Early Life
Michael Lee-Chin was born in Port Antonio, Jamaica, on January 3, 1951. His parents were of African and Chinese-Jamaican descent. Lee-Chin's early life involved working various jobs, including landscaping at a hotel and working on a cruise ship. He attended Titchfield High School.
Rise to Success
Lee-Chin immigrated to Canada in 1970 to study civil engineering at McMaster University, graduating in 1974. After working briefly as a road engineer in Jamaica, he returned to Canada and began his career in finance. He worked as a financial advisor at the Investors Group, before becoming a regional manager at Regal Capital Planners. A pivotal moment was his 1983 investment in Mackenzie Financial Group stock. Lee-Chin acquired AIC Limited in 1987. Under his leadership, AIC grew into a multi-billion-dollar fund. He sold AIC's retail mutual fund business to Manulife in 2009.
Key Business Strategies
Lee-Chin's strategy involved strategic investments, particularly in financial companies. He focused on acquiring and holding profitable companies and building a diverse portfolio. Key investments included National Commercial Bank Jamaica (NCB), where he acquired a significant stake.
Philanthropy
Lee-Chin is a notable philanthropist. He pledged $30 million to the Royal Ontario Museum, leading to the creation of the Michael Lee-Chin Crystal. He also donated $10 million to the Rotman School of Management at the University of Toronto, establishing the Michael Lee-Chin Family Institute for Corporate Citizenship. Additional donations were made to the Joseph Brant Hospital Foundation and McMaster University.