The Tribune

The Bahamas Financial Services Board (BFSB) has held its 2012 Annual General Meeting (AGM), electing a new Board of Directors for the 2012-2014 term. Its officers will be selected at an early Board Meeting.

BFSB directors elected in their individual capacity include: Michele Balice, BSI Overseas (Bahamas); Timothy J. Colclough, Butterfield Bank (Bahamas); Linda Beidler-D’Aguilar, Graham, Thompson & Co; Steven Ferguson, UBS Trustees (Bahamas); Heather M.A. Bellot-Hazarian, MMG Bahamas; Ivan Hooper, The Winterbotham Trust Company; Vanessa Knowles, Credit Suisse Bahamas; Samantha Knowles-Pratt, Delaney Partners; Peter Maynard, Peter D. Maynard & Co; Tiffany Norris-Pilcher, Ernst & Young; Jeremy Proffitt, RBC Wealth Management; Prince Rahming, PricewaterhouseCoopers Bahamas; Christel Sands-Feaste, Higgs & Johnson; C. James Schaefer IV, Old Fort Financial; Arthur Seligman, Lennox Paton; April Turner, McKinney, Bancroft & Hughes; and Paul Winder, ATC Trustees (Bahamas).

The Board also features individuals who are elected to represent professional industry associations (PIAs). Those associations elected to serve on the new Board are:

Association of International Banks & Trust Companies (AIBT) – Bruno Roberts

Bahamas Association of Compliance Officers (BACO) – Marsha G. Ferguson

Bahamas Investments and Securities Business Association – Brian Jones

Bahamas Bar Association (BBA) – Paula Adderley

Bahamas Insurance Association (BIA) – Howard Knowles

Bahamas Institute of Chartered Accountants (BICA) – Pedro Delaney

Bahamas Real Estate Association (BREA) – Larry Roberts

CFA Society of the Bahamas (CFASB) - Velma Miller

Society of Trust and Estate Practitioners (STEP) – Anita Bain

Aliya Allen, in her capacity as BFSB’s chief executive and executive director, serves as permanent representative on the Board, as does Viana Gardiner, director of investments within the Ministry of Financial Services, as the Government representative.

BFSB chairman Paul Winder told the AGM that the organisation needed to continue its agenda of change.

He also referenced the many regulatory developments in recent times, saying there was no question that ‘smart’ regulation brings many benefits. He stressed, however, the importance of working to ensure that regulation does not become a barrier to sustainable growth.

Mr Winder said: “Regulators must be change agents, fully grounded in business practices.”

Ms Allen, in her report, spoke to the BFSB’s mandate of industry development and the important roles both ‘Big’ and ‘Small’ development continues to play as the organisation strives to fulfill both this critical directive and its key promotional mandate.

She said: “BFSB has over the years proven that it is an effective tool for both Government and BFSB members to effect real improvement in the business of financial services in the country, and the image of the Bahamas as an international financial centre. BFSB works hard to implement and effect its dual mandate for development and promotion of financial services.”