management of Star Asset Management Ltd. and will become head of fun management.

Mr. Crystal has organised the inaugural Star Asset Management Golf Classic, which takes place tomorrow at Port Royal. The event coincides with Star's board of director's meeting.

The golf weekend -- which will feature distinguished guests from major banks around the world -- is a lot more than simply a sporting tournament. There will also be a barbecue tonight at an exclusive home which Mr. Crystal and his wife are renting specifically for the event, along with a cruise tomorrow night followed by more water activities including snorkelling on Sunday.

Star Asset Management, located on Richmond Road, but with offices in London and Israel, is a fund management company which has been based in Bermuda since January, 1995. It is a private, family-owned company with over $500 million under management and is run by chairman Jack Crystal and his two sons, David and Zev.

There is expected to be more than 50 guests participating in weekend events with representatives from several banks including Coutts Bank from Zurich, Merrill Lynch and Morgan Stanley from London, Nomura, Bear Stearns, Paribas, Societe Generale and Smith Barney from New York.

"We've invited selectively the salesmen and people who work with us from different firms,'' said Mr. Crystal. "Plus there will be representatives from the Bank of Bermuda and our lawyers and accountants, people like David Lines and David Smith...people we know on the Island who we are quite close with.'' Local invitees are from the Bank of Bermuda, Coopers & Lybrand, Leeds Management and the Bank of Butterfield. Mr. Crystal has invited several people here in the past to participate in golf matches, but this will mark the first time it will be done on such a large scale.

"We've been bringing people here every couple of months, three or four different groups for a four-day weekend,'' said Mr. Crystal. "And they always end up saying `wouldn't it be nice if we could all come down here together'.

Well, it's a bank holiday weekend in London so we just said `why don't we do it this weekend'. Our directors will be here from all over the world. This thing has gotten so popular that next year it'll probably be twice the size.''