Photo Caption – BFSB Directors (left to right): Gregory Cleare, Vice-Chairman, Paul Moss, Geoffrey Hooper, Pamela Klonaris, John Delaney, and Barry J. Malcolm, BFSB’s Executive Director.


The Annual General Meeting of the Bahamas Financial Services Board was held on Wednesday, October 4, 2000.

The Agenda included presentation of the Annual and Financial Reports, as well as Election of Directors for the year 2000-2001.

Directors re-elected to the Board were: Carmen Butler, Citibank, N.A.; Gregory Bethel, Fidelity Merchant Bank & Trust Ltd.; Gregory Cleare, KPMG; Clifford Culmer, BDO Mann Judd; Larry Gibson, Colina Financial Advisors; William Jennings, Leadenhall Bank & Trust Company Ltd.; Ishmael Lightbourne, PricewaterhouseCoopers; and Walter Wells, CIBC (Bahamas) Ltd. New Directors elected were: John Delaney, Higgs & Johnson; Geoffrey Hooper, The Winterbotham Trust Company Ltd.; Pamela Klonaris, Callenders & Co.; Gregor Maissen, Credit Suisse (Bahamas) Ltd.; Brian Moree, McKinney Bancroft & Hughes; and Paul Moss, Dominion Management Services Ltd.

In his Annual Report, Executive Director Barry J. Malcolm highlighted BFSB programmes and achievements, including membership services, the www site, BFSB publications and products, promotional tours, conference sponsorships, international and domestic advertising, BISX support and Government liaison initiatives. He took the opportunity to present a preliminary overview of the Year 2001 Plan, indicating that BFSB’s 2001 marketing and strategic development programmes will be geared towards reassuring and confirming to the market that The Bahamas remains the superior jurisdiction for financial services.

According to the Executive Director, BFSB will “build on what we already have been doing over the last number of years, but with a specific purpose towards having the international marketplace truly understand how The Bahamas has emerged through the current initiatives, and who we are, in light of refinement to the industry”. Vice Chairman Gregory Cleare also spoke of BFSB’s future plans, indicating that while promotion of the industry will no doubt again be a focus of efforts, the organisation must in the circumstances now lay new foundations for the industry, re-shaping and establishing services and products — and even how it perceives the industry.

The Vice Chairman also reported on the Strategic Development Committee established to formulate a private sector plan for the continued growth, development and prosperity of the Bahamas’ financial services industry. In particular, AGM attendees were presented with an overview of the Committee’s work in providing industry input to the Bahamas Government on the legislative and regulatory changes expected to impact the financial services industry in the coming months.

Photo Caption: Members of the Strategic Development Committee answering questions from the audience at the AGM include (left to right) Bruce Bell, Oceanic Bank & Trust & the Association of International Bank & Trust Companies; Judith Whitehead, Graham Thompson & Co.; and Gregory Cleare, KPMG.