Nearly a year after it set up shop in Gibraltar, Euroship Supplies Ltd has established itself as the largest Ship Chandler on the Rock.

Euroship offers vessels calling at Gibraltar and Algeciras, as well as the local maritime industry and shipping community, the widest range of products and services. The company has had a very busy 12 months and has won an increasing number of contracts as its Gibraltar base has grown steadily. One recent win was a contract to supply materials for the cruise ship Royal Princess for its refit carried out in Gibraltar by its new owners. Euroship has also been the key supplier to the “New Flame” salvage operation.
“We spotted a gap in the local market some time ago and we spent quite a lot of time considering how best to fill that gap,” said Juan Carlos Rivera, Euroship’s General Manager. “In the end though we decided that the best way was just to get on and do it ourselves. It has taken a little longer this way and our learning curve has been steep, but we can see that there is still massive potential for this business.”
The potential would appear to be there. Over the last ten years the number of ships calling at Gibraltar has more than doubled from around 3700 in 1996 to over 7500 in 2006 according to the Port of Gibraltar. With Gibraltar and neighbouring Algeciras making a play among ship owners and ship charterers to become the ports of choice in the south western Mediterranean, the growth looks set to continue. Around 90,000 merchant vessels pass through the nearby Straits of Gibraltar each year, as do one in every five of the world’s containers, so the potential would seem as close to a racing certainty as one could hope for.
“The growth is there but just as the market expands so the competition gets more intense. We can supply most things a vessel and its crew needs, more often than not at very short notice. Our costs may not always be the lowest given Gibraltar’s relatively high cost base, but we have found that customers will pay for the convenience and certainty of getting the service. There is also the added competition from non-local chandlers operating in Spain who come into Gibraltar on a daily basis. The airport obviously gives Gibraltar another advantage if we need to fly in crew or spare parts quickly for a visiting vessel.”
“Our staff are experienced professionals who understand the importance of working round the clock to meet all the customer’s requirements in a clear and timely manner. We are one of the largest suppliers of specialist marine, industrial and technical products in the western Mediterranean and if there is something that we don’t have in stock we can usually source it pretty quickly.”
“Although we supply goods and services predominantly to vessels calling at Gibraltar or at off port limits, we will also supply vessels calling at Algeciras if the need arises. We are building up our Algeciras operations and once we are fully established there, we plan to set up in Morocco so that we can supply vessels calling at any of the three major Strait ports.”

As part of their ongoing commitment to Gibraltar, Barclays Wealth recently held a Sports Sponsors evening at the Rock Hotel.

Joining Government Minister Edwin Reyes, representatives of the sporting organisations currently enjoying sponsorship from Barclays Wealth, heard first hand about Franco Cassar’s vision and strategy in involving Barclays Wealth with junior, grass roots level sports in Gibraltar.

From football to hockey, handball to gymnastics, rowing to squash, Barclays Wealth is committed to assist these and other organisations in shaping our youth of today into athletes of tomorrow.

Named “Enterprise Gibraltar” the idea of the show is to educate the expatriate community in Spain on how to go about doing business in Gibraltar, and the merits of Gibraltar’s well – regulated finance centre. The show will go out monthly live from the 8th floor of the Eliott Hotel.

The first guests on the Show Hosted by REM´s Maurice Boland were Chief Minister Peter Caruana, Dominique Searle, Editor of the Gibraltar Chronicle, and Kerry Blight Chairman of the Gibraltar Bankers Association.

Argus Group Holdings Limited announced earnings for the six months ended September 30, 2007 of $18.5 million, up 6.8 percent from the corresponding period in the previous year.

Gerald Simons, President & Chief Executive Officer of the Argus Group, comments: “We are pleased to report that the Group’s strategy of focusing on growth by building upon the strong foundations of our core businesses – life, pensions, health and property & casualty insurance – has yielded good results in all areas of our business. This, together with enhanced commission income and acceptable investment returns, especially in light of recent market conditions, has combined to produce record earnings for the six months ended September 30, 2007.

