In the opening salvo of a restructuring at Bank of Bermudas fund services business, Paul Smith has been promoted from head of global fund services for Asia to the position of global head, replacing Luis Douglas, who retired after serving at the bank for 34 years. The bank has $89 billion under administration worldwide.
Early next year, Bank of Bermudas global funds services business will announce a restructuring that will scrap the regional heads of Asia, Europe and the Americas in favour of a global executive board and country heads. As such, there will be no replacement for Smiths current role.
The emphasis is that in Hong Kong there will be...
