-
by pltm
(PLTM) - Nine individuals from the financial services industry were elected to serve as the first Board of Directors of BVI Finance Limited, as BVI Finance privatizes. They were elected at the first Annual General Meeting (AGM) held at the BVI Finance conference room on Thursday, January 19. The new BVI Finance Board of Directors, with the exception of the two government representatives are Robert Briant, Conyers Dill & Pearman; Vanessa King, O’Neal Webster; Ryan Geluk, BDO Limited; Kenneth Morgan, Pendragon Services Limited; Claire Abrehart, AMS Financial Services Limited; Peter Tarn, Harneys; Rachel McDonald, Mourant Ozannes; Jonathan Bailey, Nerine Trust Company (BVI) Limited; and Helene Lewis, Simonette Lewis. At the AGM, BVI Finance’s Interim Executive Director, Lorna Smith expressed the significance of the first meeting and provided an update on the progress being made as BVI Finance transitions to wholly become BVI Finance Limited, and explained the process for electing the Board of Directors. “Today marks a new era in the history of the BVI's financial services industry and none of this could have been achieved without the diligent work of the Financial Services Implementation Unit and, of course, the private sector.” She added, “As the BVI remains committed to offering an internationally renowned and respected financial services product, the creation of BVI Finance Limited and appointment of the new Board of Directors will absolutely help to ensure that we fulfill our desire to create a truly public/private partnership in an effort to better support the BVI’s financial services industry." During her explanation of the election process, the Interim Executive Director said that after nominations were received from the floor, each company represented at the meeting would be required to vote for four board members serving for three years, three board members serving for two years and two board members serving for one year. The establishment of BVI Finance Limited is one of the key items on the action plan for the BVI Forward initiative, Revamp the International Finance Centre (IFC). The IFC was rebranded in 2014 and as of January 2, 2017, became a private company, BVI Finance Limited. The next phase of the process will see the signing of a cooperation agreement between government and BVI Finance Limited, which will cement the terms of the arrangement and the roles and responsibilities of both in this public-private partnership. The signing will take place shortly after the new board meets and elects its Chairman and other officers, who will be joined by two government representatives.
-----
Copyright 2023 by Virgin Islands Platinum News. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