Andy Baker, Chief Executive of the local Argus Insurance Company said: “The overall increases in premiums coupled with our strong results are
very pleasing”.
Andy went on to say: “The local wholly owned subsidiary continues to add to the group’s bottom line, thanks to our well managed and motivated team here in Gibraltar”.
At a recent board meeting held in Gibraltar, members of the main Board of Argus Bermuda, congratulated the local team on the success of the Gibraltar operation, and reiterated how important Argus Europe was to the long-term strategy of the Argus group.

General account assets of the Argus Group at September 30, 2007 totalled $645 million
and segregated funds assets under its control increased to $1.3 billion. The Group now has assets of almost $2 billion under
its administration.

The ‘No trick, just the treats’ Barclays promotion this Halloween raised three thousand pounds for Save the Children Fund.

Barclays customers were encouraged to dress their children in Halloween costumes to receive a treat, a sweet stuffed pumpkin. Barclays staff, not ones to miss a trick, suitably attired themselves in costumes as evidenced by the photograph. A fun day of hocus pocus was had by all and Barclays Wealth as is now customary matching pound for pound the monies raised.

General Insurance brokers WestMed Insurance Services Ltd and International Health Insurance (IHI), a member of the BUPA group, co-hosted an international health insurance seminar at the O´Callaghan Eliott’s Hotel on 27th November attended by an audience of key corporate guests.

Introducing Susanne Bech Madsen, Branch Office Manager IHI Spain, Tyrone Montovio, Chief Executive of WestMed Insurance Services Ltd said “At WestMed we are committed to excelling in providing service and solutions to our clients ever growing needs of which Private Medical Insurance is key. BUPA´s connection with International Health Insurance (IHI) has served to strengthen the framework of health insurance needs throughout the world and it is with great pleasure that I welcome you to experience IHI as a fresh alternative approach to Health Insurance for Gibraltar.”

In addition to explaining IHI’s established ties with BUPA International, the audience were given details of noteworthy benefits offered in their Corporate, Individual and Travel Insurance Plans. These include dental and optical cover options not normally available from other insurers, no exclusions on pre-existing conditions and free cover for any number of children under 9 years of age for each adult policyholder.

Excited. Exhuberant. Exceptional’ were the first words that came from David and Esther Hassan as they took the key for their new apartment in Tradewinds.

“I never knew that it would be so spacious, with so much natural light,” marvelled Esther. “When we chose Taylor Woodrow we knew we could rely on them to deliver the project on time but the reality has just taken my breath away. We love the Poggenpohl kitchens, the wooden floors and the beautifully appointed bathrooms. The sheer space of it, walking in here makes a real statement,” added her husband. “Quality at its best. We are so proud to be the first to live here.”

NatWest, the main sponsor of the NatWest Island Games, is to extend its sponsorship agreement with the International Island Games Association (IGA) for a further two years.
The new deal will guarantee sponsorship of the Games until after the 2011 competition in the Isle of Wight and means that NatWest will sponsor the inter-island competition for a seventh consecutive year.

NatWest’s funding to the IGA provides contributions for the running costs of the Games, the staffing of the IGA office in the Isle of Man and the organising committees of the host islands.

NatWest also support a Development Scheme that provides funding for member islands and has to date provided financial assistance of over £70,000 for island sport development.

James Morris, Head of Retail Banking at NatWest for the offshore islands, commented: “Our long association with the IGA has been very enjoyable and rewarding. We are proud to be involved with the NatWest Island Games which is so popular in the sporting calendar and continues to develop its well earned reputation as ‘the friendly games’.”
Jorgen Pettersson, Chairman of the IGA Executive Committee, added: “The IGA is delighted that NatWest have agreed to extend the sponsorship so it covers the 2011 Island Games in the Isle of Wight. We have forged a strong working relationship with NatWest and our partnership will ensure that the success of the Games will continue. The NatWest Island Games makes a difference by bringing islands together in the spirit of friendship and competition”.

RBS Gibraltar Talent Academy staff learn leadership skills from former Bank Chairman
Staff from The Royal Bank of Scotland International (RBS International) in Gibraltar travelled to Jersey on the 10th – 11th September to meet with Sir George Mathewson, CBE, former Chairman of The Royal Bank of Scotland Group, as part of a two day leadership training event.

