Lawyer Kiernan Bell is the new chairman of the Bermuda Business Development Agency.

Ms Bell, who leads the Bermuda dispute resolution team at legal firm Appleby, replaces Caroline Foulger, a former partner at professional services firm PwC, who had led the BDA since it was founded in 2013.

“For my part, I am looking forward to continuing to work with my fellow board members, the BDA team and stakeholders — all of whom are collaborating towards a common goal,” said Ms Bell, who has been on the BDA board for three years.

“Bermuda is a pre-eminent offshore jurisdiction with an unparalleled platform to offer innovative solutions to the global marketplace during an era that poses both great challenges and opportunities.

“I look forward to doing my part to ensure that the jurisdiction maintains and enhances its reputation for being innovative, well-regulated and relevant, while focusing on services and sectors which create job opportunities for Bermudians.”

Ms Foulger will remain on the board for another term as chairwoman of its finance and audit committee. She said: “It has been a pleasure and privilege to serve as the first chair of BDA.

“The agency was formed to bring together international business development activities in Bermuda — which had formerly been carried out by several different groups — and to sustain and create on-island jobs.

“Three years on, we are seeing the success of that strategy.”

Ms Foulger said the BDA had brought together the international business sector to act as a unified advocate for the island.

“We have received strong support from the current government, the former government and the private sector in our activities.

“Amid merger activity in the insurance sector, fierce competition from other jurisdictions and regular global assaults on offshore financial centres, BDA has contributed to the formation of new companies, improved branding of the island and helped promote industry growth that has led to the creation of new jobs.”

Ms Foulger added: “There remains much to do, however, I am more than confident that Kiernan Bell as our new chair is the right leader to take BDA forward with the support of CEO Ross Webber and the whole BDA team.

“I look forward to my final year on the board and to supporting Kiernan in her role.”

Grant Gibbons, Economic Development Minister, thanked Ms Foulger for her work at the BDA.

“Kiernan is an excellent appointment who, like Caroline, brings a wealth of knowledge and market experience to the role of BDA chair,” he said.

“I look forward to working with her as she continues the good work to help grow Bermuda’s gross domestic product and create a positive environment for job creation in our jurisdiction.”