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BFSB elects Rahming as chairman

Published: Oct 28, 2013

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Prince Rahming, territory senior partner of PricewaterhouseCoopers, has been elected as the new chairman of the Bahamas Financial Services Board (BFSB), replacing Paul Winder who was chair of the 15-year-old, private sector-led organization that represents and promotes all sectors of the country’s broad-ranging financial services industry.

Rahming’s selection as chair was made during a BFSB board of directors meeting last week.

The board also elected C. James Schaefer, chief operating officer, Old Fort Financial, as co-deputy chair, along with Timothy Colclough, vice president, Butterfield Trust, who has been serving as deputy chair for the last year.

“I have great respect and admiration for what BFSB represents and what it has accomplished as the front edge of the industry’s development and promotion efforts,” said Rahming. “I am honored to be elected BFSB’s chairman and look forward to building on its accomplishments, and I will be reaching out to members for their support and advice.”

BFSB CEO and Executive Director Aliya Allen said, “Prince Rahming brings extensive international experience and insight from his many years working in Switzerland, New York and here. He follows in the footsteps of the many outstanding chairmen who have guided BFSB in the past.  The depth and experience of our industry has bred a leadership pool of highly talented senior executives which has been a great benefit to BFSB and the country in general in our efforts to keep The Bahamas at the leading edge of international financial services. Prince’s expertise and leadership skills will be of tremendous value to BFSB and the industry as we continue to press The Bahamas Advantage internationally and examine fresh and innovative industry development strategies.”

Winder, who will remain on the board, was also thanked by Ms. Allen for his “outstanding contributions to BFSB.”

Rahming began his career with PwC Bahamas in September 1991. Twenty years later in 2011, after increasingly senior positions with PwC in New York and Switzerland with a four-year stint with PwC Bahamas squeezed between his international postings, he became the territory senior partner of PricewaterhouseCoopers, Bahamas (PwC Bahamas).

During his 10-year stay with PwC Switzerland, Prince served in various capacities including acting as a lead banking auditor for the Swiss Financial Market Supervisory Authority (FINMA) and made significant contributions to the success and growth of that firm’s financial services practice in Geneva. As the territory senior partner of PwC Bahamas, he leads the firm, and brings extensive knowledge and international experience in financial services to the local partnership.

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