Bermuda’s strengths as an international financial was in focus at the fifth annual Citywealth Forum, held recently at The Skyline London, overlooking the Tower of London.

Kendaree Burgess, chief operating officer of the Bermuda Business Development Agency, opened the day’s discussions with a spotlight on the jurisdiction’s global competitiveness.

In her remarks, Ms Burgess highlighted Bermuda’s appeal for the ownership, registration and management of private aircraft and superyachts.

She also pointed to Bermuda’s strong regulatory framework for digital finance, referencing the island’s Digital Asset Business Act, which aims to improve transparency and efficiency in the digital asset sector.

The event brought together wealth management professionals, lawyers and policymakers for a day of debate on the geopolitical and regulatory forces shaping the private wealth industry.

The forum concluded with a keynote address from Penny Mordaunt, the only woman to have served as both Secretary of State for Defence and Minister for the Armed Forces in the UK.

Speaking on the importance of philanthropy, Ms Mordaunt was honoured with the Citywealth Honorary Powerwoman award. The backdrop of the Tower of London offered a symbolic link to her role as sword bearer at the Coronation of King Charles III, where she famously carried a 17th-century ceremonial sword now housed in the tower’s collection.

The forum was chaired by Joshua Rubenstein, partner and national chair of the private wealth department at Katten Muchin Rosenman LLP in New York. The annual event is organised by Citywealth, a UK-based media and events company focused on the global private wealth sector.