arsenal. Gibbons Trust Co. Ltd., which is in the process of being incorporated, will be headed by lawyer Tom Gibbons, the legal secretary at Colonial Insurance Co. Ltd.

A trust company caters to high net worth individuals who want to stash money away anomonously for tax planning, wealth protection and inheritance purposes.

Charities and institutions may also set up trusts for various reasons, including as a protection from creditors.

Gibbons Trust will be seperate from the Gibbons financial group of services, which includes Gibbons Deposit Co., Gibbons Investment Management Ltd., and GO Card Ltd.

James Gibbons, managing director of Gibbons Deposit Co., said the group will provide administrative and financial expertise to the new company.

Gibbons Investment Management was set up this year to offer investment advice and execute trades in stocks, bonds and mutual funds for clients. Gibbons Investment is also working with Colonial, another Gibbons company, to develop pension products.

With the new company the Gibbons family is putting together a group which will present a challenge to some sectors of business being done by the Bank of Bermuda and the Bank of N.T. Butterfield and Son Ltd.

Sir David Gibbons retired as Bank of Butterfield's chairman last week. He will become chairman of the Colonial group of companies.

WESTERN UNION, GIBBONS TEAM UP BUC Western Union, Gibbons team up BERMUDA RESIDENTS and visitors can now wire and receive money directly to and from 140 countries using the Western Union Financial Services International network. Western Union has teamed up with Gibbons Deposit Co. to offer the service. The transfer service is available at Gibbons Reid Street branch. The company will add three other offices in Hamilton, Warwick and Smith's over the next few weeks.

Anyone can use the system. A bank account or credit card is not necessary. To use the service, customers bring the cash they want to send to a Western Union location. Gibbons Deposit will enter the information on Western's computer system which within minutes transmits the information to the agent in the other location. The agent is authorised to immediately pay the recipient on the other end.

Western Union has 40,000 agents in 140 jurisdictions. The company is a subsidiary of First Data Corporation.

IBC, BANK TO JOIN FORCES BUC IBC, bank to join forces LOCAL COMPANIES International Bonded Couriers (IBC) and The Bank of Bermuda Ltd. have teamed up in a cross-marketing effort to give their customers a 15 percent discount on international package and document deliveries. Bank of Bermuda customers who use their credit or debit cards when paying for international delivery by IBC will receive the discount. IBC president Glen Smith and electronic banking manager David Lema of the Bank of Bermuda made the announcement yesterday at a press conference.

SPRIGGS APPOINT NEW GM APP Spriggs appointed new GM WILLIAM SPRIGGS has been appointed as the next general manager of the Bermuda Small Business Development Corporation. Mr. Spriggs will will take over from Michelle Khaldun in January. Ms Khaldun is leaving after more than four years to join the Bank of N.T. Butterfield and Son Ltd. as the senior manager of business banking. This is a newly-formed section of the bank which will cater to smaller business clients and start up companies.

C&W MAKRS SPECIAL ANNIVERSAY BUC C&W marks special anniversary INTERNATIONAL TELECOMMUNICATIONS giant Cable & Wireless Plc is celebrating 125 years in business. The company is marking the event in Bermuda with a visit to Hamilton of the cable ship Sir Eric Sharp . The ship will arrive in Bermuda today. It will be open to the public Tuesday, Wednesday and Thursday.

Cable & Wireless began in Britain as the Eastern Telegraph Co., formed in 1872 by Scotsman John Pender. The Manchester-based cotton merchant saw the opportunities in laying communication cables along vital routes.

In 1934, the Eastern Telegraph Co. combined with the radio network of Marconi to become Cable & Wireless. The company has operations in 70 jurisdictions, including Bermuda, where it provides the international telecommunications connection in competition with TeleBermuda International Ltd.

-- Compiled by Ahmed ElAmin