Press Release
1 December 2016 - 9:22am

BVI Finance launched its 2017 to 2020 marketing and business development strategy at a private event at Maria’s by the Sea on 23 November, 2016.

The BVI Finance Strategy Update was held to inform local financial services industry decision makers of the plans BVI Finance has to further develop the Territory’s booming financial services industry. The update provided insight on the marketing and business development initiatives, and the progress being made as BVI Finance transitions to become BVI Finance Limited, a private company limited by guarantee to fulfill the role of financial services promotion and business development in a public/private partnership. 

The event opened with a gracious welcome provided by Interim Executive Director of BVI Finance, Mrs. Lorna Smith, OBE, where she re-introduced the staff to the audience and explained what their roles will be as the organisation transitions into a company.

Following the welcome, Permanent Secretary in the Premier’s Office and Chair of the BVI Finance Interim Board, Mr. Brodrick Penn shared an update on the status of BVI Finance Limited and divulged that it will become a reality in as soon as six weeks.

He also spoke on the significance of BVI Finance Limited stating, “The move to transform BVI Finance into a private company limited by guarantee signals a change in the relationship between government and the private sector, and illustrates the Government’s commitment to ensuring that the BVI remains a significant player in the financial services arena.”  

After the message provided by the Permanent Secretary, BVI Finance’s Head of Business Development, Mr. Gary Hales, took the stage to finally share the organisation’s plans for 2017 to 2020.

In Mr. Hales’ presentation, the 2017 to 2020 strategy was broken down into four parts – the strategic aims, 10 key deliverables, the new organisational structure and the benefits of membership.

Going forward, BVI Finance’s main three strategic aims are: to enhance partnership with key stakeholders; strengthen the results culture and build capacity; and align marketing and business development activities with the jurisdiction’s strategic priorities.

To accomplish these goals, the organisation has established 10 key deliverables which are:

  1. To establish clear rules of engagement with key stakeholders.
  2. To promote BVI Finance member services and products.
  3. To ensure the BVI Finance team has the necessary resources and skills.
  4. To deliver research projects.
  5. To establish a customer focused approach to business.
  6. To deliver an annual marketing plan.
  7. To deliver a media relations programme.
  8. To deliver a Business Development programme.
  9. To implement a digital communications programme.
  10. To implement a CRM system.

After presenting on the strategic aims and key deliverables, Mr. Hales revealed the new organisational chart, which now includes additional business development and communications roles, and shared the advantageous benefits of signing up for membership with BVI Finance Limited.

The membership benefits include frequent industry communications to keep members and their respective clients well informed on key issues; invitations to BVI Finance events hosted locally, nationally and internationally; discounted rates for attendance at events sponsored by BVI Finance; and access to an exclusive member’s only portal on the BVI Finance Limited website to name a few.

The start of the 2017 to 2020 strategy signals a new era for BVI Finance. The revitalised strategy is essential to the evolving collaboration between public and private sector, and will help to ensure that the BVI remains an internationally respected financial centre and a global leader in the provision of innovative financial services products.

Director of Tovel Investments, Mr. Walter Reich commenting on the success of the event, said, “We are looking forward to building on our relationship with BVI Finance as it transitions to become BVI Finance Limited. After seeing the 2017 to 2020 plans, I am confident that the organisation is going to make a significant impact ensuring the success of the jurisdiction as an international finance centre.”

For more in-depth information on the BVI Finance Strategy Update, including additional details pertaining to the strategic aims, new organisational structure and membership benefits, send an email to info@bvifinance.vg to request access to the presentation.

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Notes to Editors

  • BVI Finance is responsible for marketing and promoting the BVI’s financial services industry. More information can be found at www.bvifinance.vg, by contacting info@bvifinance.vg or by following BVI Finance on Facebook, Twitter and LinkedIn.

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