“We are in a rapidly changing world, where agility and strategic thinking will define the future of international finance centres.” These were the opening remarks of Geoff Cook, Chair of Mourant Consulting, as he set the stage for BVI Finance’s latest Breakfast Forum, Behind the Headlines: The Trump Era, Global Geopolitics, and the Future of International Finance Centres.
Moderated by Elise Donovan, CEO of BVI Finance, the discussion brought together a distinguished panel of industry experts to analyze shifting global dynamics and their implications for international finance centres (IFCs). The panel featured Mark Pragnell, Managing Director of Pragmatix Advisory; Geoff Cook, Chair of Mourant Consulting; LaNishka McSweeney, Partner at EY; and Oliver Cooper, Legal Counsel at Charles Russell Speechleys and Counsel at the IFC Forum, all of whom provided unique insights into the challenges and opportunities that lie ahead.
Key Themes Discussed:
• Geopolitical Flashpoints: Panelists analyzed the impact of U.S. trade policies, particularly under President Donald Trump’s administration, which has introduced a transactional approach to global relations. “We seem to have come to a period of significant unpredictability,” noted Mark Pragnell, emphasizing that the traditional norms of globalization are being challenged. He further pointed out that the rise of economic nationalism and protectionist policies are forcing international businesses to rethink supply chains and investment strategies. The panel also explored the shift in global power dynamics, noting that smaller economies and financial hubs must adapt quickly to remain competitive amid changing alliances and economic uncertainty.
• Impact on International Finance Centres: Experts highlighted the resilience and adaptability of IFCs, emphasizing the need for regulatory agility, innovation, and strategic positioning to navigate the changing global financial landscape. “The best strategy for IFCs is to remain neutral, invest in technology, and continue strengthening our regulatory frameworks,” stated LaNishka McSweeney. She elaborated on the importance of leveraging digital transformation to streamline compliance and enhance financial services efficiency, ensuring that IFCs remain competitive and attractive to global investors. Additionally, the panel discussed how regulatory frameworks in IFCs must continue evolving to meet international standards while maintaining their attractiveness to businesses looking for stability and efficiency in uncertain times.
• Opportunities Amidst Change: Despite uncertainties, the forum underscored significant opportunities for IFCs, particularly in facilitating cross-border investments, providing neutral platforms for global business, and leveraging advanced financial technologies to remain competitive. “Trump’s policies may create volatility, but they also present new avenues for investment and capital flows,” observed Oliver Cooper. He suggested that as traditional trade routes are disrupted, new investment corridors are emerging, offering IFCs an opportunity to play a critical role in structuring and facilitating international transactions. Panelists also noted that the rise in global protectionist policies could drive more investors to IFCs that offer well-regulated and tax-efficient structures to facilitate business continuity across multiple jurisdictions.
• The Role of Asia: With over 50% of business originating from the Asia-Pacific region, panelists examined how IFCs can strengthen relationships with China and other Asian markets amid shifting U.S. policies. “We are seeing an increase in Asian investment into the Caribbean, particularly in infrastructure and financial services,” McSweeney pointed out. She emphasized that as geopolitical tensions between the U.S. and China continue, businesses in the region are looking for stable, well-regulated jurisdictions to manage their international financial operations. Additionally, panelists explored how China’s growing economic influence and strategic investments in key industries could shape future financial flows, presenting new prospects for IFCs looking to support Asia-based investors with access to global markets.
• Sanctions and Compliance: The forum also touched on the evolving stance on sanctions, particularly concerning Russia, and the potential divergence between U.S. and European policies. “One of the biggest near-term challenges for IFCs will be navigating differing sanction policies between the U.S. and Europe,” warned Pragnell. He noted that while the U.S. appears to be shifting its stance, European regulators remain firm, creating compliance complexities for IFCs that work with multinational clients. The discussion highlighted the importance of robust compliance mechanisms, with panelists emphasizing that regulatory transparency and adaptability will be crucial for IFCs managing cross-border transactions involving sanctioned entities.
The discussion also explored how technological advancements, including artificial intelligence and blockchain, could help IFCs enhance their compliance capabilities and improve efficiency in an increasingly complex regulatory environment. Panelists agreed that embracing innovation would be key to maintaining a competitive edge in a world of evolving financial structures and shifting economic power dynamics. They stressed that jurisdictions that actively invest in financial technology and digital transformation will be better positioned to serve international clients efficiently and securely.
Best-Case Scenarios for IFCs: Panelists shared their visions for the future of IFCs and how they can thrive despite geopolitical uncertainties.
Geoff Cook predicted that IFCs that embrace agility and strategic partnerships would emerge as essential players in facilitating global investment flows. “Those that pivot quickly and maintain strong regulatory credibility will continue to attract capital,” he noted.
Mark Pragnell envisioned a scenario where IFCs align more closely with regional economic blocs, creating new financial corridors and reinforcing their roles as trusted intermediaries. “Collaboration and innovation will be key to ensuring IFCs are not sidelined in a world where economic nationalism is on the rise,” he emphasized.
Oliver Cooper suggested that IFCs can capitalize on shifting global capital flows by offering bespoke financial solutions that cater to emerging markets and investors seeking neutral jurisdictions. “The ability to remain independent and serve as a bridge between competing economies will define the success of IFCs,” he stated.
LaNishka McSweeney highlighted the importance of digital transformation, stressing that IFCs that invest in AI-driven compliance tools and seamless cross-border transaction systems will lead the next wave of financial services. “The winners will be those who embrace technology to enhance efficiency and transparency,” she asserted. She encouraged IFCs to collaborate more: “We are going to have to start lobbying for ourselves as a block and telling the good story of the great things we have done and will continue to do—especially in the Caribbean, where we're more responsive, more proactive, and the opportunities are there. We just have to be ready to take advantage of them.”
Donovan emphasized the importance of ongoing dialogue and strategic adaptation: “The global financial landscape is evolving rapidly, and IFCs must remain proactive and innovative to thrive. Today’s discussion highlights the need for collaboration, agility, and a forward-thinking approach to ensure that jurisdictions like the BVI continue to play a vital role in global finance.”
BVI Finance remains committed to fostering thought leadership and providing a platform for critical discussions on the future of international finance.
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For more information, contact:
Shamahl A. Smith
Communications & Research Officer
ssmith@bvifinance.vg |Tel: 284-852-1957