BVI Finance, the voice of the British Virgin Islands’ financial services industry, has recruited Gary Hales as its new Head of Business Development.

Mr. Hales joins from Jersey Finance where he was Business Development Director for over four years with a particular focus on the Gulf Cooperation Council and India.

In his new role Mr. Hales will be responsible for helping to generate new business for the BVI by drawing upon his expertise and experience from working at Jersey Finance. As well as promoting the BVI as a leading international finance centre, Mr. Hales will also support initiatives aimed at maintaining and developing new relationships with key stakeholders locally and internationally.   

His appointment comes at an important time, as BVI Finance transitions to BVI Finance Limited – a new a public/private partnership that will see the creation of a new structure and a private company. The new entity, which will take over from the existing BVI Finance, aims to better support financial services promotion and business development. Mr. Hales will play an important role in driving growth of this new body, once it goes live in January 2017. 

BVI Finance Limited is part of a wider Government initiative known as BVI Forward which also aims to strengthen and reposition the financial services industry. This follows McKinsey’s December 2014 report Building on a thriving & sustainable Financial Services sector in the British Virgin Islands which recommended building a best-in-class and robust marketing function.

Mr. Hales brings a wealth of experience having worked in the banking and financial services sector for more than 20 years across the UK, Europe, Middle East, Asia Sub-Saharan Africa and Russia/CIS.

Commenting on the appointment, Lorna Smith, OBE, Interim Director of BVI Finance said, “I am delighted that Mr. Hales has joined BVI Finance and I believe that he will play a key role amongst a wider team in helping to continue promoting the BVI as a place to do business. Having built a leading international finance centre over the last 30 years, based upon the core pillars of a world-class governance and regulatory structure, as well as a business-friendly environment, he joins at an exciting time as we look towards the future with great optimism and the launch of BVI Finance Limited.”

Gary Hales, the new Head of Business Development added, “The BVI is a renowned international finance centre and plays an important role in global trade and investment. I am therefore looking forward to identifying and unlocking new business opportunities for the jurisdiction and its successful financial services industry, particularly by promoting products and services to international stakeholders.”

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.