of financial services it offers to the public, Gibbons Deposit Company Ltd.

managing director James Gibbons said yesterday.

Mutual fund services and financial insurance products could be among a spectrum of money management services offered through a new Gibbons family company.

Expanding the financial services side of the Gibbons empire in Bermuda is a logical extension of many years of family discretionary money management and of the financial services the group currently has available to the public, Mr.

Gibbons said.

Among the existing financial services are the deposit company and a local credit card.

Expanding its financial services means the Gibbons organisation may ultimately offer a full range of financial services -- except banking.

This move, "in a nutshell, is the start of trying to offer a full spectrum of financial services'' to Bermudians, Mr. Gibbons said.

To position for the move, the group will rationalise Gibbons Management Services Ltd. and incorporate two new companies, Gibbons Investment Management Ltd. and GO Card Ltd.

Mr. Gibbons said Gibbons Investment Management is in a very early stage of development.

"We have not made final decisions. We are looking at a broad range of services,'' he said.

The structure of the financial services business will likely take more shape as Sir David Gibbons, James' father, gets closer to retirement from his position as chairman of the board at the Bank of Butterfield. Sir David will reach the bank's mandatory retirement age in November.

The family's insurance company holdings indicate that the financial services on offer will extend to financial insurance products, like life and pension products.

Colonial Insurance Company Ltd. is a main pillar of the Gibbons family financial empire in Bermuda.

In a gazetted legal notice, Gibbons family holding company Edmund Gibbons Ltd.

is applying to incorporate Gibbons Investment Management.

Gibbons Investment Management would act as investment managers, agents and advisors of individuals, companies, mutual funds, trusts, unit trusts, partnerships, pension funds, investment clubs, individual funds and any other collective or private investment schemes.

The application would also permit Gibbons Investment Management to act as secretaries, managers, advisors or consultants and provide corporate administrative services to individuals and companies as well as act as transfer agents or registrars of shares, stocks, bonds and other securities.

By setting up GO Card Ltd. as a stand alone entity, it is anticipated the card may soon be enhanced. GO Card is currently a part of Gibbons Management Services.

Separating out GO Card and investment management from Gibbons Management Services, a subsidiary of the Gibbons group, will return the company back to a pure management services company.

James Gibbons