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Island boasts eight in top 200 power women

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Kimberley Durrant: the UK representative for the Government of Bermuda is featured on Citywealth's top 200 power women list

A total of eight Bermuda female business leaders have been listed in a prestige global top 200 of power women.

The 2016 list compiled by London-based business magazine Citywealth includes Kimberley Durrant, UK representative for the Government of Bermuda, Fozeia Rana-Fahy, director of law firm MJM and Vanessa Schrum, a partner at law firm Appleby.

Also included were Michelle Wolfe, managing director of Meritus Trust Company, Helen Cooper, director at law firm Conyers Dill & Pearman, Hamilton Trust managing director Linda Longworth, Caroline Foulger, a former partner in professional services firm PwC, now a non-executive director of insurer Hiscox and Freya Giffen, managing director of Codan Trust, part of Conyers, Dill & Pearman.

Citywealth founder and chief executive officer Karen Jones said: “Congratulations to the women who made the list this year.

“By highlighting their achievements we aim to remove barriers for their continued advancement and pave the way for others to follow in their success.”

The list includes views from some of the awardees on issues like quotas for women, their role models and charity work.

The list was drawn up using information gathered from last year’s awards and the 2015 edition of the Citywealth leaders list.

They were combined with recommendations from leading figures in the financial services industry and a call for submissions last year.

Citywatch said the list, which covered 25 countries, was listed alphabetically by jurisdiction and surname.

Ms Longworth said that she backed quotas as “one of the most efficient tools available to create a more level playing field for women and men” and cited her mother as a key influence for her “stability, work ethic and independent spirit”.

Ms Schrum added: “Unfortunately, quotas for women are still probably quite necessary given the lack of women in top management jobs and CEO positions.

“The world is changing gradually and more and more women are entering the legal, accounting and other wealth management professions and qualifying for top jobs, so I believe and hope that in due course the need for these sorts of quotas will be a thing of the past.”

Ms Wolfe said: “I believe quotas can help when executed in a way that recognises a woman’s merit and contribution.

“Women can bring in fresh ideas and a different perspective from their male counterparts.

“They may even become role models for other women who are striving in their field.”

But she added: “The pitfall is that people might feel a woman was hired to fill a quota, especially if she was not as qualified as a male applicant.

“That causes resentment and in the end the woman may garner less respect from her colleagues.”

Vanessa Schrum: partner at Appleby
Fozeia Rana-Fahy: a director of law firm MJM
Caroline Foulger: non-executive director of Hiscox