This story is reproduced by kind permission of the Royal Gazette at http://www.accessbda.bm
A trust company set up in Bermuda by the Gibbons Company, and dealing with tens of millions of dollars, could soon see massive expansion through the Caribbean.
Gibbons Trust Company was set up three years ago to deal with individuals and companies who had investments or business deals with one of Gibbons Company's subsidiaries.
And, while the division is growing at a steady pace, the parent company believes the venture has potential to grow and rake in business from around the world.
They also see that this sector could take advantage of the latest technology to do business over the Internet and expand the company's trust work.
The company has just advertised for a president and chief executive officer to head up the business and take it to the next level.
The current president Tom Gibbons will move up to the position of chairman, and help the transition of the incoming president. At present Sir David Gibbons is chairman.
"It is really a very exciting opportunity," said Mr. Gibbons, who also heads up the Gibbons subsidiary Colonial Insurance. "The person who comes in will be given a lot of scope to expand the business."
At the moment the company deals with different kinds of trusts from a local Bermudian putting their house into trust - which could vary from $500,000 to $1 million to corporate trusts which deal in tens of millions of dollars.
The Gibbons Company already does business in many Caribbean islands and would like to expand the trust venture to these companies.
Mr. Gibbons said: "Whomever is appointed will be given a free rein.
It is a very interesting opportunity for those involved in the trust world.
Some trust departments can be stuffy, and not very adventurous.
"Here if people have ideas, they will be welcomed."
Mr. Gibbons said that the person who is appointed will be able to work with MP Grant Gibbons on developing e-commerce trusts.
The ideal candidate will be well versed in trusts and executorship with a minimum of five years' experience in trust management.
The advert states: "This is an excellent career opportunity for an individual looking to capitalise and build on a well-grounded small trust company with significant potential."
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