19 February 2014 Insurance

Cash takes reins at BDA as CEO resigns

David Cash, the former chief executive of Endurance Speciality, is to take the reins of the Bermuda Business Development Agency (BDA) after the body’s chief executive stepped down.

Stephen Lund, the existing chief executive of BDA, has resigned and will step down on February 28. Cash will take the role on an interim basis. He had previously been serving as deputy chairman of the body.

“We are grateful to Stephen for his service to the BDA and we thank him for his contributions to the organisation,” said Caroline Foulger, board chairman of the BDA. “The BDA is greatly changed from when Stephen joined the organisation and he leaves us much strengthened from the time of his arrival. We acknowledge Stephen’s personal decision to return home to Canada and we wish him well in his future endeavours.

“Turning to the future I am pleased to be able to announce that David Cash, the BDA’s deputy chairman, has agreed to serve as interim chief executive officer to allow the BDA board of directors time to appoint a new chief executive officer. The search for a suitable replacement is already underway and we are confident that the BDA will not miss a beat through this transition.”

Cash commented: “I respect Stephen’s decision to return home to Canada and his family and I wish to thank him for all his efforts to make this transition as seamless as possible.  Stephen has put in place a terrific group of professionals at the BDA and I am looking forward to working together with this team to execute our business development strategy in the marketplace.”

Cash has been involved with the promotion of Bermuda’s international business sector since 2009 when he joined the board of directors of Business Bermuda. He took over as the chairman of Business Bermuda in March 2011 and is a founding member of the board of directors of the Bermuda Business Development Corporation. David is the former CEO of Endurance Specialty a Bermuda based international insurance and reinsurance company.

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