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SERVICE IS AT THE CORE of The Towner Management Group THE TOWNER (TMG). From its establishment MANAGEMENT two decades ago and its expansion and growth up to the present time, GROUP PLEDGE service remains the priority focus. Founding Chairman, TO BE AT THE Christopher Towner reminds: FOREFRONT of the “We strive to consistently offer International Financial service that exceeds your expectations – and hope to Services Sector. do so for another 20 years.” Prompt and efficient service As experienced managers, we by qualified and experienced are committed to maintaining managers is what the company the highest levels of aims to deliver to each and every professionalism, technology client, so that all clients feel they and integrity for the benefit of are getting total value for their money and that they can have our clients. confidence that everything is under control. We are dedicated to providing All managers and staff are on to our clients long-term board with this philosophy, and innovative management attentive, pleasant, personalized, services which respond to the excellent customer service is found changing demands of a at the start of every transaction, and remains at the heart of all dynamic international interactions. Thus TMG has built business environment. WITH TWO SUCCESSFUL DECADES behind them The Towner Management Group (TMG) team looks a solid reputation for quality (RC) ahead to serving you into the 21st year and beyond. management for its quality clients, assisting their successful alternative risk solutions to meet their diverse needs. management services that respond to the changing development with discreet efficient service. Whether in the USA or Barbados, the TMG team is demands of a dynamic international business Today, TMG’s international insurance clients gross committed to providing clients with innovative, long-term environment. almost US$1 billion in premiums annually, while gross revenues from non-insurance companies managed are THE ST. JAMES GROUP insurance and financial markets, approximately US$1.8 billion annually. As satisfactory (SJG) established in 2001 is the as well as fixed and variable as this is, Towner keeps on reaching for more for its sister company of The Towner annuity portfolios. President, companies and clients, to bring about even greater writing specialized lines of insurance Christopher Towner said that Management Group (TMG). Over achievements and success. in Europe, was established. the past 10 years it has grown to “St James is a work in motion, it is TMG is an independent, full-service insurance and In contrast to TMG, SJG seven companies with the latest dynamic in the nature of enquiries international management company, headquartered in through its various companies, addition in 2010, when NorseStar that it receives, but always Barbados, with a multi-domicile reach. Its management offers clients access to international Assurance SCC, a joint venture supported by TMG”. team and staff are dedicated to providing clients with
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CHRISTOPHER TOWNER bought the captive management subsidiary of Minet, a Top Seven global insurance broker in which he had been the domicile director, in 1991. This gave him what he considered “a humble footing” to establish The Towner Management Group (TMG), and subsequently its sister-organization The St James Group (SJG), in Barbados and to develop them into an independent collection of multi-faceted companies serving organisations and individuals worldwide. Some cynics may have thought he was joking when he started out 20 years ago on April 1, “with two desks, two chairs, a part-time secretary, and no clients”. However, he was not deterred by, as they say, “his reach exceeding his grasp” and kept sight of his goal. He immediately widened the net of services to manage both captives and international business companies (IBCs). Today the first company, Towner Risk Management Limited, is one of Barbados’ largest captive management companies, and combined with the management of other international business entities, the Group employs 28 fulltime staff in Barbados, with an average duration of eight and-a-half years’ employment. Under the umbrella of his parent company, Second Street Holdings, Towner also established a sister organization, The St James Group, in order to provide products and services to the personal wealth planning market. He explains: “I could see that the TMG brand name and product, while successful for corporate services, was just not quite right for the personal market, so I wanted a separate brand name for that range of products”. Over time, its seven companies were added, including both insurance and reinsurance entities. SJG presently employs a staff of five. Towner says: “One of the ventures we got into in St James was a joint venture with Prudential of America, whereby we held 51 per cent of the Barbados company, and they held 49 per cent. We assigned annuities purchased from Prudential in respect of structured
Never losing sight of goals settlements, and in the three years of operation we did US$166 million of business, taking one third of that market. Prudential decided for their own reasons to exit the business, but it was interesting for us, and of course an honour to be selected by such a reputable name as their joint-venture partner.” The developments have never stopped. He recalls: “I didn’t plan to become a captive manager in the United States, that’s a very tough market to break into, especially from all the way down in Barbados, but Guy Ragosta and Len Crouse, two highly respected professionals in the industry who were also good people whom I trusted, convinced me to establish links in the United States based on their perception of the strong brand image of TMG, and their own market knowledge. “Looking back, I never could have accomplished what I have without such quality people around me, in the United States as well as Barbados.” Today, the United States operations of TMG, started less than three years ago, employ a staff of seven and manage around US$500 million of clients’ gross premiums. TMG Barbados also manages clients with some US$1.7 billion of gross revenues in non-insurance entities, and TMG’s Barbados clients paid approximately US$17 million in taxes in 2010 to the Barbados Government. Towner notes: “Today our global company is anchored
