Dave Smith appointed managing director of Bahamas Development Bank
The Ministry of Finance has congratulated Dave Smith on his official appointment as managing director of the Bahamas Development Bank (BDB), and joins the bank in celebrating its 40th year anniversary.
The bank plays an important role in the government’s concentrated push to build a culture of entrepreneurship and to support small businesses. Smith has already commenced work to strengthen the bank’s relationship with local, regional and international partners, and to promote the message of empowering Bahamians for business ownership.
“I look forward to serving in this position and continuing the planned activities this year to commemorate the bank’s 40-year anniversary,” said Smith. “We will forge ahead with executing our strategic plan. At the same time, we also look at fulfilling the government’s mandate to examine some of the legacy issues that require focused attention and reform. This will include a few new initiatives we are exploring. As we implement these various activities we will certainly keep the public up to date.”
He continued, “I also look forward to continuing the collaboration with our many partners such the Caribbean Development Bank, various government ministries and industry associations to execute the principal functions of the bank which are to: promote industrial, agricultural and commercial development via financing and investing in approved enterprises; encourage citizens of The Bahamas to participate in business ownership, and promoting the economic development of The Bahamas.”
Smith is a Certified Public Accountant and holds Bachelor’s and master’s degrees in business administration from Taylor University, Upland, Indiana. He is a fellow of the Bahamas Institute of Financial Services (BIFS).
He has served in numerous public service roles, such as deputy chairman of the National Insurance Board, director of Be Aliv Limited, chairman of HoldingCo2015 Limited, director of the Public Hospitals Authority and as executive vice president, treasurer and lecturer at the Bahamas Institute of Financial Services. He is the former executive director of the Securities Commission of The Bahamas and has over 30 years of experience in financial services.
Throughout his career, Smith has also held numerous senior managerial positions with leading private sector institutions such as Credit Suisse, Royal Bank of Canada, MeesPierson, Lloyds TSB, Royal Bank of Scotland and UBS (Bahamas) Ltd. His professional experience also includes his role as a founding partner of dss360solutions Ltd., a company specializing in compliance, operations consulting and other facilitation services.