NASSAU, BAHAMAS – One week after Leno top executives confirmed its acquisition of Bank of The Bahamas’ (BOB) $103 million trust, the company has named veteran private wealth and trust professional Dianne Bingham to head Leno Trust.
“We are proud to announce the appointment of Dianne Bingham as Managing Director Leno Trust Ltd.,” said Leno founder and president Sean K. Longley.
“Mrs. Bingham’s brings with her a wealth of knowledge and experience gained in a career that spans three decades, having held top posts in local and foreign financial institutions and, most importantly, helping to shape and steer policy in the trust industry.”
Longley added: “Her appointment also re-affirms our commitment to being a company committed to Bahamian leadership even as we expand our products and services to a wider market.”
A leader who helped shape trust and financial services legislation and policy over more than 30 years as a practitioner in the industry, Bingham was voted Professional of the Year by the Bahamas Financial Services Board.
She received the Society of Trust and Estate Practitioners “STEP” prestigious Founders Award in 2017.
Bingham has served in senior roles ranging from Manager of Client Accounting to Director Private Client Group at an international bank and most recently as Vice President and Head of Trust and Fiduciary of a major international bank and trust company.
“This is an exciting time with unprecedented opportunities for asset structuring and succession planning for Bahamians,” said Bingham.
“The local market has provided more investment opportunities to Bahamians and we see where Bahamians are making use of corporate vehicles and fiduciaries to protect and grow their personal wealth.”
She continued: “The shift in family movement resulting in multi-jurisdictional families has also provided the opportunity for Bahamians to look closely at wealth structuring, asset protection and succession planning by utilizing trust and corporate structures.
“As a result of those changes and the movement of families to more than a single jurisdiction, we are seeing an increasing interest in how best to protect, transfer and preserve assets and the role of fiduciaries in that planning, protection and succession role.”
Bingham added: “A trust can also stave off nasty probate court battles as well as maintaining the privacy that is sought by everyone upon a loved one’s demise.”
LENO Trust Ltd. plans to unveil its menu of trust products in the coming months.
In addition to its Bank of The Bahamas trust book of business, LENO Trust’s parent company recently acquired the assets of FG Capital Markets, an $80 million portfolio including pension funds and shares in mutual funds.