New Providence, The Bahamas – Scotia Wealth Management has been recognized with the Best International Private Bank award at the Euromoney Private Bank Awards for 2025. This award recognizes Scotia Wealth Management’s excellence in delivering industry-leading wealth management services across the Bahamas.

“We are very honoured that Scotiabank has been recognised with this prestigious award that highlight our focus on delivering a globally consistent, client-centered approach to wealth management throughout our international footprint. Our clients have benefitted from a total wealth approach, allowing them to access private banking, wealth lending, investment advisory and trust services. These awards reflect the dedication of our team, the strength of our solutions, and our commitment to deliver the best to our clients for over 65 years in The Bahamas. Through Enriched Thinking – our client-centred philosophy, we align our clients’ goals with our local and global expertise to create tailored investment plans and solutions to help them reach their long-term goals.” – Gerardo Escruceria, Regional Head Private Banking, Scotiabank.

Our Scotia Wealth Management teams are committed to being our clients’ most trusted financial partner across wealth management services and throughout our international footprint. We continue to grow and evolve our innovative Total Wealth Approach, which provides a consistent client experience across our core markets in Mexico, Peru, Chile, Jamaica, the Cayman Islands and the Bahamas.

“I am very proud of our team of specialists who continue to deliver value through our client-centred approach,” said Raquel Costa, Senior Vice-President, International Wealth Management at Scotiabank. “These awards highlight our global focus on the client experience and our continued drive across our international footprint to develop tailored plans and solutions to help our clients meet their long-term goals.”

The Euromoney Private Bank Awards recognize the best in private banking and wealth management across the globe, identifying the banks that can best demonstrate how they have excelled in providing their clients with the best possible advice, service and solutions.

Scotia Wealth Management was presented with the following awards in Latin America and the Caribbean:

• The Bahamas’ Best International Private Bank
• The Cayman Islands’ Best International Private Bank
• Jamaica’s Best International Private Bank
• Latin America’s Best for Fund Selection
• Canada’s Best for Succession Planning
• Mexico’s Best for Family Office Services
• Peru’s Best for Digital Solutions

For more information about Scotiabank’s wealth management The Bahamas solutions, please visit bs.scotiabank.com/scotia-wealth-management.html

Freeport, Grand Bahama, May 15, 2025

Exciting announcements:

$827 million investment
1750 permanent jobs
1300 construction jobs

Seven-pronged vision includes cruise friendly hotel; redesigned Greg Norman signature golf course; marina; convention space; new pool casino; and refurbished Port Lucaya marina which is being acquired in the deal.

ZNS reported that “money is in the bank” according to Chester Cooper, the investment and tourism minister.

Packed room to hear the announcement of the new Lucayan Hotel which will shutter in order to accommodate the redevelopment.

Staff to be supported during this time.

There is skepticism but also optimism as this deal feels more real than previous two and is touted as a solid fit.

Curt Hollingsworth, Bahamas Consul General based in Florida gets an admirable, honourable mention as being the one to introduce Steve Sirang to the Prime Minister.

Grand Bahama Minister Ginger Moxey described the momentous occasion this way, “I proudly witnessed the signing of the Heads of Agreement
for the sale and redevelopment of the Grand Lucayan Resort to Ancient Waters Bahamas
Limited, wholly owned by Concord Wilshire Capital, LLC. Concord Wilshire is widely
known for stellar and award-winning developments.”

A third event is slated for Port Lucaya Marketplace; it follows the signing and a reception on the Great Lawn of the resort and mock demolition of the luxury lanai suites.

▪️A Magnetic Media report▪️

Photo is a screenshot of ZNS Live coverage

Deandrea Hamilton

Editor 

NASSAU, BAHAMAS — A sophisticated online scam promising over $42,000 in government-issued payments has triggered alarm in The Bahamas, prompting a swift and stern warning from the Ministry of Economic Affairs. The elaborate hoax, now pulled from the internet, featured a fake Q&A-style interview with Minister Michael Halkitis — complete with doctored quotes, government-like branding, and the logo of a major national newspaper.

At the heart of the scam was a too-good-to-be-true offer: a special financial program allegedly reserved for 4,000 Bahamians, each set to receive $3,500 BSD monthly. The phony article, disguised as a legitimate news piece, falsely claimed the initiative had government backing and featured a fabricated interview in which Minister Halkitis appeared to endorse the program.

In a press statement issued May 13, Minister Halkitis categorically denied any involvement and called the website “very likely a website created with malicious intent.” The Ministry emphasized that neither the Minister nor any government agency is connected to the claims being circulated.

“This message was not sent out by the Minister nor is he in any way affiliated with this group or any services they claim to be offering,” the statement read. “We strongly advise members of the public to avoid submitting any personal information or making payments to this website.”

The fraudulent site not only exploited the Minister’s name and likeness but also leveraged the brand of The Nassau Guardian, one of the country’s oldest and most reputable newspapers, to boost credibility. The result was a dangerously convincing piece of disinformation that has since been flagged and removed — but not before circulating widely on social media.

Government officials are urging residents to report any suspicious links or ads they encounter and to be cautious of offers that require payment or the submission of sensitive personal information. The matter has been referred to the Royal Bahamas Police Force for further investigation.

The Ministry is also advising Bahamians who may have interacted with the scam to take immediate corrective action, including changing passwords and contacting their banks or relevant authorities.

“We encourage the public to remain vigilant and always verify information through official sources before taking any action,” the Ministry urged.

This latest incident underscores the evolving sophistication of online scams in the region and highlights the importance of digital literacy and healthy skepticism when encountering sensational claims — particularly those promising unearned wealth.