FOUNDING CHAIRMAN Christopher Towner. (RC) by a growing team of specially selected, top-notch professionals and TMG and SJG continue to attract new clients and satisfy existing customers, whether corporate or individual. It’s especially rewarding when we get contacted to see if we can assist in a new business venture in the areas of insurance and financial services, particularly through the St James label. “On New Year’s Eve, I look forward to what the next year will bring, because I know it will bring ideas that I cannot begin to anticipate.” He has most certainly put Barbados on the world map as a leader in captive management and preferred financial services. Christopher Towner came to Barbados in 1975 to work for Coopers & Lybrand. He is a Fellow of The Institute of Chartered Accountants in England and Wales, The Chartered Association of Certified Accountants, and the Institute of Chartered Accountants of Barbados. He is also a past president of Barbados International Insurance Association, which subsequently merged into the Barbados International Business Association. Born in Northern Rhodesia (now Zambia), he holds British and Barbadian citizenships.
Congratulations on 20 years of
“experience, “ experience, iindependence ndependence a and nd e expertise.” xpertise.”
FirstCaribbean salutes the
on this significant milestone. From our family to yours,
Happy H appy 2 20th 0th
Anniversary Anniversary
FirstCaribbean International Bank is a member of the CIBC Group. The CIBC logo is a trademark of Canadian Imperial Bank of Commerce, used by FirstCaribbean International Bank under license.
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RICARDO KNIGHT joined The Towner Management Group (TMG) in 1994, bringing a wealth of qualifications and experience in financial services, which fuelled his ambition to rise even higher in his chosen career. The TMG President recalls, “I was young and working for a large, multinational actuarial firm with a big bureaucracy. When I talked to Chris Towner and he convinced me I would be working directly with him and that there was substantial growth potential in his companies, I was convinced it was the right move for me. My experiences through the years have lived up to my expectations”. In discussing the company he heads Knight says, “Chris has the type of vision and commitment that continues to inspire me and I appreciate having a leading role to perform in the expansion and continued success of the company. We provide services for clients in diverse areas including oil and gas, mining, transportation and insurance.” He further states, “Our business has an impact on the island’s tourism industry, as our clients travel here to conduct meetings throughout the year, staying at our luxury
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hotels and dining at the finest restaurants. “On the other side of the coin, we spend thousands every year promoting Barbados to potential clients as an ideal location for establishing business because of its stable environment and regulation and we directly market this island when we take trips abroad. For example we are taking a sizeable Towner contingent to the largest insurance conference in North America held in Vancouver, Canada, in May this year. Additionally, TMG will be hosting an anniversary dinner at a well known Vancouver restaurant.” Knight comments: “Our staff is very important to us and is the focal point of our organization”. He noted service is key and while many managers lose sight of the obvious fact that without well trained, qualified, motivated staff, a service company can’t be successful, TMG does not. Knight proudly boasts, “We have a very lively family and social environment at Towner, we are very supportive of staff and the many issues life can throw at any of us. We started off our year of celebration with a family church service at St James Parish Church and we have an annual staff day, quarterly lunches and
PRESIDENT of The Towner Management Group Ricardo Knight. (RC) monthly birthday limes all aimed at fostering team spirit.” The Towner Management Group is socially responsible and community minded. The President noted over the last four years the company and its clients have donated BDS$400 000 to charities on the island, The Salvation Army being a major recipient. He also noted their company’s clients have contributed BDS$56M in taxes over the last four years. During his career at TMG Knight has had the distinction of being the first Barbadian to serve as president of the Barbados International Business Association (BIBA). Subsequently he was appointed chairman of the Joint Policy Working Group for Barbados International
Business and Investment Promotion, a Government/private sector body that advises the Minister of International Business. He is a Fellow of the Chartered Association of Certified Accountants and the Institute of Chartered Accountants of Barbados. He is also currently president of the University of the West Indies (UWI) Alumni Association, Barbados Chapter and serves on the University’s Council, Audit Committee and Accreditation Committee. Knight is married to Kathy Ann and they have three children Ricardo Jr 14, Kiara 13, and Ryan 7. He keeps fit by practicing martial arts with Alleyne’s Martial Arts school.
