Last updated: 12:48 / Tuesday, 28 January 2014
In Nassau

Andbank Opens its New Head Office in Bahamas and Builds up its Local Team

Although Andbank has been operating in Bahamas since the year 2000, it just opened its new headquarters a few days ago. The opening of the new office in Nassau comes hand in hand with a new team headed by Juan Iglesias as CEO of Andbank Bahamas.

As well as Iglesias, formerly from Julius Baer, Daniel-Marc Brunner, formerly from Credit Suisse, has also joined the company as head of private banking, and Werner Gruner, also formerly from Julius Baer, ​​will be Andbank’s director of private banking. Other additions to the team are Wendell Gardiner as director of compliance, and Amanda Smith, formerly from Banco Santander Bahamas.

With its new team of fifteen people, Andbank Bahamas has doubled its staff within the last twelve months and has set its target for 2014 at boosting the local private banking business. The relaunch of its head office in the country marks a very special milestone which consolidates a process of internalization that started over 13 years ago.

The inauguration of the new headquarters was presided by Andbank’s president, Manel Cerqueda Donadeu, who pointed out that in the year 2000, the bank began operating in the country through a subsidiary, and that shortly afterwards, in 2001, the Central Bank of The Bahamas gave them a banking license.

"Our Bahamas business has grown steadily since it was first established in this country, and today, we wish to increase our presence even further," said Cerqueda. He added that the Bahamas offers great opportunities thanks "to its ideal location, good connecting flights, a stable legal and financial system and a community of trained financial professionals."

In statements to the local press, Cerqueda stressed that since they established themselves in the country, the business has grown steadily, therefore Andbank is looking at increasing its presence further, promoting it and making it grow, which is why they have hired a “team of highly qualified professionals.”

As for the competition which the Andorran bank faces in the Bahamas, where large institutions with many years of experience in private banking have been established for years now, Cerqueda said the business model which they are offering “sets us apart, as it allows us to offer a wide range of solutions for the client, regardless of the jurisdiction in question, the depositary or the bank through which they wish to operate. We move faster, adapting to change and seizing opportunities that arise,” he said.

Andbank’s general manager, Ricard Tubau Roca, its deputy general manager, José Luis Muñoz Lasuen, Jean Claude Roche, director of Andbank Panama, and Javier Rodriguez Amblés, managing director of the company in Miami, were all present at the relaunch of the bank in the Bahamas.

Starlight Global’s “Night of Inspiration”

Coinciding with the inauguration of its new headquarters in Nassau, the bank sponsored the annual "Night of Inspiration" of the nonprofit organization Global Starlight. Over 200 people attended the event which was held at the Old Fort Bay Club.

Mathu Joyini, the High Commissioner of the Republic of South Africa to the Caribbean, as well as members of the Bahamian government such as Ryan Pinder, Minister of Financial Services Bahamas, and renowned personalities of the country, along with Canadian singer Shania Twain, attended the gala, which this year was dedicated to honor the life of former South African President Nelson Mandela.

Entertainment for the evening included performances by the National Youth Choir of the Bahamas, winners of a double gold medal at the World Choir Games in 2012, the National Symphony Orchestra of the Bahamas, the Nassau City Opera Company, the Bel Canto Singers, the Bahamas All Stars Band, and other international artists.