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Date Released: 23 February 1999

'Investment Services Is The Big Prize' - DTI Minister

The Gibraltar Association of Stockbrokers and Investment Managers (GASIM) was officially launched at the Gibraltar Finance Centre premises in Europort yesterday. Peter Montegriffo, Minister for Trade and Industry, Anthony Fisher, Finance Centre Director, and Chris Labrow, GASIM Chairman, welcomed members to the new association.

Mr Labrow said that the formation of an association to represent the investment sector in Gibraltar was "probably overdue but certainly timely now". He announced the newly-installed committee as also consisting of: Barbara Sellors, Secretary, Raymond Joubaud, Treasurer, and Lindsay Adamson and Richard Amey, committee members.

The Minister for Trade and Industry said that this is a growing and important sector of the financial services industry and that he was delighted to be involved with the launch of GASIM. Mr Montegriffo said that the launch was "opportune" because Gibraltar is now working on issues that will be "highly pertinent to the development of investment services".

The Minister said that investment services are undoubtedly the "big prize that for many months, indeed years we identified as being important for Gibraltar". In this regard, he believed the participation of the new association would be invaluable.

He identified niche funds as being the areas outside retail markets that Gibraltar is keen to access, and stressed that recruitment and training would be keys to success. "The best way to organise training schemes," said Mr Montegriffo, "would be through an association", as such schemes could be co-financed with Government and EU funds.

Anthony Fisher added to the Minister's words of welcome saying that he too was delighted that the new association had been formed "and that from the word go it's proved to be such a strong association in terms of its constitution". He thanked Chris Labrow for rising to the challenge almost single-handedly at the outset to put together what was "unquestionably a very powerful association".

Mr Fisher said that GASIM represented what was "without doubt the fastest-growing sector for new business coming to Gibraltar". He stressed that Government was totally committed to nurturing the sector so that it achieves its full potential. He urged members to use the resources and facilities of the GFC offices to assist them in the development of their industry.


Anthony Fisher

Finance Centre Development Director
Department of Trade & Industry
Government of Gibraltar
Suite 771, Europort

Tel No:  + 350 50011
Fax No:  + 350 47677
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