The Tribune

The Government has named Dave Smith as the Bahamas Development Bank's (BDB) managing director as the institution celebrates its 40th year anniversary.

The Ministry, in a statement, said Mr Smith has already begun work to strengthen the BDB's relationship with local and international partners, and to promote Bahamian empowerment through business ownership.

Mr Smith said: "I look forward to serving in this position and continuing the planned activities this year to commemorate the Bank's 40-year anniversary. We will forge ahead with executing our strategic plan.

"At the same time, we also look at fulfilling the Government's mandate to examine some of the legacy issues that require focused attention and reform. This will include a few new initiatives we are exploring. As we implement these various activities we will certainly keep the public up to date."

He added: "I also look forward to continuing the collaboration with our many partners such the Caribbean Development Bank, various government ministries and industry associations to execute the principal functions of the Bank, which are to promote industrial, agricultural and commercial development via financing and investing in approved enterprises; encourage citizens of The Bahamas to participate in business ownership, and promoting economic development of The Bahamas."

Mr Smith is a certified public accountant, and holds Bachelor's and Master's Degrees in business administration from Taylor University, Upland, Indiana. He is a Fellow of the Bahamas Institute of Financial Services (FBIFS).

The BDB managing director has previously served as deputy chairman of the National Insurance Board (NIB); a director of Aliv and chairman of its majority shareholder, HoldingCo2015; a director of the Public Hospital Authority (PHA); and as executive vice-president, treasurer and lecturer at the Bahamas Institute of Financial Services (BIFS). He is the former executive director of the Securities Commission, and has over 30 years' experience in financial services.

Mr Smith has also held senior managerial positions with institutions such as Credit Suisse, Royal Bank of Canada, MeesPierson, Lloyds TSB, Royal Bank of Scotland and UBS (Bahamas). His professional experience includes his role as a founding partner of dss360solutions, a company specialising in compliance, operations consulting and other facilitation services.