The Bahamas Financial Services Board (BFSB) has selected Ian D. Fair as the Recipient of its 2014 Lifetime Achievement Award – a recognition of outstanding and sustained performance and contribution within the industry. In responding to the pronouncement, Mr. Fair said “I deem it a singular honour to be given a Lifetime Achievement Award by BFSB for my contribution to the financial services industry over the past forty four years.”
Ian Fair has been involved in business and particularly the financial services industry in The Bahamas since 1969. He brings with him a wealth of experience and an in depth knowledge of the industry, specifically of the international aspects of wealth management. He currently serves as the Chairman of Bahamas First Holdings Limited, the largest general insurer in the country, Chairman of Butterfield Trust (Bahamas) Limited and Chairman of the Bahamas International Securities Exchange (BISX).
He was the Founding Chairman of The Bahamas Financial Services Board (“BFSB”) in 1998, serving for 2 consecutive terms until 2002. Mr. Fair notes, “There have been many highlights in my career, but ranking right at the top was the formation of BFSB. It gives me enormous satisfaction is to see how it has grown and changed over the years and continues to be a focal point for the continued development and promotion of our industry.”
Mr. Fair’s previous work experience was as Chairman of MeesPierson Bahamas, which he co-founded in The Bahamas, from 1987 to 2003, Managing Director of Deltec Panamerica Trust Company from 1980-87 and with the Bank of Nova Scotia Trust Company (Bahamas) from 1969-80 and 2003-6. He was also the Chairman of The Grand Bahama Port Authority and Port Group Limited from March 2012 to September 2013 and Chairman of The Bahamas Maritime Authority from 2008-2012.
Mr. Fair is a member of the Society of Trust and Estate Practitioners (“STEP”), and was the founding chairman of its Bahamas Branch. He is a Fellow of the UK Institute of Directors and the Duke of Edinburgh’s World Fellowship. He also serves on the boards of a number of charities and foundations including the Governor Generals Youth Award (Bahamas), The Living Oceans Foundation (USA) and the Lynn Foundation (UK). Also in The Bahamas he was a founding member of the Clifton Heritage Authority and The National Art Gallery.
In speaking to the current state of play, Mr. Fair says, “The financial services industry, worldwide, is going through major change right now, but this is not the first time and is unlikely to be the last. We simply have to accept change, embrace it and chart our way for future success. I believe that there is still much potential. It is now up to the next generation to take over, with guidance the previous generation might be asked to provide.”
The Lifetime Achievement Award will be presented at the 14th Annual FSI Excellence Awards Gala Dinner on November 14th, when BFSB also will recognise the Executive of the Year, Professional of the Year, Mentor of the Year, Achiever of the Year, and Student of the Year. Also recognised will be recipients of the Financial Services Development & Promotion Award and the Minister’s Award, the latter selected by the Hon. L. Ryan Pinder, Minister of Financial Services.
He has been married to his wife, Sylvia (formerly Cartwright) for over forty three years and they have three daughters and three grandsons.