Gibbons leads delegation to New York for talks with investors
A bid to drum up more business for Bermuda will be spearheaded by Minister for Economic Development Grant Gibbons.
Dr Gibbons will join members of the Bermuda Business Development Corporation (BBDC) and representatives of local firms in a bid to promote the island as a leading spot for investment fund business in New York.
Dr Gibbons said: “This trip to New York is an important part of this Government's efforts to bring much-needed investment and jobs to our local economy and I look forward to taking this critical step that can lead to a resurgence in this business which has long been a staple of Bermuda's international business portfolio.”
The visit comes just after legal amendments designed to make it easier for overseas investment firms to set up shop on the island.
Dr Gibbons said: “The Government, in close collaboration with industry and the Bermuda Monetary Authority, recently modernised our Investment Funds Act to streamline the launch of investment funds in Bermuda.
“I am confident that these changes will advance our position as a leading international financial centre and a preferred location for these funds that are seeking a pristine quality jurisdiction.”
Several meetings will be held with New York law firms, auditors, prime brokers and investment advisers.
A reception, hosted by the BBDC in cooperation with Government, will be held at the Peninsula Hotel in New York today.
Dr Gibbons and BBDC CEO Stephen Lund will both address attendees and talk about Bermuda's position as a jurisdiction of choice for investment fund business.