Press Release
The Bahamas took center stage this week as the Presenting Sponsor at the sold-out annual STEP LATAM Conference held September 3-5th at the Hotel Presidente InterContinental Polanco in Mexico City.
Themed “Building Knowledge Across Borders: Advising Families Today and Tomorrow,” the gathering brought together more than 500 world-renowned wealth advisors, lawyers, bankers, trust professionals and accountants, including 42 sponsors. There were delegates from more than 40 countries in attendance, with an impressive 27 of them from The Bahamas.
The Bahamas’ support, through the attendance of The Bahamas Ministry of Economic Affairs, underscored the nation’s continued leadership as a premier international financial center offering sophisticated trust, estate and wealth structuring solutions for global families. The Bahamas was not only a presenting sponsor, but also the proud host of the Gala Dinner on September 5th at the stunning El Paplote Museum where guests were treated to a cultural evening of connection and celebration, further cementing The Bahamas’ role as a financial and cultural bridge between Latin America and the wider world.
The Bahamas’ industry knowledge was on display both days during the conference, with several Bahamas-based companies providing speakers for the panel discussions.
Brandace Duncanson, Director of Financial Services of the Ministry of Economic Affairs, presented this year’s Ministry update focusing on our robust financial services sector and reinforcing its position as a leading, compliant international financial center for the Latin American market.
“For The Bahamas, STEP holds particular importance,” Duncanson said. “Despite our small size, our country has one of the largest STEP memberships in the world, which reflects the depth of expertise among Bahamian professionals and the centrality of financial services to our national development. STEP LATAM provides an important bridge connecting the various elements of this sector.”
Aliya Allen, Partner at Graham Thompson and one of the speakers during the panel discussion on Public Registers of Beneficial Ownership, provided insights by comparing and contrasting which entities are in and out of scope of such a register, what information is made available, who is entitled to it, and the checks and balances related to privacy and confidentiality.
“STEP LATAM is one of the premier gatherings for the private wealth and fiduciary sector, and it gives The Bahamas a vital opportunity to contribute to global conversations that directly impact our industry,” Allen said. “The panel on public registers of beneficial ownership was especially important, as it goes to the heart of how we balance transparency with privacy, security, and the competitiveness of international financial centers. I was honored to highlight how our legislative framework delivers meaningful access for competent authorities, in line with FATF standards, while safeguarding clients from unnecessary risks.”
Paul Winder, SVP Trust & Business Development of The Winterbotham Trust Company (Bahamas) Limited, contributed as a speaker on the panel “Deep Dive Audits. Where in the world are the ultimate beneficiaries?” He discussed the benefits of carrying out regular and extensive reviews of trust and foundations structures, including: evaluating whether the structures comply with current requirements for a beneficiaries’ place of tax residency; whether they are in line with current family businesses; if there any USA beneficiaries; and whether the necessary tax filings have been made.
Additional Bahamas-based financial services companies were in attendance to support the conference, including the Windermere Group led by director John Lawrence, who is also a current board member of the STEP LATAM Conference, and COO Thomas Knowles, both of whom have attended the conference multiple years.
“STEP LATAM is about collaboration and forward thinking,” Lawrence said. “As this year’s theme suggests, we are stronger when we work together. The Bahamas is proud to stand shoulder to shoulder with our Latin American neighbors, sharing insights that ensure families can protect, grow and transfer wealth for generations to come.”
As shifting political, regulatory and social dynamics continue to evolve, The Bahamas remains recognized as a dependable partner dedicated to building cross-border partnerships that will shape the future of private client services.
