Concorde Bank has earned a strong reputation for its high-quality, personalised services. The independent, Barbados-based private bank created in 1987 specialises in private banking, wealth management, trust and custody services for high net worth individuals and corporate clients, as well as in administrative services for fund managers.
It is this unique combination of a variety of financial services that set Concorde Bank apart from its domestic and international competitors. Gerard Lussan, Chairman and CEO, explains, “Concorde Bank focuses on tailoring its services to the individual’s needs as opposed to a broader mass market service which today is often offered by many big name institutions.” He adds, “Many of our clients are expatriated individuals from a variety of countries, backgrounds and professions, including many who have been disappointed by the supposedly ‘high net worth’ services provided worldwide by large institutions. As expatriates ourselves, the founders of the bank know the type of service most clients require and expect. At Concorde, they find the support and services they are looking for.”
Concorde Bank’s services are enhanced by its collaboration with other major financial institutions around the world. In particular Concorde Bank cooperates with the Laven Partners financial services group, whose European offices are located in London, Luxembourg and Geneva. Laven Partners are investment management consultants offering fund structuring, compliance, tax, legal and risk management services. Laven Partners also offers the potential to carry valuable due diligence assessments of all types of funds.
Barbados leading the way–a well–regulated jurisdiction
Concorde Bank is a leading institution in Barbados’s varied banking sector, which includes major commercial banks and 54 international private banks. All banking activities in Barbados are licensed and regulated by the Central Bank of Barbados.
Lussan points out that the Barbados government has put in place a regulatory framework for the financial sector that meets the best international standards, it is currently Basel I compliant and is aiming at being Basel II compliant by 2010. In this respect, Barbados is ahead of other Caribbean jurisdictions and some OECD countries. He adds, “Barbados has a positive image. It was ‘white-listed’ this year by the OECD as it has proven to be compliant with their international standards. Barbados has a very good track record when it comes to the prevention of financial crime. It is also the Caribbean jurisdiction with the greater number of tax treaties with major countries, such as the US, Canada, China, the UK, Switzerland, and others. It is a stable, reliable jurisdiction and a great alternative in a global economy.”