Twelve people have been named as the first board of directors for the new Bermuda Business Development Corporation (BBDC).They have been hailed as representing “an impressive cross section of business executives” by acting chairman David Cash.The new entity will work to promote Bermuda to international businesses with the aim of growing that sector of the Island’s economy.A chief executive, who will also sit on the board, has yet to be named. The BBDC’s board will elect a chairman in April.“We are extremely grateful to these individuals for volunteering their time and expertise in support of the BBDC and Bermuda,” said Mr Cash.“The Board represents an impressive cross section of business executives each bringing their own unique experiences and passion for Bermuda to the BBDC. We are excited to have this collection of business leaders participating in such an important endeavour.”In a statement the BBDC said its nominations committee had sought to ensure an appropriate and balanced representation on the Board, and that the new organisation was focused on “good governance with an emphasis on skill-set, expertise, commitment, and a passion for the growth and success of Bermuda”.Since launching in January the BBDC has been holding industry focus groups in sectors such as insurance linked securities, trusts, asset management and banking, to gather information, generate initiatives and collate feedback.Minister of Economic Development, Dr Grant Gibbons, said: “I am very pleased to see the BBDC starting to take shape and this Board gather leaders who have a passion for our Island. The Ministry will provide as much assistance and support to the BBDC as we possibly can. The Ministry is committed to the generation of jobs and re-energising our economy.”The Association of Bermuda International Companies (ABIC) has thrown its weight behind the creation and roll out of the BBDC.“When work to develop BBDC began more than 12 months ago, there was a unified recognition among the various stakeholders that the island had to become more effective in the way it positioned itself in the global marketplace and that targeted strategies to attract new business to the Island were needed,” said George Hutchings, chairman of ABIC.“Over the past year, BBDC has engaged with the international business sector and the Government to effectively consolidate the existing and varied marketing efforts conducted by several industry and government supported associations into the BBDC.“It is expected that this strategic change can quickly support and develop new business opportunities that can bring jobs to the Island.“We all know that new company start-ups have slowed and there has been a steady loss of jobs and companies in the international sector. BBDC will support the broad range of international business growth opportunities for existing and new companies that will ultimately benefit every person on the Island. ABIC stands ready to support the BBDC in this critical objective as the future welfare of the island is dependent upon its success.”ABIC members identify a business friendly environment, immigration reform and cost as three key areas that impact decisions on job creation, the group said in a statement.The organisation represents more than 110 international companies with a Bermuda presence.The group applauded BBDC’s initiative to develop an international business concierge service, as a single point of contact to facilitate set up of new companies and quickly get them operational is a major step to increasing Bermuda’s competitiveness.“This ‘one-stop shop’ is a real service improvement that creates excitement and gives Bermuda a new story to tell, a clear signal that we are open and friendly to business,” said Mr Hutchings.The BBDC board announced yesterday are:n Kiernan Bell (Managing partner of Appleby Bermuda);n Lawrence Bird (Managing director Marsh Bermuda and chairman of the Bermuda Insurance Management Association);n Wayne Caines (CEO of Digicel Bermuda);David Cash (CEO of Endurance Specialty and chairman of Business Bermuda and ABIR representative);n Rees Fletcher (Division president ACE Bermuda and Bermuda First representative);n Caroline Foulger (Independent director and interim chair of the BBDC);n Richard Moseley (CEO of HSBC Bermuda);n Allan Pelvang (Country head of Fidelity Bermuda and ABIC representative);n Paul Scope (Chairman and CEO of JLT Park Ltd);n Derek Stapley (Independent director, director of ISIS Foundation and chairman of Cambridge Beaches Bermuda);n Allison Towlson (Chief operations officer ACE Bermuda and chair of the IDC),;n Ross Webber (Permanent secretary of the Ministry of Economic Development).