Leaders in investment banking and entrepreneurship were honoured by Memorial University’s business faculty May 5.

The Faculty of Business Administration handed out its top awards to Derek Murphy, formerly of PSP Investments, and Jeff LeDrew of Jumping Bean Coffee – Eco2 Roast at its annual Partners Celebration at the Sheraton Hotel Newfoundland in St. John’s.

Mr. Murphy, former senior vice-president, head of private equity at PSP Investments in Montreal, QC received the 2015 Alumni Honour Award. Mr. LeDrew, founder and chief executive officer of Jumping Bean in St. John’s, won the P.J. Gardiner 2015 Newfoundland and Labrador Entrepreneur of the Year Award.

“I am delighted and honoured to receive this award and the recognition,” said Mr. Murphy. “My education at Memorial’s business faculty was the cornerstone of my career. Newfoundland and Labrador has an abundance of natural resources but its youth is its real future."

Mr. Murphy earned a bachelor of commerce degree from Memorial in 1979 before earning a master of business administration from the University of Western Ontario in 1986. After receiving his undergraduate degree, he worked with Esso Resources Canada Limited and Petro-Canada Inc. in Calgary and the Bank of Montreal in Toronto, Ont.

He began his investment banking career as vice-president of mergers and acquisitions with J.P. Morgan & Co. Inc. in New York and Toronto from 1986-92. He also worked for the Swiss Bank Corporation Warburg and Gordon Private Client Corporation/Gordon Capital Corporation, both in Toronto.

In 1997 he founded Barnridge Inc., a private investment and advisory company, where he was president and chief executive officer. In 2004 he joined PSP Investments.

Mr. Murphy is a strong supporter of the business faculty and has been a member of its advisory board since 2011. 

“It has been my pleasure to be involved with Memorial’s business faculty. I have lived and worked around the world but Newfoundland is my home and I hope in some small way to assist my home by contributing to the business faculty,” he said. 

Mr. LeDrew earned a bachelor of engineering degree from Memorial in 1997 and worked locally and internationally in the telecommunications industry before starting Jumping Bean Coffee Company in 2005.

Inspired by his involvement with the Rotary Club, Mr. LeDrew conceived of a fundraiser for the group that involved locally-roasted coffee beans. It was such a success that he realized the idea had business potential and Jumping Bean Coffee Company was born. The company uses organic and fair-trade certified coffee beans from single origin farmers and roasts them here in the province using a unique Eco2 roast process, which saves a pound of carbon per pound of beans. Eighty-five per cent of the emissions from Jumping Bean products are removed from each pound of roasted beans.

“Jumping Bean was founded on the idea that we could do better – better socially, better environmentally and better in terms of taste,” said Mr. LeDrew. “My background as an engineer allowed me to create a new roasting process called the Eco2 roast, and we roast our beans here in Newfoundland and Labrador so they’re fresher than any other cup you can get in the province. We like to say Jumping Bean was formed to engineer the perfect cup.”

As a business owner, Mr. LeDrew has contributed to the provincial economy by creating nearly 40 jobs in manufacturing and food service in each year of Jumping Bean’s existence. He has also developed products, including Screech Coffee and Mummers Blend, which support the culture of Newfoundland and Labrador. The company has opened wholesale offices in Ontario and Nova Scotia and expects to franchise up to 20 locations across Atlantic Canada within the next two years.

“I am honoured by this award and pleased to thank Memorial's business faculty for thinking of me. It is indeed a pleasure to be recognized as part of our province's long tradition of innovation and entrepreneurship, and I look forward to more years of growth and peer support in this community,” said Mr. LeDrew.

Partners is the Faculty of Business Administration’s annual celebration of the business community, bringing together members of the faculty and business community as well as students and alumni to pay tribute to those who have achieved excellence in business while using their skills and expertise to contribute to their peers and communities.

“Derek Murphy and Jeff LeDrew are excellent examples of the kind of business leaders we hope to pay tribute to with these awards,” said Dr. Wilfred Zerbe, dean of the business faculty. “They are innovative, visionary and committed to excellence in their endeavours, and we welcome them to the list of esteemed business leaders who have won our awards. Above all, Mr. Murphy and Mr. LeDrew are excellent ambassadors for Memorial University and their success is an inspiration to us all.”