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How Bermudian CEO Gerald Simons made it to the top

Top man: Argus Group president and CEO Gerald Simons.

He is the man in charge of the biggest Bermuda-owned life insurance company in the domestic market, which also happens to be the second largest local company in terms of capitalisation on the Bermuda Stock Exchange.

Argus Group chief Gerald Simons has headed the organisation since 1998. Although he did not join the ever-growing life insurance, pensions and investments company until 1971, the Bermudian's route to the top started back in 1966.

At that time he was the first black teller to work for Butterfield Bank in St. George's. The bank even took the unusual step of providing him with a mobylette scooter so he could make his daily commute from Warwick to the East End.

His grandmother one day took a call from someone called Stewart who asked if Mr. Simons would get in touch with him at his office.

"I did not have a friend called Stewart who worked in an office, but I called and it turned out to be JEP Stewart, who was managing director of Argus Group," recalled Mr. Simons.

The Argus boss had been alerted to the young Mr. Simons by a mutual friend, Colonel Tucker at Bermuda Regiment. The Colonel had been asked if he knew of any bright Bermudian recruits with potential to reach management level in the local company. Mr. Simons had not only secured the runner-up best Regiment Recruit award of 1966, but had notably required leave of service to take his A-level Chemistry and Maths exams.

He was already heading for the University of Manitoba on a Government teacher-training scholarship, but Mr. Stewart made a counter offer of a scholarship on the proviso that he would return to Bermuda to work with Argus.

"He said if I came back to Bermuda and passed the relevant insurance exams I could become a manager and possibly CEO," said Mr. Simons.

He studied economics at the University of Western Ontario and worked at Argus as a summer student, moving around the health, life and general insurance areas, this was to prove useful in later years as it meant he was one of the few managers with experience across the board at Argus.

While a student he was involved in the university's campus newspaper, where he pursued one of his life-long hobbies photography, and he was also a member of the debating group and the choir.

In 1971 Mr. Simons became a full-time employee with Argus, working as a clerk and then as a salesman and supervisor. His photographic skills came in useful when a re-shoot of pictures for the 1973 company report was needed.

When Peter Parker, who had acted as Mr. Simons' mentor at the company, resigned in 1977, it was Mr. Simons who moved up to the role of manager of Bermuda Life Insurance Company. He had by this stage completed the Life Office Management Association (LOMA) programme and been made a Fellow.

Life became very busy for Mr. Simons from 1982 onwards as he assumed the role of group sales manager and chaired a number of internal committees. At the same time he entered politics, first as an appointed senator and later elected as a MP in 1985. He returned to the Senate in 1993 and finally retired from politics in 1995 when Premier John Swan stepped down.

During his years in Government he had been, amongst other responsibilities, Education Minister, Minister for Community and Cultural Affairs and Minister for the Environment.

Juggling a leading company position with a political life seems a tall order, but it was one Mr. Simons was willing to fulfill - and with the blessing of Argus, which had, and continues to have, a supportive culture towards it and its staff serving the community.

"Bermuda suffers from a shortage of people, so there is a requirement to double-up. It is typical of a small island," said Mr. Simons.

"Argus recognises the duty of each of us to serve the community and we are encouraged to do so. For me it was a demanding combination, especially when holding down ministerial responsibilities. Around Budget time I was spending four-and-a-half days a week in Government."

Leaving politics in the mid-1990s, at a time when he had added the Health Insurance Association of America (HIAA) initials to his qualifications, also put him in pole position to become CEO of the company.

In 1996 he was awarded the OBE by the Queen and the following year was named Argus' CEO designate, taking on the full role in 1998.

"Being the head of the organisation gives an opportunity to put a stamp on things. One of the things I try to do is create an environment in which every employee can give of his or her best," said Mr. Simons.

He meets every new employee and encourages them to share their positive past work experiences with their new team members.

"We have recruited people who have worked in fast food and they've become junior clerks and then moved into the international business sector. One of the concerns is losing good employees to the international sector, but that sector has grown so large that we can hire from them so it works both ways."

When he took over as CEO Argus was made a profit of $11 million and had 94 employees, today it has around 175 employees and made a profit in the past year of $37m. Mr. Simons is enjoying his stint as head of company and has no retirement plans as yet.