11 October 2021

Technology sector offers economic and employment opportunity for Bermuda

Employment opportunities that could emerge as a result of Bermuda's growing technology sector should not be underestimated, according to Steven Rees Davies, a partner at Carey Olsen Bermuda Limited and key adviser to clients in the technology space.

Steven, who is chairing a virtual breakout session, 'Living, Employed and Deployed in Tech Central', at this week's Bermuda Tech Summit (13 – 15 October), said there was a misconception that job creation would be limited and only available in highly specialised technical roles.

"I feel there is a perception that jobs in this fast-growing sector only exist in a finite number of areas, whereas the truth is that employment opportunities in this industry are, and will be, extremely similar to those that exist in any other," said Steven.

"Whether they be in legal, compliance and accounting roles or in office support, coding and engineering, the exact same network of jobs will be created that you already see in finance and other well-established industries in Bermuda. Sectors ancillary to a thriving technology industry would also see a notable uptick in on-island demand and opportunities as they would naturally need to grow to support it, which would be great news for the economy generally."

Panellists for the session, which takes place on Thursday 14 October, from 12.30pm – 1pm, comprise Jeff Baron, head of compliance at Bittrex; Stephanie Shih, general counsel at XBTO Offshore Group; and Tasha Jones, counterparty manager at Stablehouse.

Steven, who worked with the Bermuda government and other stakeholders in the introduction and development of Bermuda's digital asset legal and regulatory regime, represents a significant number of technology companies headquartered, or with operations, in Bermuda. He said he encouraged those keen to learn about what a successful technology sector means and looks like for Bermuda to attend the session.

"It's a really exciting time for anyone interested in being part of the global technology space and more specifically those businesses that Bermuda has already legislated for.  Bermuda has already become a destination of choice for those businesses looking for legal and regulatory credibility and certainty and so it is an ideal time for Bermuda residents to consider the growing number of options that are becoming available in this sector."

Hosted by the Bermuda Business Development Agency, this year's Bermuda Tech Summit is being held virtually from 13 – 15 October. Those interested in attending the breakout session, 'Living, Employed and Deployed in Tech Central', are invited to register for the event by visiting the summit website.

Carey Olsen is proud to be a silver sponsor of the event, which also sees Steven appearing as a panellist for a discussion around Bermuda's future digital infrastructure, while counsel Sheba Raza will be moderating a panel session on tech investment trends and the private wealth sector.

 

Carey Olsen Bermuda Limited is a company limited by shares incorporated in Bermuda and approved and recognised under the Bermuda Bar (Professional Companies) Rules 2009. The use of the title “Partner” is merely to denote seniority. Services are provided on the basis of our current terms of business, which can be viewed at: www.careyolsen.com/terms-business.

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