The Bahamas Investor

...hievement award At the end of 2007, T Baswell Donaldson, CBE, received the Financial Services Industry Lifetime Achievement Award in recognition of his sustained, outstanding contribution to the growth and development of the Bahamian financial services industry. The award was presented during the seventh Annual Financial Services Excellence Awards banquet in October. Wendy Warren, Bahamas Financial Services Board (BFSB) CEO and executive director,......

...re currently enjoying the largest wealth transfer exchange in history with financial services being the fastest growing major industry on the planet, forecast to triple in size over the next 15 years. Revenue derived from financial services comprises 10 per cent of the global gross domestic product (GDP) and it is The Bahamas’ second largest industry, after tourism, accounting for 15-20 per cent of the country’s GDP. According to figures released......

...t years, the drastic impact of the financial crisis has forced many in the financial services industry to re-focus on new markets. Home to expanding economies such as Brazil and Mexico, Latin America offers tremendous growth potential and exciting opportunities. The region’s HNWIs are financially savvy and demand timely, flexible and professional service. While trust is established over time, opportunities will gradually arise. Therefore, any fina......

...phere”—a mantle well-earned through 36 years of significant development in financial services since winning its independence in 1973. The financial services industry in The Bahamas now operates at a highly sophisticated level with a cadre of professional, qualified and trained staff. The innovative and proactive services provided to cater for and adapt to the changing needs of the financial industry were highlighted during the conference in Canada......

...ados on December 9, 2013. The meeting of Ministers with responsibility for financial services and key industry professionals was assembled to develop the strategic direction relating to the continued development of the industry, to develop recommendations relating to the governance structure of the regional initiative, and to determine the strategic engagement of the overseas countries and territories in the overall process. Chaired by Donville In......

...keeping requirements. The Bahamas has long established itself as a premier financial services centre and, in an effort to maintain its position, made a number of amendments to trust legislation in 2011, resulting in the passage of several pieces of legislation including the Trustee (Amendment) Act, 2011 and Rule Against Perpetuities Abolition Act, 2011 (RAPPA). These amendments represented major advancements, setting the jurisdiction apart from it......

...nd their lives very interesting. The bank offers me the possibility to mix financial services and relationships. Over the years, I can say that relationships that have started out on a professional level have developed into wonderful friendships. It is very important to gain the trust of a client over time, so that a purely professional relationship can turn into a friendship for life.” Iglesias started out in financial services as an apprentice w......

...ch Resort in Marsh Harbour, Abaco. This event, co-ordinated by the Bahamas Financial Services Board (BFSB) , will bring together key industry stakeholders to discuss current issues affecting the industry with the goal of developing strategies and plans to enhance the Bahamas’ position in the highly competitive and increasingly-regulated world of international financial services. IBFS 2016 has been structured to measure the effectiveness of recent......

...ality of service and reliability, particularly when dealing with banks and financial services. Having the ability to connect to global networks is extremely important, particularly because a lot of the financial institutions here are part of global businesses. Also, they look for a partner who can scale up according to the demands of their own businesses and they do expect world-class pricing. Q: With technology moving so fast how do you ensure th......

Hope Strachan, Minister of Financial Services, addressed a meeting of staff and partners of EY Bahamas at Atlantis Paradise Island , February 10, during which she outlined areas that will receive focused attention for the promotion, growth, and development of The Bahamas’ financial services sector. In her address, Minister Strachan described measures to increase financial service competitiveness that included facilitation of continuing education......

...re among the many government officials attending the opening. Deputy Prime Minister Philip Davis greets Financial Action Task Force president Vladimir Nechaev at the opening of the Plenary Meeting of the Caribbean Financial Action Task Force in Grand Bahama, November 20, 2013. Pictured: (from left) Nechaev; Attorney General Senator Allyson Maynard-Gibson; DPM Davis; and Minister of State for Investment Khaalis Rolle. (BIS Photo/Vandyke Hepburn) Go......

...ZNS Network news recently conducted an in-depth interview with Minister of Financial Services, Trade, industry and Immigration Elsworth Johnson.......

...enceforth be the standard of conduct to be expected of all participants in financial services.” The stakeholder meeting was hosted by the Office of the Attorney-General, in conjunction with the Bahamas Bar Association, as part of the 2018 Legislative Series. Attorney-General Bethel provided an overview of the FTRA during Session I. The Bahamas was found to be deficient in 22 of the 40 recommendations included in the FATF’s Mutual Evaluation for la......

...bert Minnis to once again take a seat at the Cabinet table. As Minister of Financial Services, Trade and Industry, and Immigration, Symonette says he is determined to bring about another transformation, this time in the nation’s second economic pillar of financial services. Symonette, juggling three major ministries, is focused on boosting growth in areas such as arbitration, financial services technology and improving the ease of doing business i......

...s and a streamlined economic permanent residency process will play an important role in enhancing our regional competitive advantage as well. Bio: Wendy Warren Wendy Warren is the chief executive officer and executive director of the Bahamas Financial Services Board (BFSB), an organization that represents and promotes the development of all sectors of the financial services industry. She is a chartered accountant and holds a Bachelor’s degree in a......