teamed up with 15 other international banks to found a trust companies' association in Bermuda.

The International Trust Companies Association is a non-profit organisation which will focus on promoting global standards and education for the industry.

At the first meeting of the organisation in May, members agreed to focus on establising an inter-jurisdictional forum to exchange ideas. They also agreed to try and unify international trust standards and principles of good practice, and to study the development of a proprietary alternationve dispute resolution process.

Terence Todman Jr. of Chase Bank & Trust Co. (C.I.) Ltd. is the chairman of the new organisation. Cummings Zuill from the Bank of Bermuda will head the secretariat.