One of the longest serving members of Bank of Bermuda's global funds team, David Smith, is trading in the turquoise waters and quiet streets of Bermuda to move to Hong Kong where he will oversee global business development and client relationships for the funds group.

As global head of sales and client relationships, he will be responsible for ensuring that the bank maintains its valued relationships with clients while creating new solutions to meet their needs. He will also be an important point of contact for Asian clients when Paul Smith, head of global fund services, eventually departs the SAR for a post in the US or Europe - a move expected sometime soon.

Smith will continue to act as co-director of the Kangaroo Fund -- a cut-price incubator hedge fund for small alternative investment managers set up by Bank of Bermuda in Australia this July. The fund, established in conjunction with Goldman Sachs, PriceWaterhouseCoopers and Deacons, is designed to help local fund managers attract money from offshore investors by reducing their set up costs.

Prior to this move, Smith was head of global fund services for the Americas. He has extensive experience in the structuring and administration of investment funds and is a member of the global fund services executive board.

Smith is an associate of the Chartered Secretaries and Administrators Institute and a member of the Institute of Bankers in Bermuda.