Cindy Campbell has shifted her focus from Argus clients' physical health to their financial health, with her appointment as chief operating officer of investment company Argus Financial Ltd. (AFL)

And if there's one key piece of advice she wants to give investors, it's to diversify.

Mrs. Campbell, a Bermudian, has been with Argus Group seven years and was previously executive vice-president of Group insurance and was heavily involved with the company's health insurance business. She believes that what she learned in that role will help her appreciate what is necessary for financial well-being.

"Generally, we have settled into a North American model here, in which people don't save enough," Mrs. Campbell said yesterday.

"Actuarial studies show that people are living longer. So you may retire at 65, earned incomes stops and you could be living off your savings until you're 90. That's 25 years with no income, so you have to have a pretty good portfolio to keep you in the lifestyle you want."

Many Bermudians had most of their wealth tied up in their property — a risky strategy, Mrs. Campbell said.

"It's very risky to put all your assets into one particular investment, whether it's real estate or stocks," she said. "The portfolios we have at AFL are diversified because we focus on capital preservation."

AFL, a joint venture with Barbados-based Cidel Financial Group which has been operating for three years, manages more than $1 billion in assets, including Argus' pension plans, as well as corporate investments and the assets of high net-worth individuals.

While the dramatic slump seen this year in global stock markets has affected its funds, Mrs. Campbell said they had stood up well to the test.

"Our investment philosophy is designed to give excellent returns in good markets, but to preserve capital in down markets — and that is what they are doing," Ms Campbell said. "This year US stocks are down about 20 percent, while our funds are down two percent."

The MSCI World, a global stock-tracking index, has fallen 2.6 percent since the peak of the markets in March 2000. Over the same eight years, Mrs. Campbell said, the Argus Balanced Fund has gained 52.6 percent.

The new COO said she was looking forward to her new role. "While health insurance is a mature business, investment is more of an entrepreneurial business and I think it has great potential to grow."

Argus also announced yesterday that Paul Williams has been appointed to the position of executive vice-president, information systems. And Michelle Brock Jackson has been promoted to the role of vice-president, Group insurance.

Mr. Williams has 21 years' experience in IT in the UK, working for the likes of KPMG, Acuma, Scottish Bank and Dairy Farmers of Great Britain.

Bermudian Ms Brock-Jackson will manage the largest department at Argus and will be responsible for the strategic direction of the Group's insurance business. She joined Argus in 2004 and was previously in charge of special projects in the insurance department.