PRESS RELEASE
No: 173/2024
Date: 14th March 2024
STM Group Visit
The Hon. Nigel Feetham KC MP, Minister for Justice, Trade and Industry recently visited the offices of the STM Group, a multi-jurisdictional financial services group listed on the Alternative Investment Market (AIM) of the London Stock Exchange.
Welcomed by STM’s managing director, Peter Gatenby, Minister Feetham took the time to speak to staff on a one-to-one basis as he toured their newly refurbished premises on the 3rd floor at 55 Line Wall Road. STM employ approximately 45 people in Gibraltar with their business split into three parts, one part dealing with pensions administration and the other two parts dealing with life insurance.
The Minister for Justice, Trade and Industry, the Hon Nigel Feetham KC MP, commented: “STM Fidecs have a history that spans over 3 decades in Gibraltar and I am proud to have known them for many years. They are a key component in our financial sectors offering, with an established pensions division and linked long-term life assurance business. One of the GSLP/Liberal manifesto commitments is to diversify Gibraltar’s offering through bulk annuity and pensions solutions for the UK corporate/institutional market and businesses like STM could play a part in that diversification.
It was also insightful to engage with their employees, as I do on all of these outreach visits. With offices in the UK, Australia, Spain and Malta, this international business has an impressive number of employees in Gibraltar with varied skillsets. STM is an example of all of the different roles that are carried out by our financial services firms, with dedicated staff working on human resources and administration, marketing, compliance and finance sections of the business. I was also struck by their enthusiasm and I am hopeful that we will witness an increase in the number of eager, young, and local individuals joining the Financial Sectors in the years to come.”
Peter Gatenby, the managing director at STM Fidecs, commented: “We were very pleased to see a Government Minister take the time to visit our offices and meet the team. At STM we have known Nigel for many years and we are very impressed by the enthusiasm that he has brought with him into his role as the Minister for Justice, Trade and Industry. We are confident that he will be very successful in helping to expand and diversify the financial services sector in Gibraltar. From a personal perspective, I will be very happy to do whatever I can to support Nigel to achieve his objectives for the sector.”
ENDS
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