The third annual Financial Services Challenge took place at Nanny
Cay Marina on Sunday, June 24. It also proved to be third time lucky
for Conyers Dill & Pearman (Conyers).
Conditions were absolutely perfect as Guy Eldridge, partner at Conyers, and his team went into the final race tied on points with Deloitte. This race would decide who took the International Finance Centre Cup home. It turned out to be a real nail biter. Race 11 saw a picture perfect start with all 11 IC24s hitting the line with speed.
Bryshaun Scatcliffe, helming for Conyers, managed to win the pin end
with great speed as they took off along the shore just off Nanny Cay.
Andrew Waters helming for Deloitte started midline and looked to be in
great shape finding clean air and the freedom to tack off when he
wanted.
As Conyers tacked back towards the fleet it became obvious that the committee boat end of the line had been favoured.
Team
Deloitte crossed comfortably and managed to get three boats between
themselves and Conyers once the windward gate had been rounded. It all
looked to be over until the two teams took opposite leeward marks and
Conyers sailed a great final upwind leg to get ahead of Deloitte by the
windward mark.
Conyers sailed the last run home to the finish to
win the event. Deloitte took second place under their skipper Andrew
Waters and third place went to Ogier, helmed by George Lane.
Conyers
came second in the 2005 and 2006 Financial Services Challenges. At the
prize giving held on Nanny Cay beach, Guy Eldridge praised Bryshaun for
steering the team to victory. "It was great to have the event go down
to the wire - the effort of staying mentally focused for that long was
exhilarating and draining." said Guy. "I was very excited for our
helmsman, 17 year old Bryshaun Scatliffe, who proved himself in the
front rank of BVI's young up and coming sailors by driving us to the
win after two years of placing second.
"He was aggressive in
claiming the pole position at the starts and handling the boat in tight
spots on the race course. He showed exceptional maturity by leading us
to several important comebacks when things did not go well for us
initially."
The event, organised by Racing in Paradise and
sponsored by the BVI International Finance Centre was sold out with
eleven teams entered from companies within the BVI financial services
sector.
The new rule for this year allowed teams to engage the
services of one or two sailors to improve their chances. This meant
that many smaller companies were able to get out there and 'mix it up'
which resulted in a full entry of the eleven teams.
The
participating teams were Banco Popular; Beacon Capital Management;
Conyers Dill & Pearman; Deloitte; INTAC (winners of the inaugural
event); Maples & Calder; Nerine; Ogier; RSM; Tricor; and Walkers.
The
teams met at the Royal BVI Yacht Club on the Friday preceding the event
for the weigh in, briefing and Moet & Chandon Brut Imperial
(Epernay) N/V reception.
Saturday was practice day and the
battle began Sunday morning with a light breeze. After lunch the wind
increased to take the event to 11 races in a "do or die" finale.
Spectators joined organizer Richard Wooldridge at the 'FSC village' to listen to his live commentary and to watch the races.
Final
results were posted and the prize giving took place in front of a full
house. RSM received a magnum of champagne for being the best dressed
team with all members modeling a blue 'tropical' shirt.
Team
Maples & Calder was awarded a prize for great sportsmanship. Each
of the crew members took the helm for at least one race giving novices
a chance to get a real taste of the thrill of being 'in control'.
Final Results:
1st Conyers Dill & Pearman - 33 points
2nd Deloitte - 35 points
3rd Ogier - 49 points
4th Intac - 50 points
5th Nerine - 53 points
6th Walkers - 54 points
7th Banco Popular - 71 points
8th Tricor - 82 points
9th Beacon Capital Management - 84 points
10th Maples & Calder - 102 points
11th RSM - 116 points.
The
evening rolled on with the RBVIYC laying on a BBQ dinner and serving
drinks from their mobile bar, which also serves as 'The Protest Room'.
"This
has been the best event of the three years for the Financial Services
Challenge," commented Humphry Leue, Chief Operations Officer of the
event sponsors, BVI International Finance Centre.
"We have
supported this event from its inception and based on this year's
response, I can say that the BVI IFC will be proud to continue to
sponsor the Financial Services Challenge. It's been a great day out for
everyone and seems to have been thoroughly enjoyed by all. We set about
creating a fun, relaxed and informal event at which industry members
could meet and mingle. I think we achieved that here today and I thank
all those involved from organizers to racers and supporters for making
this a success."
The BVI International Finance Centre (IFC) is
the primary event sponsor. The IFC is a dedicated unit within the BVI
Government with the remit to enhance and promote the reputation of the
BVI as a premier international finance centre to all current and future
stakeholders and to provide assistance and advice to those seeking to
utilise the facilities and capabilities of the BVI as an international
centre for financial services.
The launch of the IFC in 2003
marked the final stage in the BVI Government's plans to separate the
marketing and regulatory functions for the industry.During the past 20
years, the British Virgin Islands has become a leading international
financial centre. It is home to the second largest offshore hedge fund
industry in the world and is a leader in the captive insurance
licensing and trust and estates administration.
Much of the
Territory's success has come as a result of its International Business
Companies (IBC) legislation, passed in 1984. Since the adoption of the
IBC Act, more than 750,000 companies have registered in the Territory.
For more information on the event and Racing In Paradise visit: www.racinginparadise.com
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