STEP Caribbean Conference Underway

Minister Maynard-Gibson presented opening remarks at the STEP Caribbean Conference today at the Atlantis Paradise Island Resort. Extending a welcome also on behalf of the Prime Minister, the Rt. Hon. Perry G. Christie, she said he sent indications of pride in the STEP Bahamas Branch, conference hosts, whose members "exemplify the depth of intellectual capital in The Bahamas."

Pointing to some of the challenges in the private wealth management arena, the Minister said, nevertheless, the numbers of HNWIs and the value of HNWI financial wealth continue to show positive growth -- though at a decreased rate. In fact, HNWI wealth is expected to grow an average 7% a year during the next 5 years, reaching approximately $38 trillion by year-end 2007.