Bermuda promoted as 'premier center for financial services business'

TUESDAY, NOV. 20: Business Bermuda last week represented Bermuda on two different continents in an effort to garner interest in Bermuda as a premier center for financial services business. From November 13-14, 2012, Ms. Cheryl Packwood, CEO of Business Bermuda, attended the European Captives Forum 2012 in Luxembourg. Mr. Shelby Weldon, Ms. Shanna Lespere, and Mr. Roger Scotton of the Bermuda Monetary Authority also represented Bermuda at the event with Mr. Weldon speaking on a panel concerning global regulatory standards for Solvency II.

Mr. Weldon stated during the panel session, “Even though the United States has an impact on how the Bermuda regime develops, we are not obligated to follow their directives ubiquitously.  It has always been our approach to do what is best for our market and our captive market.  Bermuda is unique in that regard. We have the expertise in this market and have been at the forefront in captive regulations.  We ensure that we sit at the table with the major regulatory bodies so that we have a say in what is being done.”

Ms. Cheryl Packwood commented, “The European Captive Forum gave Bermuda a tremendous opportunity to represent Bermuda as the top domicile for captives in the world. With over 1,000 delegates in attendance, Bermuda’s visibility and participation in the event served to maintain Bermuda’s international reputation in the captives market. There continues to be very strong interest in Bermuda, and it is encouraging to see Bermuda stand out above the rest.”

Business Bermuda also attended the 19th Annual Offshore Convention in San Juan, Puerto Rico on November 14-25, 2012. Ms. Yelena Packwood, Marketing and Sales Executive of Business Bermuda, Mr. William Maycock, President of Winchester Global Trust Company Limited, and Mr. Thalius Hecksher, Global Head of Business Development of Apex Funds Services represented Bermuda at this event where Business Bermuda participated as a Silver Sponsor.

Focused on bringing together a group of delegates highly experienced in the offshore arena, this conference was able to provide quality networking experiences and the opportunity for key decision makers to more fully understand why Bermuda should be their jurisdiction of choice.

"This year's event of the 19th World offshore Convention showcased some very interesting topics around offshore strategies focusing on ASIA, LATAM, and Europe looking at offshore financial centres services,” commented Mr. Thalius Hecksher. “As APEX continues to grow our business into LATAM, it was great opportunity to understand more about the dynamics locally in each LATAM jurisdiction and speak with industry figure heads. It's an exciting time for Apex, a Bermuda-based company, and as we continue our business growth we are well placed to service our clients in these growing jurisdictions."