The Bermuda Business Development Agency (BDA) board has unanimously elected Michael Hanson, of Carey Olsen, to be its new chair, with Susan Pateras, Chair of Apollo Bermuda, as the BDA’s deputy chair.
The vote came at the BDA’s annual general meeting and board of directors meeting.
Hanson, managing partner of Carey Olsen Bermuda, commented: “Like many organisations, the BDA has had to weather extraordinary circumstances over the past 12 months. So, in that context, I would first like to recognise the incredible BDA employees, who have been exemplary in their relentless focus on our mission to grow and diversify the Bermuda economy.
“The Board recognises their efforts, and we take very seriously our collective mandate to positively impact inward investment into our island’s economy. We continue this mission with significant intent.”
The BDA provides support to Bermuda’s insurance and reinsurance industry. It encourages direct investment and helps companies start up, relocate, or expand operations in their jurisdiction.
Hanson also thanked some Directors who rotate off the Board this year at the completion of the prescribed six-year terms.
He said: “On behalf of the entire BDA, we thank Stephen Weinstein for his years of service, particularly for his last two as Chair when he helped to steer the organisation through strategic and operational changes that positioned the BDA to continue and enhance its vital mission.
“Stephen’s passion and vision to maintain and expand Bermuda’s global (re)insurance leadership, to establish Bermuda as a climate finance capital, and his tireless energy in organising our inaugural Bermuda Climate and Risk Summits are well known to many.”
“We also thank Andrea Jackson for her consistent and strong advocacy for over six years in the Private Client and High Net Worth sector. Andrea will be sorely missed – as will Barclay Simmons, whose assistance on the financial challenges of COVID 19 proved invaluable. Stephen, Andrea and Barclay continue to be huge supporters of Bermuda and will remain engaged in the BDA’s important mission in various other capacities.”
The BDA also welcomed Stuart Lacey to the Board. Lacey is the current chief executive of Summit Junto, a global community of innovators, leaders, change makers and visionaries bound through carefully curated forums and advisory boards to maximise impact and positive change.
Prior to this, he spent over two decades founding multiple class-leading businesses, where he applied his leadership experience in the C-Suite of global financial and technology markets, developing a keen eye for identifying talent, growing successful teams, and harnessing technology to create innovative, global solutions.
Most recently, Lacey co-founded the Bermuda Clarity Institute, a premier executive leadership, management consultancy and experiential training institute in Bermuda that drives performance by providing organisational clarity.