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ALICE AUSTIN IS A VICE PRESIDENT at The Towner Management Group (TMG), having first joined in 2001. She is a Chartered Management Accountant with a Business Studies degree who relocated with her family to Barbados in 1996. Austin has over 30 years of financial and business management experience, both in Barbados and in London, England, and has expertise in the commercial property, retail, resort management, direct
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marketing, manufacturing and transport industries. She has held various CFO, financial controller and management accountant positions with some Internal Audit exposure. Her early clients at TMG were primarily manufacturing based and she currently provides management and financial services to an array of clients who require a Barbados-based international business company within their organisation.
VICE PRESIDENT ALICE AUSTIN (RC) Her job “is interesting due to the variety of work required as my clients come from a range of different industries. I am part of the Management and Financial Reporting Group and enjoy the family-like atmosphere here. It is a pleasure to be part of the team.” When she is off duty, Austin is busy with family life and spending time with her husband and two sons, and her mother-in-law who lives with them.
CONGRATULATIONS are in order for Senior Director — Global Risk Management and Insurance of Bombardier Inc., Daniel Desjardins, who made the Business Insurance’s 2011 Honour Roll. TMG manages Bombardier’s wholly owned subsidiary that is registered as an exempt insurance company.
Local Presence, Global Reach Our high performing people cut through complexity to deliver informed perspectives and clear solutions. Our global reach and cross-border approach help us to deliver practical advice and tangible, long-term value to our clients. Please contact any of our local Partners or Directors at + 1 246 434 3900 or info@kpmg.bb for more details. www.kpmg.bb
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KIRK CYRUS HAS BEEN A VICE PRESIDENT with The Towner Management Group (TMG) since March 2006. His previous experience in international financial services was with the Barbados office of a global competitor of TMG from 1998, prior to which he worked in public accounting with PricewaterhouseCoopers. In his current job he primarily works “in the active management of a portfolio of foreign owned insurance companies that are domiciled in Barbados but I am also involved in new business facilitation.” Cyrus is very proud that TMG has used Barbados as its base “because of its infrastructure, technology, stability and peaceful environment”. “Within our industry we consider ourselves ‘ambassadors’ for Barbados and promote the island in many ways. For example, we will be participating in an Insurance Risk Managers’ conference in Vancouver early next month. This will provide us the opportunity to interact with current clients and business associates, while providing the further opportunity to establish new relationships. The product that we sell is always Barbados focused and the very best example we can provide is the service excellence of our Barbadian born and educated workforce.” He is full of ideas for how “Barbados can use its intellectual capital to stimulate growth in international business” and sees this as a way of simultaneously increasing business tourism, which he regards as “more sustainable,
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bringing in additional foreign exchange, but not having as great an impact on our natural environment.” Cyrus is a sports enthusiast and former club cricketer, who spends quality time with his wife, Colleen and two sons, Matthew and Marc and notes that his relationship with God keeps him grounded.
