The Tribune

By NATARIO McKENZIE

Tribune Business

Reporter

nmckenzie@tribunemedia.net

MINISTER of Financial Services and Investments, Ryan Pinder, is actively targeting the London financial services market for business opportunities, telling Tribune Business the UK capital can act as a gateway to clients throughout the world.

Mr Pinder, who has just returned with the Bahamas Financial Services Board (BFSB) from meeting private banks, independent asset managers, lawyers, accountants and family offices in Switzerland and the UK, told Tribune Business: “We have just came from a financial services tour in London. Clearly, London is the international business hub of Europe.

“I came away with a particular impression that, with a focused approach in London, we do have a tremendous opportunity to access clientele from all over the world. London provides that unique feature for us as a jurisdiction to take advantage of.

“I  am personally very intrigued and attracted to the London market, and will certainly look to persue that. We are looking to do some additional tours in London in this calendar year; some technical tours with practitioners and attorneys to really expose the Bahamas.”

Mr Pinder said the Asian and Latin American markets were also being pursued. “We are looking to possibly focus in on Panama, especially since the Society of Trust and Estate Practitioners (STEP) conference is being held in Panama,” he added.

“We see a tremendous opportunity given our location and the successes of the economies in Latin America. Similarly, we see Asia as a key market. Asia presents certain challenges due to its distance from the Bahamas, but we certainly feel a sense of comfort with our cooperation and relationships with the Chinese government, for instance, and our history of doing business with China.

“We see that as a potential market we are committed to, both from a financial services and a trade perspective. We feel very encouraged about Asia as a key market in financial services, but also in a grander scheme of economic development.”

Mr Pinder said there was room for “exponential growth” in the Bahamian financial servcies sector. “I think that with proper vision, policies and marketing initiatives the sky is the limit. I certainly don’t see it as a constrained market,” he added.

“We are putting together a comprehensive educational initiative to train practitioners on the advantages of the Bahamas, and to enhance the skill set of our domestic practitioners so they can work hand in hand with international experts.”