finance
by Sonia Golt
“All banks strive to attract business to Gibraltar and we need to ensure that we are competitive as a jurisdiction” will run for a two-year period. “We have areas of influence and areas of concern. These are unprecedented times for many industries, including banking,” he added. “Within the GBA, we will aim to focus on providing support to the Finance Centre and maintain healthy communication on banking matters within the association. “All banks strive to attract business to Gibraltar and we need to ensure that we are competitive as a jurisdiction.” Thomas first arrived here in 1993 and even though he was away for two years, he returned. Does he think Gibraltar is a good place to do business? “I have always enjoyed working in Gibraltar and appreciate the close relationships we have with the Finance Centre, the regulator, intermediaries and other finance industry professionals,” he explained, adding of his professional role: “At Credit Suisse in Gibraltar, 52 highly committed colleagues from more than 15 different countries manage our relationships with high net worth individuals from all over the world. Our clients require tailored and sometimes complex investment solutions. We have been very successful in Gibraltar over the last four years with significant growth in assets and revenues.” How can we weather the worldwide crisis here in Gibraltar? “The times are financially difficult in many Credit Suisse (Gibraltar) Limited Managing Director, Mr. Thomas Westh Olsen — new industries. We all need to remain focused, dediPresident of the Gibraltar Banker’s Association cated and diligent in securing the success of the jurisdiction. I am also very focused on growing the business for Credit Suisse in Gibraltar.” Mr. Westh Olsen is a member of the Europe, Middle East and Africa Management team within the Credit Suisse Private Banking Division. His previous role of ten years was with Jyske Bank Private Banking in Gibraltar, and Thomas established a new Private Banking office for Jyske Bank in France. His career began in Copenhagen in Commercial Banking and that was the stepping-stone to other management positions in Scandinavia, Germany and France. He graduated from Copenhagen Business School and obtained an MBA “The banking environment has dominated my life since the end of in Finance from the Heriot-Watt University, the 1980s. Some might say I’m a bit of a workaholic as even when Edinburgh. I read, I pick up books on leadership and management, although Thomas is now happy living in Gibraltar and he has three children who were born locally I also read biographies on exciting personalities that interest me.” during his 16 years on the Rock. — The words of this year’s newly elected President of the Gibraltar “I enjoy quality time with my family. The children occupy a lot of our time through homeBanker’s Association, current Credit Suisse (Gibraltar) Limited work, reading, and sports like football, paddle, Managing Director, Mr. Thomas Westh Olsen. tennis, skiing, dance and ballet for the youngest. I also enjoy outdoor activities and every “This association has always been very well closely with the GFSC and ensure a professional autumn I cycle to the top of Sierra Nevada from run and has excellent support from local banks,” banking environment operates throughout the Granada. When time permits, I play a game of Thomas states. “We will aim to work more jurisdiction,” he said of his presidency which paddle or golf.” n
Banking on the new President
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GIBRALTAR MAGAZINE • MARCH 2009
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