LOIS INNISS IS A VICE PRESIDENT with The Towner Management Group (TMG) and VICE PRESIDENT KIRK CYRUS. (RC) first went to work there in June 2001 as a Client Accountant where she served in that position for a couple of years before being promoted to her current position. She explains: “I work primarily with international business companies (IBCs) and societies with restricted liabilities (SRLs) and am supported by the client accountants in the GREGORY SMITH IS A VICE Management and Financial PRESIDENT with The Towner Reporting Group.” Management Group (TMG), with A graduate of the University responsibility for managing a portfolio of the West Indies with a BSc. of international insurance Companies. Hons. in Accounting, she worked He began work at TMG in December in an auditing firm for six years 2002, having previously worked in the where she pursued the ACCA Barbados office of a global competitor of VICE PRESIDENT GREGORY SMITH. (RC) designation before coming to TMG, prior to which he worked in Whereas much of the business is TMG. She has since done her public accounting with Coopers & conducted using technological ICSA designation, which Lybrand now PricewaterhouseCoopers. communications, Smith notes: “We often qualifies her as a Chartered With over 15 years experience in have face-to-face meetings and I do get Secretary. providing management services to to travel, mainly to North American Inniss says: “I find my job to companies in the international business clients.” be very interesting. Towner is a sector, he is a member of the Certified He smiles when asked if he likes his good place to work — with its General Accountant’s Association job and says: “I look forward to coming supportive environment — and I (CGA) and an Associate in Captive to work every morning and consider my have also seen many positive Insurance (ACI). working environment as one of the changes as the company has He said that his job “affords him the perks of my job, the office has a very grown over the years. privilege of liaising on a daily basis with family oriented environment.” “It is good to be part of this senior executives in large multinational A father of four sons, two of whom company. The annual staff corporations”. He further states that live with him, he is busy both on and off appreciation day is one highlight “working in a multi-client environment the job. He is also a member of the for me as we focus on team provides many challenges, in particular, Wadadah Club, representing them in building in a relaxed prioritizing requests from many Masters soccer which helps keeps him environment.” demanding clients.” fit. The mother of a two-year-old,
VICE PRESIDENT LOIS INNISS (RC)
she is expecting another bundle of joy and is involved with her church.
SHARON COYLE IS A VICE PRESIDENT with The Towner Management Group (TMG) responsible for Compliance and Client Relations. She originally joined the Group in July 1998 as office manager. She says: “Christopher Towner had the vision that I would perform well in the compliance role and I was appointed manager of Compliance and Client Relations in 2001.
THE ACCOUNTING AND CORPORATE TEAM: From left (sitting): Account Manager Lisa Williams, Senior Corporate Administrator Richard Barrow; and Client Accountant Alicia Alleyne. From left (standing): Junior Corporate Administrator Joanna Bascombe, Client Accountants Latisha Moore and Ophelia Joseph, Corporate Administrator Simone Tudor and and Client Accountant Robin Greaves. Inset are Secretaries Lianna Aimey (left) and Cheldeane Miller, who support the Accounting and Corporate Team. (RC)
“Following this appointment, I completed the International Diploma in Compliance, UK and I VICE PRESIDENT SHARON COYLE, sitting, in discussion with Compliance Assistant Charmaine Thompson. (RC) am a member of both secretary with an well as The Holetown the International accounting firm and then Strategic Emergency Compliance Association as office administrator of Committee.” and the Barbados the Barbados subsidiary She admits it is Association of of an international firm sometimes challenging to Compliance providing administrative keep the balance in her Professionals.” services to captives and life but “as I am Prior to joining TMG, international business passionate about my Coyle worked as a companies. career and my family life She has responsibility with my husband and two for all clients with regards boys, I do ensure quality to quality control in the time off the job.” provision of services and ensuring compliance with Government regulations, including completion of due diligence reviews and other matters related to anti-money laundering regulations. Coyle is supported by Compliance Assistant Charmaine Thompson. She says even though much of her job is about documentation, “the client relations aspect means interacting with clients and this adds value to what I do. My job is interesting especially as I am involved in our Disaster and Business Continuity Committee as
