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Bahamas Financial Services Board Visits Europe

The Bahamas delegation at the Bahamas Landfall: Destination London event

Nassau, The Bahamas - The Bahamas Financial Services Board (BFSB) has completed a busy eight day schedule of events and meetings with private banks, independent asset managers, lawyers, accountants and family offices in Switzerland and the United Kingdom.

The tour of major financial centres began in Zurich, continued in Geneva and concluded in London each highlighted by a Bahamas Landfall event, BFSB's highly successful platform for conveying The Bahamas Advantage for private wealth management, asset management, residency and international business.

BFSB CEO and Executive Director Aliya Allen said "We were overwhelmed by the high level of interest in The Bahamas, especially in our Bahamas Executive Entity (BEE) and SMART Fund products. It indicates that the time and resources spent in developing new products that are innovative and client driven were worth the considerable effort."

Addressing the London event, Ms. Allen said "The Bahamas understands that the new global economic reality requires consistent commitment to improvement for the benefit of owners of capital.  And we are doing so in a manner that is informed by our long history and expertise in this industry.  We think that this adaptive and innovative mindset has been the key to our success in the past and will be the key to our continued success in the future."  

Minister of Financial Services, The Hon. Ryan Pinder, M.P. attended the BFSB event in London, joining a wide range of representatives from BFSB member firms. 117 international persons and 27 Bahamas delegates attended the event in London, making it one of the best attended international events in BFSB history.

"The financial services sector is the second biggest contributor to the gross domestic product of The Bahamas and the government offers unequivocal support to the industry," said Minister Pinder. "This is an important event to showcase what The Bahamas has to offer in terms of investment opportunities and financial services.

"The Bahamas has a history of coming up with progressive and innovative products, such as SMART Funds and the International Arbitration Act, which is an important arm to a growing and thriving financial services industry." 

Minister Pinder continued: "We believe that we should be the first name off your lips when you are advising your international clients on how to manage their assets."

The Bahamas delegation at the Landfall event at London's Mandarin Oriental Hotel also included the Bahamas Maritime Authority's Chairman Ian Fair and its Director and CEO, Commodore Davy Rolle. The High Commissioner of The Bahamas to London, Mr. Paul Farquharson was also in attendance. The event was even reported on live in the Society of Trust Estate Practitioner's (STEP) Twitter news feed.

In Switzerland more than 60 Zurich based financial professionals and 70 plus individuals from Geneva attended BFSB's Bahamas Landfall events. Fourteen Bahamas-based professionals participated in the Zurich event and 20 were in Geneva to help convey The Bahamas Advantage message. The Landfall event in Zurich took place on June18th at the Widder Hotel and the Geneva event took place on June 19th at the Four Seasons Hotel des Bergues Geneva.

In Geneva, Ms. Allen, Heather Thompson from Higgs & Johnson  and Andrew Law from International Protector Group also spoke about recent amendments to the Trustee Act and the Bahamas Executive Entity (BEE) on a panel at  the 26th annual Transcontinental Trust Conference,  the oldest conference of its kind in Europe.

Ms. Michelle Jacqueline Degoumois, Honorary Consul of the Commonwealth of The Bahamas to Switzerland, also attended the Zurich presentations.

Sponsors  of the Bahamas Landfall events included  Bahamas Maritime Authority; BSI Overseas (Bahamas) Ltd.; Butterfield Bank (Bahamas) Limited; Credit Suisse AG Nassau Branch; Dupuch Publications; Deltec Bank & Trust; Graham, Thompson & Co.; Genesis Fund Services Limited;  Higgs & Johnson; International Protector Group; Julius Baer Bank & Trust (Bahamas) Ltd.; KPMG ; RBC Wealth Management; Societe Generale Private Banking; and Scotia Private Client Group. CEO Allen said the Bahamas delegation and Briefing participants all appreciated the Burns House sponsorship of "Kalik", which certainly brought a very Bahamian flavour to the London Reception.

(L) The Hon Ryan Pinder, Minister of Financial Services, called on H.E. Mr Paul H Farquharson QPM at Bahamas House on Monday, 25 June 2012.

(R) From left: Commodore Davy Rolle, Director and CEO, Bahamas Maritime Authority; Ian Fair, Chairman, Bahamas Maritime Authority; Aliya Allen, CEO & Executive Director, Bahamas Financial Services Board; The Hon. Ryan Pinder, Minister of Financial Services; Paul Winder, Chairman, Bahamas Financial Services Board.