- Global Network
- Caribbean
- Nassau
Global Network · Caribbean
Nassau
Nassau is the booking centre for private wealth. US$356 million of the US$842 million client portfolio is booked through Bay Street Pavilion, the largest concentration anywhere in the network. Twelve of the sixty-one family relationships are covered from the office. Beatrix Oduya-Ferrante, Head of Private Wealth, works from the sixth floor with the eight people based there.
The centre books; it does not hold. Positions are registered to IGUAKO Nominees (Bahamas) Ltd. with third-party custodians, and Bay Street Private Trust Company Ltd. acts where a family holding structure requires a trustee. Every family has a named relationship holder and a named alternate, both recorded in the mandate file and both reachable by the client.
Reporting is the heaviest load in the building. Statements, valuations and fee disclosures are produced monthly and reconciled to the custodian records before release. A client may ask which decisions in a mandate were model assisted, and the answer is prepared in Nassau. A request for a human decision reaches the relationship holder within one business day.
Functions
- Booking centre for the Private Wealth & UHNW division
- Family relationship management and mandate documentation
- Trustee and nominee services through the Bahamian companies
- Custody instruction and reconciliation for booked positions
- Client reporting for the families covered from the centre
Office lead
Constance Lindgren-Abubakar, Head of Office, Nassau