Lawyer Michael Hanson has been unanimously elected as the new chairman of the board of the Bermuda Business Development Agency.

Mr Hanson, the managing partner of Carey Olsen Bermuda, succeeds Stephen Weinstein in the chairman’s role.

Mr Weinstein is former EVP, chief compliance officer/secretary and general counsel of RenaissanceRe Holdings Ltd.

Former Liberty Mutual Bermuda COO Susan Pateras was unanimously elected deputy chairwoman of the board and Stuart Lacey joined the board at the BDA’s annual general meeting and board of directors’ meeting.

Mr Weinstein, Andrea Jackson and Bradley Simons have left the board.

Mr Hanson said: “Like many organisations, the BDA has had to weather extraordinary circumstances over the past 12 months. So, in that context, I would first like to recognise the incredible BDA employees, who have been exemplary in their relentless focus on our mission to grow and diversify the Bermuda economy.

“The board recognises their efforts, and we take very seriously our collective mandate to positively impact inward investment into our island's economy. We continue this mission with significant intent.”

He added: “I also would like to specifically mention some of our fellow directors who rotate off the board this year at the completion of our prescribed six-year terms.

“On behalf of the entire BDA, we thank Stephen Weinstein for his years of service, particularly for his last two as chair when he helped to steer the organisation through strategic and operational changes that positioned the BDA to continue and enhance its vital mission.

“Stephen's passion and vision to maintain and expand Bermuda’s global re/insurance leadership, to establish Bermuda as a climate finance capital, and his tireless energy in organising our inaugural Bermuda Climate and Risk Summits are well known to many.

“We also thank Andrea Jackson for her consistent and strong advocacy for over six years in the private client and high net worth sector. Andrea will be sorely missed — as will Barclay Simons, whose assistance on the financial challenges of Covid-19 proved invaluable.

“Stephen, Andrea and Barclay continue to be huge supporters of Bermuda and will remain engaged in the BDA’s important mission in various other capacities.”

Mr Hanson said Mr Lacey, a columnist for The Royal Gazette, is the current CEO of Summit Junto, a global community of innovators, leaders, change makers and visionaries, bound through carefully curated forums and advisory boards to maximise impact and positive change.

Prior to this, Mr Lacey spent more than 20 years founding multiple class-leading businesses, where he applied his leadership experience in the C-Suite of global financial and technology markets, developing a keen eye for identifying talent, growing successful teams and harnessing technology to create innovative, global solutions.

Most recently, he cofounded the Bermuda Clarity Institute, a premier executive leadership, management consultancy and experiential training institute in Bermuda that drives performance by providing organisational clarity.

Mr Hanson welcomed Mr Lacey to the board, adding: “We look forward to his contribution over this next critical year as Bermuda faces a myriad of macro political and socioeconomic issues and opportunities.”