Bermuda’s business bodies complete merger
The Bermuda Business Development Corporation (BBDC), Business Bermuda and the Insurance Development Council have competed the legal process allowing them to merge.
The deal means all the organisations are now united in the newly formed BBDC. The newly formed board of directors appointed Caroline Foulger and David Cash as chair and deputy chair of the board.
“The merger of Business Bermuda and the Insurance Development Council into the Bermuda Business Development Corporation brings together the efforts of government and the business community under one roof to grow the Bermuda economy, provide additional support for international business and create new jobs in Bermuda which are vital to the success of our country,” said Cash.
“We appreciate the increased financial support of the Government of Bermuda and we thank the Government, the members of Business Bermuda and the IDC as well as our interim Board and the newly-appointed permanent Board members for their commitment of time, talent and energy to this effort.”
Foulger added: “Change is never easy. We recognise that the past months have been challenging as we have created a new organisation to transform the way Bermuda’s international businesses work together and with Government to grow the economy. This is a true public-private sector partnership that will chart a new more strategic, targeted and effective course for Bermuda to seize the opportunities and respond to the challenges we now face.”
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