MAPay, a US firm with its headquarters in Hamilton, has signed up with fintech company Algorand to create a stablecoin and use its partner’s blockchain technology to process about $800 million in healthcare charges in Bermuda as well as improve efficiency around the world.
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Global leaders in the technology field will convene in Bermuda next month for the third annual International Technology Summit. The March 7 to11 event is spearheaded by Penrose Partners, a Canadian and Bermudian blockchain advisory firm.
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The Bermuda Tech Summit is presented by the BDA, in partnership with government’s Economic Development Department (EDD) and FinTech industry association, NEXT Bermuda.
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Bermuda Tech Week recently started off with an event that “weaved together a blend of sport, innovation, creativity and community.” A spokesperson said, “After a three year hiatus of in-person meetings, Bermuda Tech Week started off at an unlikely location that exemplified a shift towards community, culture, and social impact.
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An idea to combine the Government’s emphasis on vertical farming with the future of Bermuda’s cash-strapped football clubs has been hailed by an international football legend. A 40-person thought leadership round table, hosted by the Bermuda Football Association, focused on the concept of establishing a network of small-scale vertical farms at local football clubs in Bermuda.
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Recognised: the Savoy magazine coverage of Pauline Richards as one of the world’s most influential black corporate directors Pauline Richards has been named one of the world’s most influential black corporate directors by Savoy magazine. The US publication compiles an annual list of heavy hitters. Mrs Richards, the chief operating officer of
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Bermuda’s controversial contract to build a new airport terminal has won an international “deal of the year” award. The public-private partnership (PPP) contract was awarded 2017 North American Deal of the Year at a ceremony in New York organised by London-based IGlobal
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Reaching Solvency II equivalence with the European Union is a badge of honour for Bermuda that other offshore jurisdictions are unlikely to achieve. That view was expressed by Bob Richards, the finance minister, during an interview at the Risk and Insurance Management Society conference in San Diego, California, this week.
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In 2018, Bermuda established world-class regulations governing digital asset business to help diversify the economy and embarked on a business development campaign around the world that was spearheaded by the Premier,
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BAM is a critical partner in success for MAPay as we explore opportunities and build relationships around the world. Kevin’s focus, due-diligence and expertise bring real time results and proven leadership, repeatedly. We are confident in BAM’s ability to drive outcomes to the next level.
I personally could not have executed any of these steps of incorporating Fly Air International LTD and the Token’s compliance without the help from Bermuda Asset Management. They have effectively formatted our steps and also paired us up with the right entities to be successful. We are happy to be working with such a skilled professional team like BAM.
BAM has proven to be a partner valuable to our success as we continue to explore new business opportunities created by a rapidly changing technological environment. They are incremental thinkers with deep knowledge that our team depends on. The BAM team are great at listening to our problems, providing solutions, and introducing us to key partners that can bring our ideas to fruition.
The Hon. Everard Bob Richards, J.P. M.P., former Deputy Premier and Minister of Finance of Bermuda, started Bermuda Asset Management, the first independent asset management company in Bermuda in 1987.
Prior to founding BAM, Mr. Richards worked in banking in Canada and Bermuda, was a General Manager at the Bermuda Monetary Authority (BMA) and an Investment Manager at Shell Trust Bermuda. In 1997 Bob Richards was appointed to the Bermuda Senate, where he served as Government Leader in the Senate and Minister of Telecommunications. He was elected as a Member of Parliament in 2007 and became Minister of Finance in 2012.
Mr. Richards has also served on public sector boards including the Bermuda Hospitals Board, the Bermuda Monetary Authority, the Public Funds Investment Committee, the Bermuda Association of Securities Dealers, and the Economic Council. He was the Deputy Chairman of Cellular One Bermuda, President of Bermuda Information Technology Services Ltd. and is a Fellow of the Institute of Canadian Bankers.
Mr. Richards recently authored the “Bermuda, Back from the Brink” and “Triangle of Treason” and sits on the Investment Committee of the UK P&I Club and the Osisko Bermuda Boards.
Mrs. Pauline Richards has been a Director to Bermuda Asset Management (BAM) since its inception in 1987 and serves as an Independent Director for several publicly listed companies. Her extensive financial background and exceptional leadership experience provide these Boards with financial accounting and management expertise.
Mrs. Richards currently serves as a Director to Wyndham Worldwide Corporation, Apollo Global Management, LLC, and Hamilton Insurance Group, Ltd. Her service as Director and member of the audit committee of Wyndham Worldwide Corporation and Apollo Global Management brings valuable experience on financial reporting matters that are critical to the Board's oversight role.
From July 2008 to December 2019, Mrs. Richards served as Chief Operating Officer of Trebuchet Group Holdings Limited (formerly Armour Group Holdings Limited), an investment management company and Director to Cendant Corporation from March 2003 to August 2006.
Mrs. Richards was the Director of Development at the Saltus Grammar School, from November 2003 to July 2008; CFO at Lombard Odier Darier Hentsch (Bermuda) from January 2001 to March 2003, a trust company business; Treasurer of Gulfstream Financial Limited, a stock brokerage company, from January 1999 to December 2000; and served Aon Group of Companies, Bermuda, an insurance brokerage company, in senior positions from 1988 through 1998 including Controller, Senior Vice President and Group Financial Controller and CFO.
Mr. Kevin Richards is a dynamic leader with a passion for sustainability, mobility and fintech. With over 15 years of experience in financial services, he brings a wealth of international experience to companies looking to scale their businesses globally.
Mr. Richards currently serves as the Managing Director of Bermuda Asset Management (BAM), where he is focused on investment advisory and building circular economy ecosystems built on a renewable energy foundation. He is also the Founder of BAM Tech Advisors, providing advisory and non-executive directorship services to Family Offices, Fintech, DeFi & Digital Asset businesses, and Shipping and Aircraft businesses and registries.
Mr. Richards is a Member of the Institute of Directors (IoD), a Director of the Bermuda Shipping & Maritime Authority (BSMA), Chairman of the E-Commerce Advisory Committee (ECAB) and Member of the Currency Standard Initiative to the Bermuda Government, Member of the Bermuda Business Development Agency (BBDA) Legal & Regulatory Subcommittee, Co-Founder of the Bermuda Innovation & Technology Association (BITA), and Member of the Irish Angels investment group.
Mr. Richards is a graduate of the University of Notre Dame Undergraduate and Master’s programs, with a double major in English and Political Science and an M.B.A. focused on sustainability and entrepreneurship.
Mrs. Bella Richards is an expert in Marketing, Communications and Graphic Design. Her 15 years of experience range from working for a Toronto brand marketing agency; Communications Officer for a conservation agency; Marketing and Communications at a global corporate law firm; Creative Manager for a leading Canadian retailer; and Marketing Manager for a global tele-health benefits provider.
Mrs. Richards led the Marketing and Business Development strategy for a leading global fiduciary company in 2016 and became the Client Services and Business Development Manager at AAC Saatchi & Saatchi, an established advertising and design agency in 2018. She has managed large marketing campaigns, strategy, web and digital projects, re-branding/ identity, design direction for advertising, print collateral, as well PR campaigns and various brand launch events for her clients.
Mrs. Richards' creativity and attention to detail has been instrumental in the planning and execution of customer events, brand launches and promotions in San Francisco, Vancouver, Toronto, Calgary, Bermuda and New York.
Mrs. Richards is a graduate of the University of Toronto and Sheridan College Honours Business Management program. She is also an avid painter and has partnered with local galleries and clients to teach art workshops to the community.