The Tribune

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Nearly 100 representatives from the financial services industry came together for the launch of the Bahamas Millennials Society (BMS) this week.

BMS was created by the Bahamas Financial Services Board (BFSB) in recognition of the fact that younger Bahamians – Millennials born between 1979 and 1993, and between the ages of 21 and 35 – are the future of the country’s financial services industry.

A Millennial herself, BFSB chief executive and executive director, Aliya Allen, believes BMS is an ideal initiative to network and share ideas among peers, and with more established industry veterans.

“Millennials are the most educated generation in history. They are also the generation that requires the most support and guidance as they ascend to leadership positions in an environment that is incredibly dynamic and often very challenging,” she said.

“BMS encourages excellence, engagement, networking and mentorship. We believe that we have something to teach this generation and they have something to teach us.”

While the room was filled with Millennials, the programmes’ first mentors were also present and applauded for their volunteerism and willingness to give back to the next generation. Also recognised were the corporate sponsors for the teception, including Deltec Bank & Trust, Fidelity Bank & Trust, Old Fort Financial and UBS Trustees (Bahamas).

“We want to convey that in spite of the many challenges ahead of us, there is vast opportunity,” said Ms Allen. “You just have to be smarter and more discerning about career choices and specialisation.

“The fact that we already have three corporate members - Credit Suisse AG, Julius Baer Bank & Trust and UBS Trustees (Bahamas) - signed up even before our launch is testament to the commitment our financial services institutions show to development of human capital.”

Addressing the Millennials, minister of financial services, Ryan Pinder, said: “We believe in you. I believe in your capacity to grasp the opportunities out there and to create your own. This is your industry – take ownership, be excellent and soar.”

Three key objectives underpin BFSB’s BMS initiative – mentorship, networking and exposure. The latter was on full display at the launch, which featured two headline speakers: investment manager Adam Johnson, former anchor for Bloomberg Television, where he co-hosted ‘Street Smart’, Bloomberg’s daily business news programme; and Ron Alsop, author of the book ‘The Trophy Kids Grow Up: How the Millennial Generation Is Shaking Up the Workplace’.

Corporate Membership in BMS is open to member firms in good standing with BFSB. A rate of $1,000 per year guarantees individual membership for up to 10 individual persons.

Individual Membership at $125 per annum is available to employees of BFSB member firms if the firm is unable to satisfy the corporate rate. There is also a student membership option for students studying full or part time in a degree related to financial services, law, technology or real estate. The cost is $25 per year.

Photo Caption: L to R are Steven Ferguson, sponsor UBS Trustees (Bahamas); speaker Ron Alsop; Lacy Roosevelt, sponsor Deltec Bank & Trust; Robert Turnquest, sponsor Deltec Bank & Trust; BFSB chief executive Aliya Allen; Ryan Pinder; speaker Adam Johnson; Khrystle Rutherford-Ferguson, sponsor Fidelity Bank & Trust (Bahamas); and C. James Schaefer, sponsor, Old Fort Financial