05.31.08

BMI appoints Managing Director for Seychelles operations

Posted in Financial Services, Offshore Services, Seychelles banking, Seychelles offshore jurisdiction at 2:09 pm by Robert Klien

According to the press release published on May 20, 2008, Bahrain-based BMI Bank appointed Frank Hoareau as the Managing Director of BMI Offshore Bank Limited, its new Offshore banking business in Seychelles.

Andrew Bainbridge, Chief Executive Officer of BMI, welcomed Frank Hoareau and noted that he brings extensive experience and knowledge of the offshore industry and banking. Bainbridge also said that the Bank is confident it will build a thriving business and capitalize on the many exciting opportunities in the Seychelles market as Seychelles is an attractive location for this venture that is supported by legal and regulatory framework and continuing economic progress.

It should be noted that Frank Hoareau is well-known in Seychelles financial circles and he is familiar with the Ministry of Finance and the Central Bank, where he held a senior position before joining Barclays offshore.

In March 2008, BMI received its offshore banking license and is planning to open for business in the 3rd quarter of 2008.

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