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MANAGER — ADMINISTRATION AND ACCOUNTS FELICIA LEWIS (front left) and her team. Back row, from left: Obelisha
MANAGER — CLIENT SERVICES SHARON WALCOTT, (standing), going over a document with her Administrative Assistant Ingrid Archer. (RC)
SHARON WALCOTT joined The Towner Management Group (TMG) in 1996 as receptionist, but having a good working knowledge of financial services because of her prior job at then Coopers & Lybrand now PricewaterhouseCoopers. She recalls: “I did my CPS in 1997 and I learned a lot on the job as it was a smaller staff in the earlier days, everyone had to help in all areas and I am a multi-tasker and always eager to learn. As TMG grew we created departments to streamline functions. It is an ever-changing environment and that makes work very interesting.” Walcott has since been promoted to Manager – Client Services, which
means “dealing with clients in Canada and the United States as well as banks and all the related financial services. I have to be on top of offshore regulations and other financial rules. Clients can be doing business in mining, gas, diamonds, manufacturing, you name it. This makes the job exciting and one in which you continue to expand your knowledge.” She is supported by administrative assistant Ingrid Archer. When Walcott is off the job, spending time with her husband and family is paramount as the raising of her two sons is a major responsibility. She likes reading and going to the beach for relaxation.
FELICIA LEWIS began working at The Towner Management Group (TMG) in 2002 as Manager of Administration and Accounts, with responsibility for financial reporting, office administration and some human resource functions. She had years of experience doing similar tasks and has completed intermediate level Certified General Accountant exams. She recalls: “Since I began working here I have automated some systems and implemented many changes to make reporting easier and quicker.
Maynard, Jennifer Belgrave, Joy-Ann Brandford and Anne Vidal. In front at right is Keisha Prescod. (RC)
However, making changes in this company is part of our way of working as one has to be flexible and responsive to the changing demands of business. My role is very exciting as although we appear to be a small company in Barbados, we have a wide reach with our offices in Vermont and New York and many clients in different parts of the world. The team here is phenomenal and I am very appreciative of my support staff: Secretary Joy-Ann Brandford, who is responsible for Human
Resources as well as providing administrative support to the President Ricardo Knight, Receptionist Keisha Prescod; Administrative Assistant Jennifer Belgrave who is responsible for IT and equipment; Accounts Assistant Anne Vidal; and Obelisha Maynard, the long-service office cleaner and messenger.” Off the job Lewis is kept on her toes by her two-year-old son. She keeps fit with Zumba exercises and also enjoys spending time with family and friends.
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STAFF, family, and friends giving thanks at the St James Parish Church in celebration of The Towner Management Group’s 20 years in business. (RC)
TMG MANAGEMENT Egypt, she met and AND STAFF gave thanks married Eric Towner, and for their company’s 20 they went to live in years of business at a Northern Rhodesia, where church service at St James their son Christopher was Parish Church on April 3. born. It was attended by After working in the management and staff Colonial Service, including with the notable exception a two-year secondment to of founding Chairman Grenada as Financial Christopher Towner, Secretary and serving as who was in Guernsey, Under-Secretary of Finance Channel Islands, for his at the time of Zambia’s mother’s birthday. Independence, Eric and his Dorothy Towner, a wife returned to England former sometime resident in 1965 and moved to of Barbados, celebrated her Guernsey in 1969. 100th birthday on April 4. Prior to Eric Towner’s Joining the mother and death in 2006, the couple son celebrations were her maintained a home in nephews Howard Burgess DOROTHY TOWNER, who St Peter in Barbados and and Air Marshall Sir Tim celebrated her 100th birthday prior to his retirement had Jenner, who both came in on April 4, holding a card she regularly holidayed there from England, and her received from Queen Elizabeth. also. niece Kathleen Kimura Although she can no (GP) MBE who came over from longer make the journey to San Francisco, together with local friends. Barbados, Dorothy commented that she Dorothy recounted how she was born in missed the island, and often thinks fondly the north of England’s Lake District, and of her times here. She also enjoys an after serving in the WRENS during the occasional Doorly’s Old Gold to bring back Second World War, including a stint in the memories.
