ABIC unveils new executive director and vision at AGM

The Association of Bermuda International Companies (ABIC) has appointed a new executive director. Wayne Smith (Pictured) succeeds Richard Winchell, who has retired after 16 years in the role.

Smith has more than 25 years of executive experience in both the private and public sectors and most recently led the Bermuda Government’s concierge and engagement services division.

Also retiring is ABIC administrator Greta Peters. Malinda Jennings will replace Peters as Administrator.

The changes were revealed at the organisation’s AGM. Patrick Tannock, chairman of ABIC and CEO of AXA XL Insurance in Bermuda, also laid out ABIC’s plans for 2023.

“We must build on and utilise our competitive advantage of speed to market to provide real-time solutions to the opportunities that come from change,” Tannock said. “Collectively, both industry and government must work together to ensure that we minimize any bureaucracy that could negatively impact this competitive advantage and identify any areas of friction to enhance our speed of execution.

“We’re also going to work to ensure that we can continue to attract fresh, high-quality intellectual capital, while continuing our commitment to retain and develop our current talent, both local and international, to ensure a win-win and to continue to drive innovation.

“To remain competitive, Bermuda must provide an environment in which International Business gets what it needs to thrive. Likewise, we in International Business must be respectful of Bermuda’s culture, as well as the aspirations and values of the Bermudian people. We are all in this together.

“We plan to continue to ramp up our work with member companies to accelerate the transition from simply awareness of why DEI matters to the development and execution of strategies to work to increase diversity, equity and inclusion in Bermuda’s International Business workforce. “We’re also going to continue to provide intellectual capital and input to support Government's plan to produce economic recovery. We will do all that we can to raise awareness of Bermuda’s IB value proposition both domestically and internationally.”