Premier David Burt met senior executives in New York City this week with the aim of building business relationships and attracting investment to the island.

The two-day visit was arranged by the Bermuda Business Development Agency, whose head of business development, Sean Moran, accompanied the Premier.

Mr Burt hosted a luncheon at the Union League Club in New York City.

The luncheon was attended by 24 guests including investment professionals, wealth managers, and venture capitalists with varied interests from hospitality, technology, agriculture, energy and transportation.

Jamahl Simmons, the Minister of Economic Development and Tourism, and Randy Rochester, Permanent Secretary, were also in the island delegation.

“While the conversations covered much ground, we specifically focused on advancing our agenda items, such as the creation of the tech hub at Southside,” Mr Burt said.

“We also used this opportunity to engage with venture capitalists in an effort to obtaining capital for start-ups based in Bermuda and explored investment in many other areas.”

The group spent time with leaders of fund management, private-equity and venture-capital companies.

Mr Burt said he was “encouraged” by the discussions.

“The Government is focused on growing our current industry offerings and diversifying our economy and we know that by working with both local and international partners, we can achieve those goals,” the Premier said.

The BDA arranged meetings with executives at numerous companies representing different industries and areas of focus.

The itinerary included a fund of funds reinsurer in the process of establishing a Bermuda office; two companies that recently set up investment management and administration operations in Bermuda; other companies considering the island as a location; plus influential legal advisers and consultants who refer prospective investors to the jurisdiction.

“The talks were very positive and productive, and gave us the opportunity to hear different perspectives on the Bermuda business experience, as well as the government’s objectives for job creation and economic diversification,” Mr Moran said.

“A recurring theme was that Bermuda has been successful in maintaining its blue-chip reputation by attracting quality business — but we cannot rest on our laurels. Global regulatory, taxation and geopolitical changes all pose challenges.

“Our island must continue to work collaboratively to ensure we remain competitive in a world where technology is becoming the real equaliser.”

Among those who met with the Bermuda delegation were executives from Rosh Capital Management, law firm Katten Muchin Rosenman, Centaur Fund Services, Wafra Investment Advisory Group, Derivee Capital Advisers, Rosecliff Ventures, and the Oliver Wyman Group.

“Wafra has enjoyed a mutually beneficial relationship with Bermuda for almost 30 years,” said Fergus Healy, chief legal and administrative officer for Wafra, an alternative investment manager with more than $20 billion under management globally.

“It was a pleasure to engage the Premier, Minister, Permanent Secretary and the BDA in a discussion about what is important to our global business — and Bermuda’s critical contribution in supporting it,” Mr Healy added.

“We were encouraged to hear about the Government’s vision for the future and, particularly, its desire to attract more local talent in fields being targeted for growth.

“There appears to be great energy and determination to strengthen Bermuda’s position of leadership among international financial centres.”

Opportunities presented by new distributed ledger (blockchain) technology, digital banking and cryptocurrencies featured in every discussion.

“We were impressed by the Premier’s commitment to both education and technology,” said Des Johnson, chief executive officer of Centaur Fund Services USA.

“Centaur is committed to Bermuda and very proud we have a presence on the island. This type of national focus will help fuel the continued growth and success of our business in Bermuda.”