Discussions are at the advanced stage and both Bermuda Realty and Jones Waddington Ltd. believe that there are significant positive elements that would make this a successful relationship for both parties. Both companies are working on an integration plan to bring these two flourishing organizations together.
Wayne Jackson, President of Bermuda Realty, said: "I am very enthusiastic about this new direction that is consistent with our desire to try and create a secure future for our staff. I think it is good news for both the staff and clients of Bermuda Realty."
Arthur Jones, President of Jones Waddington Ltd., said: This is an exciting opportunity for us and for the staff at Bermuda Realty. We have the chance to combine the talents of some very motivated individuals, who can benefit directly from our affiliation with COLDWELL BANKER, as we have in the past year, to set a new standard of service for the real estate market in Bermuda.
Although it was Bank of Bermuda's original intention to facilitate a management buy-out, it had become apparent that the joining of Bermuda Realty with an established, reputable local firm was a more attractive option. Alan Richardson, Executive Vice President, Retail Clients, Bank of Bermuda, said: "We are delighted that Jones Waddington Ltd. has expressed positive interest in this idea. This represents a significant opportunity to achieve our principal objective of trying to keep the successful Bermuda Realty team together. We are very please with this development and look forward to completing a smooth and successful integration of the two businesses."
For further inquiries on Bermuda Realty Co. Ltd., contact Mrs. Judith P. Doidge., telephone 441-299-5058 or fax 441-299-6543.