•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

Bailey McCann, Opalesque New York:

The Bahamas have long been a destination for high net worth individuals seeking to manage their wealth offshore. Now as the Commonwealth looks toward expanding its role in the investment industry, the concentration of private wealth already on the ground is going to support new ventures and capital formation. Delegates that the recent Opalesque Bahamas Roundtable discussed how the cluster effect is working on the ground.

"The Bahamas have a very healthy and growing cluster effect because of our early focus on private wealth," said Ryan Pinder, Partner at Graham Thompson and former Minister of Financial Services and Trade for The Bahamas. "We got a very visible boost when Sir John Templeton decided to build his international component of what is now Franklin Templeton from within The Bahamas many decades ago."

Pinder points to several local development and infrastructure projects which have been supported by local ultra high net worth individuals and families. "The Bahamas are really unique, I actually call it the Cluster of Benefits: You have long-standing political stability and a long-standing financial stability, so we don't have a history of significant volatility in the banking and finance sector," he adds.

The city of Nassau is also becoming a local financial hub. "There is this fruitful cross-section of activity that is available in The Bahamas for foreign high-net-worth individuals and other foreign residents who move......................

To view our full article Click here