Wendy C. Warren
CEO & Executive Director
The Bahamas Financial Services Board (BFSB) has launched a new programme called SPIN, and announced increased conference participation and sponsorship as part of its key marketing initiatives in 2003.
These programmes and other marketing initiatives reflect the greater emphasis on sector specific promotion and communications activities to supplement the work of individual member firms.
BFSB’s promotional programme for 2003 continues to place primary attention on intermediaries who heavily influence decision making in the selection of an international financial centre.
*”We are utilising more of our resources in relationship building programs to promote the professional expertise and products available in our jurisdiction,”* said Wendy Warren, BFSB’s CEO and Executive Director.
SPIN – which stands for Special Programme For Intermediaries in Nassau – is an outreach whereby individual international intermediaries travel to The Bahamas to meet with industry representatives, regulatory agencies and Government officials to broaden their insights and understanding of the jurisdiction.
*”We strongly believe that such information exchanges are vitally important to maintain confidence and support for our jurisdiction, and to reaffirm the strength of The Bahamas in some of our primary markets for business,”*says Ms. Warren.
Two SPIN events are planned within the next two months – one which focuses on private wealth management in late March, co-hosted by the Association of International Banks & Trust Companies (AIBT). The second in early April focuses on Mutual Funds and will be co-hosted by the Bahamas Association of Mutual Fund Administrators (BAMFA).
Leading intermediaries from North America and Europe are expected to attend each SPIN.
BFSB’s increased involvement at international conferences also reflects its sharper focus on sector support. During the first six months of the year BFSB is participating in five conferences covering private wealth management, funds and captive insurance. It has taken a sponsorship position at a major trust conference in London in June and has also agreed to co-host a private wealth management conference in Nassau in June. This is being organised by the Institute for International Research (IIR).
Participation in conferences in Chicago and San Francisco in June will also provide BFSB with an opportunity to meet intermediaries in these cities as part of an overall briefing visit programme designed to build stronger professional relationships with individuals and firms who influence business decisions.
Additionally, Ms. Warren said BFSB is planning formal briefing visits to the UK, Switzerland, Latin America, Miami, New York and Toronto during 2003.
Close co-ordination with the relevant professional industry associations has provided the foundation for the organisation’s conference planning, according to its Chief Executive.
**BFSB Member Forums**
A series of Member Forums has been designed to assist BFSB member firms with understanding issues and developments affecting the industry.
The first of these sessions was on February 17 focusing on the pending Investment Funds Bill and Regulations. This will be followed by an e-commerce forum on March 3.
Other sessions will cover regulatory issues, client service, foundations and capital markets.
**Financial Centre Focus**
Ms. Warren also confirmed that BFSB will again sponsor several initiatives under the Financial Centre Focus (FCF) programme, a key element of its continuing efforts to maintain “industry awareness” in The Bahamas. These include the annual Industry Awards, Industry Orientations, and School Outreach programmes.