The Bahamas Financial Services Board in collaboration with the Ministry of Financial Services hosted two successful briefings in Rio De Janeiro and Sao Paulo, Brazil on October 14th and 17th.
The Hon. Elsworth Johnson, Minister of Financial Services, Trade & Industry and Immigration addressed attendees and reaffirmed that The Bahamas is open for business and that we value the long standing relationship built with service providers in Latin America and Brazil in particular. He went on to inform attendees that:
“We are of the view that global regulation and international initiatives, whilst on the face if appear to be onerous can create opportunities. To embrace these opportunities we, as a government have begun by initiating the advancement of structural and technological infrastructure to spur and sustain growth, greater innovation, entrepreneurship and future infrastructural development. We have commenced a major digitization effort in The Bahamas. We are investing in human capital through the education, training and retraining of our professional workforce to protect the future of financial services. We are committed to supporting industry in the development of new products and services to meet client needs.”
The briefing on October 14th was held in Rio De Janeiro at the Fasano Hotel and was facilitated by BFSB’s CEO and Executive Director Miss Tanya McCartney who indicated that:
“We saw this as an opportune time to restate The Bahamas’ value proposition and to outline the legitimate role that international financial centres such as our play in the global economy. Leveraging our location, expertise and commitment to innovation we have what is required to meet the needs of the Latin American market.”
Leading financial services experts conveyed to attendees the wide range of product and service offerings that make the Bahamas the Clear Choice for Financial Services in the region. Speakers included Mr. Brian Jones, Managing Director of Leno Bahamas, Mrs. Linda Beidler D’Aguilar, Partner at Glinton Sweeting, O’Brien, Mr. Antoine Bastian, Managing Director, Genesis Funds Services and Mr. Francesco Vanacore, Head of Fiduciary at Ansbacher Bahamas. Director, Regulatory and International Affairs in the Ministry of Finance, Mr. Stephen Coakley Wells of the Ministry of Finance provided an update on The Bahamas’ legislative and regulatory response to international initiatives impacting financial services.
At the October 17th cocktail briefing which was held in Sao Paulo, Brazil at the Grand Hyatt, Minister Elsworth Johnson brought remarks and the over one hundred guests were afforded the opportunity to network with the twenty-two Bahamian professionals in attendance at The STEP Conference.
While in Brazil, The Bahamas Financial Services Board arranged closed door meetings for the Minister with BFSB member firms and other advisory firms with a presence in Brazil. BFSB also sponsored the Society of Trust and Estate Practitioners (STEP) LATAM conference, which was well attended, with over four hundred registered delegates.
The keynote speaker on the second day of the event was Bahamian NBA superstar Mr. Rick Fox who emphasized that the Bahamas was open for business while he spoke on the topic “ Advising The New Generation of Ultra High Net Worth Youth” Annually, The Bahamas Financial Service Board organizes briefings to provide financial service intermediaries around the world and other service providers with updates on legislative and business developments in The Bahamas, as well as to provide BFSB member firms the platform to connect with potential business opportunities.