| Friday 27 January, 2006 |
| FOR IMMEDIATE RELEASE |
| The Bermuda International Business Association announced today that the Bermuda Briefing held in London at the Renaissance Chancery Court Hotel on Wednesday, 25th January had proven an excellent opportunity to update U.K. industry leaders on Bermuda’s latest business initiatives and showcase the depth and breadth of the island’s expertise in hedge funds and trusts. |
| New BIBA Chairman, Lloyd Wiggan commented, “We were delighted to start the year with a raft of positive business news for the UK and European market. BIBA worked hard last year, together with the Ministry of Finance and Bermuda Monetary Authority, to ensure that we remain a key player in financial services. Our funds and trusts sectors are thriving and, thanks to new, market-focused legislative updates, will continue to do so in the future.” |
| BIBA CEO, Deborah Middleton stated, “We used this forum to showcase many of the new procedural and legislative changes that have taken place which enhance the business experience in Bermuda. The delegates welcomed the news of Bermuda’s unique and successful response to the European Union Savings Directive which puts Bermuda firmly on the map as a first choice jurisdiction for both funds and trusts in addition to our standing as one of the top three insurance centres in the world”. |
| Mr. Wiggan opened the event with a welcome address and delegates then attended separate information sessions on hedge funds and trusts conducted by BIBA members from Appleby and Conyers Dill & Pearman’s Bermuda and London offices, HSBC Bank of Bermuda, JP Morgan Tranaut, Bermuda Commercial Bank, the Bermuda Stock Exchange and the Bermuda Monetary Authority. “We are indebted to all our speakers who have dedicated valuable time to making this event such a success and who took great pains to correct misperceptions and provide the latest information on the competitiveness of the business landscape in Bermuda” said Mr. Wiggan. |
| Bermuda Monetary Authority Chairman, Cheryl Lister, was the luncheon keynote Speaker, and presented an overview of Bermuda’s regulatory environment and forthcoming Collective Investment Schemes initiatives and legislation. |
| BIBA Marketing Manager, Susan Stirling commented, “Initial informal feedback from those who attended suggested that they truly appreciated having access to first hand information and the opportunity to talk to business leaders in the different sectors. They felt that they came away with a much greater knowledge of what Bermuda has to offer and why it continues to dominate as a world class jurisdiction”. |
| END |
| About the Bermuda International Business Association |
| The Bermuda International Business Association (BIBA) is a business organization of Bermuda resident service providers who provide quality banking, legal, accounting, financial, trust, management and e-commerce services and products to the international client. BIBA works with the private sector and Government to develop and promote the island as one of the world’s foremost centers for international business. |
| For further information please contact: |
Susan Stirling
BIBA
Tel: 441-292-0632 |
