The Sagicor Financial Centre at Choc Estate has officially been renamed the Dr Stephen McNamara Financial Centre.
The renaming took place last week during an official unveiling ceremony, attended by officials and dignitaries from Saint Lucia and Barbados.
The renaming honours McNamara’s stewardship as chairman and 25 years of leadership and regional service.
Speaking at the ceremony, Andre Mousseau, Chief Executive Officer of Sagicor Financial, said that three years ago the company set a precedent by renaming its buildings after its most important contributors. This began with the old Mutual building in Barbados being renamed the Dodridge Miller Building for Economic Justice.
“When it was brought to my attention that we might do this for our Chairman, I was overwhelmed with enthusiasm, because of the importance that he has held for all of Sagicor,” Mousseau said. According to the CEO, the responses from those to whom the idea was presented included: “Well, of course that’s an excellent idea” and “Goodness gracious, haven’t you done it already.”
Mousseau noted that McNamara embodies the platonic ideal of a modern chairman of a highly complex organisation and was universally respected and liked.
Former group president and CEO of Sagicor Financial and UWI Chancellor Dodridge Miller reflected that McNamara joined Sagicor in 1997 when the company was a proud but modest one.
“What follows, over the next two and a half decades, was one of the most remarkable transformations in Caribbean corporate history and Dr McNamara stood at the centre of it all,” Miller stated.
He went on to point out several milestones under McNamara’s stewardship, which he said were previously considered unthinkable.
Among them: the historic demutualisation of the Barbados Mutual after 160 years, creating 40,000 new Caribbean shareholders, including more than 8,000 from the Eastern Caribbean. Additionally, Sagicor became the first Caribbean company listed on the main board of the London Stock Exchange. It made its strategic entry into the United States Insurance Market in 2005 and completed the groundbreaking International Bond placement in 2006. Sagicor also received the first-ever standard imports rating for a Caribbean company and ultimately merged with a line vest Capital, culminating in its listing on the Toronto Stock Exchange.
“These achievements would be impressive for a global company. For a Caribbean company, they were extraordinary. They required courage, clarity of purpose and governance of the highest order and Dr McNamara brought all three to the table,” Miller said.
Following the unveiling of his name etched on the front of the building, as well as a bust in his likeness, McNamara addressed the ceremony. He said he was overwhelmed by all that was going on in his name, adding that it meant a great deal to be surrounded and supported by colleagues, friends and family .
“I occasionally find myself at a loss for words, but never more so today after witnessing the unveiling, which I am still absorbing and which I accept are a phenomenal accolade, albeit somewhat overwhelming and perhaps even a trifle Trumpian,” he said in jest.
“I am deeply grateful for having this building, a place of purpose, trust, stability and one that serves the future of Saint Lucia, bearing my name. This is an honour I accept with pride and I wish to emphasise and recognise that no journey like mine is made alone,” he went on.
Prime Minister Philip J. Pierre, who was also in attendance, stated that McNamara had lived a truly exemplary life. He underscored his contributions to sports, community and public office.
“As a lawyer, his practice was marked by ethics, fairness and within the framework of justice and respect for the rule of law,” the Prime Minister said. He went on to point out that McNamara helped elevate tennis in Saint Lucia and developed several Saint Lucian players.
“Each sphere presents a different dimension of his character, yet together they present a portrait of a man who has given much to the island of Saint Lucia,” Pierre said. He went on to highlight the fact that McNamara earlier this year received the country’s second-highest honour, the Order of the Saint Lucia Cross. This, according to Pierre, was a deliberate acknowledgement of his dedication, leadership and unwavering commitment to advancing the causes that strengthen our society.
“Today, as we stand in recognition of his achievement, let us also be reminded that honouring such individuals is not merely ceremonial, it’s the reaffirmation of the values we hold dear as a people – service, excellence and devotion to country,” Pierre said.