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THE TOWNER MANAGEMENT GROUP (TMG) in Barbados is the hub of a global organisation that also has licensed domestic captive management companies in, Vermont and New York. It is also approved to carry on captive management services in South Carolina, District of Columbia, Utah and Arizona. Guy Ragosta started the United States operations in 2008 and with Len Crouse and Tom Stokes they lead the company’s United States captive insurance and consulting business. Ragosta is chief exectutive officer (CEO) and partner of TMG’s United States operations and has almost two decades of experience in captive management. Most recently as CEO of Marathon Health, he was previously the regional
executive director for Willis’ Captive, Actuarial Pooling Solutions (CAPS) division for a dozen years, helping to establish an international consulting network with 14 offices in the United States and Caribbean. Prior to joining Willis, Ragosta served as director of financial services to the Vermont captive insurance industry for KPMG Peat Marwick and was a director of Tax Services for Ernst & Young. Stokes is managing principal of TMG (NY) LLC and consulting practice leader of TMG’s United States operations. He was most recently Managing Director and Practice Leader, Risk Finance Consulting for Aon Global Risk Consulting (AGRC). There he headed up the alternative risk arm of AGRC’s business. Previously, Stokes was Managing Director for Willis’ office in New York. Additionally, he has completed a condensed Harvard MBA programme for corporate executives and is a member of the Tax Incentives Institute. Principal of the Group, Len Crouse, is a long-time captive insurance regulator EVEN IN THE MIDST of economic challenges being from Vermont. faced by Barbados and its major trading partners, the Prior to joining TMG, Crouse was Deputy Barbados international business sector continues to Commissioner and Director deliver an enviable performance. of Captive Insurance for According to information provided by the Ministry Vermont department of of International Business, the Central Bank, and the insurance for most of the past Supervisor of Insurance Office, at December 31, 2010, two decades. Barbados recorded its highest number of active During his tenure there, international businesses ever, and new registrations Vermont grew to become the for the calendar year 2010 exceeded those for the second largest domicile in the previous uear by 7.2 per cent. world, as measured by total At the end of December 2010, Barbados was the written premiums and its domicile for 3 889 active international businesses, as captive regulations became a compared to the 3 746 on the books at the end of 2009. model for regulators Of those 3 149 were International Business Companies throughout the United States. (IBC) and 165 were Exempt Insurance Companies (or A writer and speaker on captives) some of which were under management by captive insurance, he was the 23 captive management companies responsible for presented with a lifetime managing the daily operations of such entities. The achievement award by the depth of the industry has kept Barbados within the Captive Insurance Top 10 captive insurance domiciles across the globe. Companies Association Key to Barbados’ success in this area are (CICA) in 2007. diversified management companies such as the With founding Chairman Towner Management Group (TMG) which has of TMG Christopher Towner played a pivotal role in the development of this island and President Ricardo Knight as a jurisdiction of choice of IBCs and EICs. anchoring the Barbados Two decades ago when TMG was founded by operations and the United Christopher Towner, the captive insurance business in States team combining their Barbados was finding its feet, initiated through the years of knowledge and passage of the Exempt Insurance Act (Cap. 308A) of experience as well, the Barbados in 1983. TMG formed an important fillip in companies within the group this area and continues to provide essential functions are well poised to help guide as manager for several international entities. risk financing matters in a The role of the local manager is to provide active unique and thorough way, management and know-how for the local subsidiary giving a global reach with a on behalf of the international parent company. The “local touch.” attractiveness of Barbados as a jurisdiction of choice is While maintaining complete independence largely dependent on a high level of local expertise, TMG keeps up to date with with wide-ranging skills, thus operations can be ably regulations and changes in and expertly managed. By businesses such as TMG the market and constantly employing Barbadians here, to manage international makes adjustments, companies, it also plays a role in lowering the remaining flexible and agile numbers of qualified locals who might otherwise in approach, but having the have gone overseas to secure jobs abroad. stability of sound financial Barbados, however, needs to continue to operate in expertise to keep its clients a competitive manner in this sophisticated globalised focused on their goals, environment, to remain in the Top 10 of international whether as individuals or financial centres. — from BIBA’s Secretariat companies.
