On October 4, a high-level delegation from Bermuda, including the Bermuda Ministry of Business Development and Tourism, the Bermuda Stock Exchange [BSX], and financial services executives representing Business Bermuda member companies, hosted the 4th Annual Bermuda Briefing in Toronto, an afternoon series of panel sessions to discuss recent developments in Bermuda presenting opportunities for Canadian companies. Over 70 leading business people attended.
Ms. Cheryl Packwood, CEO of Business Bermuda opened the session with an overview of the ongoing relationship between Bermuda and Canada. Minister of Business Development and Tourism Wayne Furbert then provided remarks on the recently released “Bermuda is so much more!” tourism campaign.
Following was the keynote speaker, Mr. Kevan Cowan, President of TSX Markets Group and Group Head of Equities, TMX Group, who brought to light opportunities created by the recent strategic investment by the TSX in the BSX, and also provided his view on the M&A trends in stock exchanges globally. Mr. Greg Wojciechowski, CEO of the BSX, and Ms. Cheryl Packwood, CEO of Business Bermuda, were both present at the event and involved in the panel sessions.
Following the keynote, a panel discussion, moderated by Ms. Packwood, including Mr. Brendan Caldwell, CEO, Caldwell Securities, Mr. William Woods, CEO, WW Woods & Co, and Mr. Steve Woodward, Partner, KPMG LLP featured a discussion on asset management and the benefits for Canadian companies of doing business in Bermuda, specifically the coming into force of the TIEA between Bermuda and Canada and the implications of Canada’s Ministry of Finance’s recognition of the BSX.
A second panel, also moderated by Ms. Packwood, focused on Bermuda’s successful and well-established insurance industry. Captives, re-insurance, and insurance-linked securities were prominent in the discussion. Participants on this panel included Mr. Thomas McMahon, President, Cedar Management, Mr. Michael Frith, Director, Conyers Dill and Pearman, Mr. Alan Waring, Member of the Bermuda Insurance Development Council, Mr. Greg Wojciechowski, and Mr. William Woods.
This is the fourth consecutive year that Business Bermuda and the BSX – together with host law firm Bennett Jones LLP – have orchestrated this business development initiative, one that serves to further build on the already strong ties between the two jurisdictions.
“Once again, this event in Toronto served to strengthen the relationship between the business communities of Bermuda and Toronto and further Canada,” stated Mr. Greg Wojciechowski. “Our history of partnership and economic trade is the foundation for many successful business ventures in both jurisdictions. Through increased collaboration, as with the signing of the Bermuda-Canada TIEA in 2011, Bermuda and Canada can look toward a thriving future.”
Ms. Cheryl Packwood commented, “In the fourth year of hosting this Bermuda briefing, Business Bermuda is pleased at the opportunity to collaborate with the BSX to bolster the Bermuda brand in Toronto as well as continue the dialogue and discussion with Canadian business leaders that have led to innovation and excellence fostering so many new business opportunities.
“We are also very happy to have Bermuda’s Ministry of Business Development and Tourism represented to speak on the new and exciting developments that they are presenting to the international community this year.”
“Focusing on initiatives recently put into place, this year’s panel discussions served to support high level discussion on Bermuda and Canada’s economic partnership going forward. I am very encouraged by the potential that still exists between our two countries and am expectant of the mutually beneficial future prosperity that this relationship will ultimately provide.”
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