Local Innovation, Global R ecognition
The Bahamas has long been a prominent
Cornèr Bank (Overseas) Ltd’s CEO,
For Bahamas-based investors less eager
financial hub in the western hemisphere,
Christine Russell — a Bahamian national
to dive into markets unassisted, Cornèr
thanks to its proximity to both North and
herself, and a seasoned veteran of
Bank (Overseas) offers additional types
Latin America, its stable democracy, and
the Bahamian financial sector — best
of accounts alongside its Cornèrtrader
favourable tax environment (though no
articulates the significance of this
platform that provide users with
doubt the gin-clear waters, bone-white
achievement:
assistance and recommendations tailored
beaches, and balmy weather played a role as well). Without taxation on capital gains, inheritance, or income, The Bahamas has been a private banking nexus for decades — the benefits of which had only been available to foreign residents. Despite
to their preferences. Holders of Investment
“The advent of Cornèrtrader marked a milestone in Bahamian financial culture, as it empowers Bahamians like never before. For the first time,
serving wealthy foreigners in the country’s
we gave Bahamians and residents
extensive financial services industry for
alike the opportunity to engage in any
more than half a century, Bahamians
of the world’s major stock exchanges
had been limited to investing within their island’s coastlines. On the horizon would come unprecedented relaxations
from virtually anywhere - in their homes or even on the beach.”
Advisory Accounts receive proposals based on their personal level of risk aversion and investment goals. To take it further, Cornèr Bank (Overseas) offers Discretionary Investment Management Accounts, which are managed according to the client’s risk profile. “I would like to thank the International Investors Awards, and the subscribers of International Investors magazine, for
in the archipelago’s foreign exchange
To a country previously limited to a shallow
recognising Cornèr Bank’s continued
regulations, opening the door for Cornèr
pool of relatively undiversified investment
leadership and excellence,” says Russell.
Bahamas to lead the charge.
offerings, this was a giant leap forward.
“It’s an honour and a privilege to accept
THE DAWN OF A NEW ERA
“With a click of a mouse, Bahamians could
but the true reward comes from knowing
In 2018, The Central Bank of The Bahamas
easily purchase anything they wanted on
that we are making a real difference in the
relaxed its restrictive regulations, and
Amazon, but until Cornèrtrader, they could
quality of our clients’ investment options.”
overnight, the doors to world markets
not say the same for a share of Amazon
were thrown open. Native holders of
itself. No longer are we just consumers,
Cornèr Bank (Overseas) Ltd’s product
Bahamian dollars were liberated and able
now we can be owners too.”
innovation, consistency in client
this award on behalf of my organisation —
communication, transparency and overall
to finally reap the benefits the world of trading and investing could offer.
COMMITMENT TO THE CRAFT
True to its pioneering spirit, Cornèr was
In a further show of exemplary
poised and ready to guide Bahamians
commitment to their clientele, Cornèr
through the unfamiliar waters of the
Bank (Overseas) offers the learning tools
international markets. The bank had spent
necessary to use its new and exciting
two years preparing to offer to Bahamians
products. At the Bahamian launch of
its online trading platform, Cornèrtrader,
Cornèrtrader, the bank’s director Luca
and its 2018 launch marked the first time
Salzborn summarised the efforts, saying,
a local firm had offered real-time access to
“we are committed to offering to all
the NYSE and the NASDAQ. Not only was
our existing and prospective clients’
Cornèr Bahamas prepared to welcome
continuous education with seminars or
new clientele, but the bank also positioned
one-to-one meetings about markets and
itself as a financial hub for newcomers
the use of our platform, as we believe that
navigating the markets, proving itself to
a key element for successful investing lies
be a true cornerstone of the Bahamian
in mastering the technical and financial
community.
aspects that go with it”.
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client satisfaction will continue to propel the bank not just to the top of the award podium, but into the future, setting the pace for financial services worldwide.