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APRIL 17, 2011
STACEY JOHNSON IS THE VICE PRESIDENT of The St James Group (SJG), sister company of The Towner Management Group (TMG). When she joined the Group in 2008, she already had 15 years’ experience in the financial services sector, specializing in captive insurance management and is a qualified Certified General STACEY JOHNSON, VICE PRESIDENT of The St. James Group, (sitting), Accountant. CLARK HOLLANDS, with her team. Standing from left She explains: “I love my are Shurlane Taitt, Roslyn Stewart Director of The St. work here because I have James Group (SJG) and Sonia Norris. (RC) more responsibility and and a friend and In contrast to autonomy than in my previous jobs. There business associate TMG, which mainly are seven companies in the SJG and the of TMG and SJG provides captive Group provides resource support to a for many years. (RC) insurance and number of persons and entities.” management services, SJG through its various companies offers clients access to international financial markets, as well as fixed and variable income investment portfolios. Together, the two Groups work SHEIK AHMAD IS THE to facilitate all insurance and investment VICE PRESIDENT, needs and help clients plan their wealth Business Development, risk protection and development strategies. with The St James Johnson, like the VPs in TMG, Group (SJG), following participates in Management Committee his running a previous meetings and works directly with subsidiary, a joint founding Chairman and President of SJG, venture between The St. Christopher Towner. She notes: James Group and “Teamwork is very important and we Prudential of America. could not be the success that we are He’s been with SJG since without it; indeed my team is invaluable to 2006. SHEIK AHMAD, me.” He is a fellow of ACCA VICE Her team includes Client Accountant and his experience spans PRESIDENT Roslyn Stewart, executive assistant Sonia the banking, professional with Norris ; and Shurlane Taitt, office cleaner services and business The St James and messenger. The SJG website may be development. Group. (RC) accessed at www.stjamesgroup.com. His work at SJG involves “developing partnerships with other companies to form joint venture collaborations, in the international business sector, and promoting the core business of the group; Wealth Planning and Asset Preservation”. His present responsibility has a particular focus on structured settlement assignments specializing in attorney fees. One of the appealing factors of working for SJG, Ahmad said, is that “within the rigid standards and demands of the international business sector, SJG allows you to perform in a flexible environment .” During his tenure as business manager of the Prudential joint venture, that company took one third of the US market. “This gave me a tremendous opportunity to see how a large US company functions,” he said, “and the discipline towards financial management and the setting and achieving of goals, not to mention the in-depth market exposure to brokers and other market servers within the US”.
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TMG STARTED from two rented rooms in what was then Robertson Ward’s offices in Second Street, Holetown. With business starting very slowly at first, Christopher Towner had to cut costs and moved into some spare space in the late David Allison’s offices on Bay Street. Soon after, the clients started coming in, and when the Robertson Ward building came up for sale, Chris quickly persuaded a client to buy the building. Ironically, the client who bought the building was the world’s second-largest group of funeral homes, and the building is on the site of the former home of the owner of Hutson’s Funeral Home, which was situated at the end of Second Street on the corner of Highway 1. The grandson of that funeral director is today our Minister of International Business, The Honourable George Hutson. When the client subsequently went into Chapter 11 in the United States, Towner bought the building, then named Loewen House, off the administrators and re-named it St. James House. “This building is lucky for me” he said, “I don’t foresee a day when I won’t be based from here”. From this location in the old section of historic Holetown he derived the name for his umbrella holding company, Second Street Holdings. Because the building is filled by the TMG staff, The St. James Group is located above Royal Bank of Canada across the street from the Holetown Police Station.
A WELL-DESIGNED, STYLISH STAIRWAY leads to the upper floor. (RC)
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