Fidelity Bank & Trust International (FBTI) is formed as a holding company in The Bahamas
FBTI purchases British American’s Banking Division, expanding its operations
• New acquisitions include British American Bank (Bahamas), British American Bank (Cayman), and BritAm Insurance (Cayman)
• FBTI completes first investment banking transaction
• FBTI is financed by raising $5m in equity and $7.2m in preference shares through a Private Placement and $17m in bank debt
FBTI sets up Fidelity Merchant Bank & Trust (FMBT) and takes over the trading of public shares from Coutts, becoming the first market maker in the Bahamas
• FBTI adopts its mission statement “To Help Clients Create and Manage Wealth”
• FBTI creates pension administration business, following the government of The Bahamas’ announcement of new pension legislation
FBTI completes second capital raise, rising $10m for Bahamas Ferries
• FBTI purchases Coutts’ share registrar and transfer business.
• FBTI launches the first Multi-Employer Pension Fund in The Bahamas
FBTI establishes its first public mutual fund
• The fund was a balanced offering called the Fidelity Growth & Income Fund
FBTI establishes its trust business
• FBTI creates its first property fund and listed it on BISX
Between 1997 and 2001, FBTI assists in bringing 14 companies to market
• This move increased the number of public companies from 7 to 21
FTBI provides first BDR offering for Kerzner International hotel group
50% of the FMBT is sold to Royal Bank of Canada (RBC). This becomes RF Merchant Bank & Trust (RFMBT)
• RFMBT is offered the first Principal Protected Security in The Bahamas – TIGRS
RFMBT (Barbados) opens operations
• In 2009, RFMBT is offered the first Principal Protected Security in Barbados – TIGRS
RFMBT launches its Global Invest product, allowing Bahamians to access investments in international markets. This follows a legislative change by The Bahamas government on international investments
• RFMBT completes the largest Private Placement in The Bahamas at $134 million, $75 million of which was new B$ Bond debt that replaced overseas USD creditors
• RFMBT reached $2B for assets under administration
RFMBT Management buys out RBC and Fidelity Bank to acquire 100% ownership in RFMBT under a new holding company, RF Holdings
RF expands into the Cayman Islands with the acquisition of the Fidelity Pension Plan. RF establishes RF Bank & Trust (Cayman) Ltd
RF Bank & Trust’s Cayman Islands operation receives bank, trust and securities license
RF creates the Strat Equity Fund in The Bahamas
RF launches the Barbados Property Fund called the Preferred Property Fund
RF Bank & Trust’s Bahamas operation is granted an authorised dealer license (Foreign exchange or Forex)
RF Bank & Trust’s Bahamas operation becomes a member of the ACH
