Could you provide a brief journey of how you arrived where you are today?
I received a Bachelor of Arts degree, cum Laude, from Yale University and subsequently, a Juris doctorate degree from Harvard Law School in 1987. Upon graduation, I practiced law with Shearman & Sterling in New York.
I moved on to the Côte d’Ivoire where I worked as counsel and director of international development for N’Goan, Asman & Associates and, subsequently, held the position of managing director of Western Wireless International Corporation cellular telephony operations in Côte d’Ivoire.
With my family, I lived through the first coup d’etat on the 24th December 1999 in Côte d’Ivoire. In an effort to achieve stability and safety, I settled in Bermuda.
I joined the Bermuda Monetary Authority, holding positions as general manager of corporate services and secretary to the board of directors as well as director of legal, enforcement and international affairs.
Then in 2006, I joined Business Bermuda as CEO.
What is your greatest achievement to date?
I believe my true achievement is raising my three sons to be gentle, intelligent and caring individuals.
Which of your products/services deliver the best results?
The collaborative efforts of the government and our members work to inform and educate both the local and international business communities on the opportunities to invest and manage risk through funds, insurance and reinsurance products, trusts and other innovative capital markets structures. We work together to ensure Bermuda plays a significant role in the global economy and achieves real sustainable growth in foreign currency earnings, new businesses and employment opportunities.
What are the strengths of your business?
Our members are some of the best of Bermuda’s international business industry and government leaders, working together to help develop Bermuda as an international business center. Many Bermuda-based companies and trusts have played key roles in Islamic finance transactions and can offer flexible solutions to this industry.
Bermuda has already shown its determination to increase its role in the growth of the Islamic finance industry, which requires an understanding of Islam, a well structured regulatory regime and a willingness to be innovative and creative.
What are the factors contributing to the success of your company?
Our conferences around the world are always successful and they serve to market Bermuda as a financial center of excellence for international business while strengthening political ties and relations. Our members attend and support the events, conferences, and give generously in their time and resources. These efforts are vital to building a better understanding of Bermuda and our international business offerings.
What does your role involve?
As CEO, I interact with the Bermudian government, media and the members of the organization for the sole purpose of promoting the strategic vision of the company.
I travel around the world talking about Bermuda and the importance of the offshore world in ensuring the free flow of capital, management of risk and efficient investment globally.
What are the obstacles faced in running your business today?
The current macroeconomic climate is one of the toughest environments we have faced in our 41 year history. The effectiveness of our regulatory system, the strength of our economy and the depth of our business talent are internationally recognized. Hence, it is vital that we continue to increase the momentum that we have established in markets like the Middle East, Asia, the US, UK and Europe.
Where do you see the Islamic finance industry in the next five years?
We are very confident about the outlook for Islamic finance because the underlying drivers are so strong. The industry is expanding not just in terms of its size, but also in its geographical reach and range of products offered. There will also be strong growth in Takaful, re-Takaful and the Shariah compliant funds industry. We believe that institutions from the west will increasingly take advantage of the benefits of Islamic finance.
Name one thing you would like to see change in the world of Islamic finance.
Given how quickly the Islamic finance industry has grown, there is always the risk that demand will outstrip the industry’s ability to service this. Therefore it is important that the more skilled people we have in the industry, from bankers, brokers to scholars, the quicker the industry will be able to expand. |