Canada.
In 2013 the Government of Ontario awarded Michael with the Queen Elizabeth II Diamond Jubilee Medal and, in 2017 he was appointed to the Order of Ontario, the province’s highest honour, recognizing individuals whose exceptional achievements have left a lasting legacy in the province, in Canada, and beyond.

In 2016, Michael was appointed Chair of the Government of Jamaica’s newly established Economic Growth Council (EGC), in an effort to bolster economic development. Michael is tasked with leading a team from the private and public sectors, to advise the Government of Jamaica on the adoption of a framework of growth initiatives.