Pictured are Gillian Balban, Amy Ballantine, Diane Peralta, Joanne Balban, Neil Winstanley, Nick Gordon, Sir George Mathewson, Jordan Rammagge, Lino Brydges and Ian Henderson.
The staff, who work for RBS International and NatWest are members of the Bank’s Talent Academy, which provides an accelerated development programme for high performing employees. They joined their Academy colleagues from Jersey, the Isle of Man and Guernsey for the event, where Sir George gave a motivational talk on leadership.

Ian Henderson, Chief Executive, RBS International, commented: “Sir George is a hugely experienced and influential business figure and we were delighted that he managed to find some time out of his busy international schedule. The Talent Academy is a two year programme designed to develop leadership skills and to enhance the career potential of many of our most high calibre employees and is an example of the huge importance that we place on the career development of our staff. The visit by Sir George to Jersey was a golden opportunity for our Gibraltar–based employees within the Academy to hear first hand from one of Britain’s most experienced business leaders of recent times and someone with a close understanding of the RBS group, its goals and values.’

Sir George was Chairman from 2001 until 2006 and remains an adviser to the banking group.

There is usually a major catalyst behind change. In our case the decision to update our corporate image cannot be attributed to any one single event. Instead, there were a number of reasons why the partners of ISOLAS took that decision.

Without doubt one of the major factors was our desire to communicate to our clients and the business community at large what we as a firm represent; a vibrant and energetic modern law firm, whilst at the same time maintaining those traditional family firm values which our clients feel makes us stand out from the rest. We felt that one obvious way of achieving this was to update our corporate image and improve communication with our clients. Thus, we embarked on a major review, involving and listening, where possible, to the thoughts of some of our closest clients and friends. However, things didn’t stop with a change of letterhead, business cards and other stationery. Hence, we are now able to launch our new and improved website and brochure as well as our new style. We are confident that we have achieved what we set out to do and that we have achieved the goals we set ourselves as a firm when we embarked on this project.
Undoubtedly, another factor influencing our decision was the growth of the firm in terms of numbers and the direction it had taken over the last few years. With the firm now having an increased number of lawyers and partners, it was felt that the change of name to ISOLAS properly reflected the direction the firm had taken. However, the partners felt that the tradition and history of the firm should somehow be retained and reflected in the new corporate image and hence ‘1892’, the year to which we can trace back the commencement of the legal practice, formed a part of the firm’s logo.
Perhaps, without realising it at the time, the sad loss, early last year, of Peter J Isola was also a contributing factor. The impact of his passing was felt throughout the firm, not only by his sons and nephew but also by all the lawyers and staff members alike, who all felt, without exception, as if they had lost a close family member. It is at times like this that the mind focuses on the future and despite the great loss, a desire to move onwards and upwards slowly emerged, never forgetting the past but embracing the future.
The ‘change’ that the firm has undergone over the last few years is perhaps further illustrated by the fact that for the first time in the long history of the firm, a person not bearing the Isola name was appointed as Managing Partner, with Peter A Isola adopting the role of Senior Partner.
In keeping with the Partners’ vision of how the firm was evolving, a major office refurbishment programme is being undertaken. Undoubtedly, the most visible part of the refurbishment programme is the opening of our new spacious and modern ground floor reception area at Portland House.

The change at ISOLAS has not only been cosmetic. A careful review of our working practices and systems, after close consultation with a number of clients, has been undertaken. This has led to increased staff training, greater investment and upgrade in IT and software and the creation and development of a ‘client portal system’, the first law firm in Gibraltar to add this innovation. We are confident that all these measures will result in an even better service to our clients, with more direct communication and online access through the ‘client portal system’, to regular updates on all matters we handle for them.
We pride ourselves on being innovative and in touch with both our clients and industry needs and as such, the project upon which we have embarked has no completion date. Instead, we are committed to consulting and listening and constantly striving to improve the service we provide yet at the same time, never losing sight and always remaining conscious of what makes us unique as a firm, the personal relationships and the traditional values of a long established family law firm. We are looking forward to the next 115 years!