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This profile was last updated on 11/7/14  and contains information from public web pages and contributions from the ZoomInfo community.

Mr. Thomas M. Bayer

Wrong Thomas M. Bayer?

Chairman

Bayer Group of Companies
Phone: (214) ***-****  HQ Phone
Bayer AG
Kaiser-Wilhelm-Allee 1
Leverkusen , d-51368
Germany

Company Description: Bayer AG is the management holding company for the Bayer Group. The Company’s business operations are organized into three groups: Bayer HealthCare, which is...   more
Background

Employment History

  • Chairman
    Vanuatu Financial Services Commission
  • Executive Chairman
    PITCO- Pacific International Trust Company Limited
  • First Vice President and Treasurer
    Vanuatu National Private Sector Organisation

Board Memberships and Affiliations

Education

  • MBA
    Wharton School of Finance at The University of Pennsylvania
  • management
    Lehigh University
16 Total References
Web References
Thomas Bayer is the Chairman ...
pipso.org, 7 Nov 2014 [cached]
Thomas Bayer is the Chairman of the Bayer Group of Companies which consists of 50 companies operating in 8 countries (including Fidelity Pacific Life Insurance Company in Canada). He has been with the group for over 40 years. Mr. Bayer is also the 1st Vice President and Treasurer of the Vanuatu National Private Sector Organisation and is a Director of the Reserve Bank of Vanuatu. He was the Chairman of the Vanuatu Financial Services Commission from 1993-2005, and is a Fellow of the Institute of Financial Consultants (Canada), the Financial Services Institute (AUST), the Taxation Institute (AUST) and a member of the International Bar Association, the Society of trust Estate Practitioners, and the Offshore Institute.
Global Custodian
www.globalcustodian.com, 26 Dec 2001 [cached]
"Overseas organizations keep saying there is money laundering going on in Vanuatu, but nobody ever comes up with an example," notes Thomas Bayer, chairman of the Vanuatu Financial Services Commission and head of a group of financial service companies based in Port Vila.
...
Bayer shakes his head in disbelief."Nothing gets laundered in Nauru.They do not have a currency; they do not have a central bank.If any bank is set up in Nauru to launder money, it would have to be done in some other country."
Bayer says one of his own firms, European Bank Ltd., had a Russian client that was involved in fertilizer and oil.The company had bank accounts in Vanuatu, London and Australia."KPMG was the auditor and a big legal firm represented them.Because this big Russian company had a base in Vanuatu, it was suspected of money laundering.Well, that company did almost no banking here; all the banking happened in London or Australia."
Even the US government has made claims that Vanuatu is a "jurisdiction of prime concern" for money laundering, and companies such as The Bank of New York (BNY) put a ban on bank dealings with Vanuatu.
...
To fight the charges, Bayer led a delegation to New York, talking to concerned banks such as Chase, Bankers Trust and BNY."They thought nobody would contest," says Bayer."Bankers Trust said, ‘We do not deal with you guys, but we thought it safer to support a ban and, if you didn't show up, we figured we would be right.' They lifted the ban."
Bayer, however, does admit his bank got caught in a money laundering problem."We received some money that had its source from credit card fraud in America, went through the Caymans and some ended up deposited in our bank.When we became suspicious, we went to the court and had the money frozen.The Americans showed up, tried to get the freeze lifted so they could take the money away, but no one had yet been convicted of a crime.We are still fighting it.We blew the whistle, but it is their one example of money laundering in Vanuatu."
...
"Vanuatu's biggest markets are Australia and New Zealand, but, as we proceed into the future, Asia has become a major market, from Burma to Japan, because they are within approximate time zones," says Bayer."We can talk to them during the day.If something happens in Hong Kong and something needs to be put on our books, it can all be done in the same day."
Vanuatu, like all the Pacific finance centers, is weak on fund management.In Vanuatu, there is only one fund manager that manages funds incorporated in Canada.This is the result of Vanuatu competitively suffering from a stamp duty issue.
...
"No other offshore jurisdiction in the world charges you a stamp duty on transfer of shares or units," explains Bayer."Hence, there are no funds legally created and based in Vanuatu."
...
From a humble posting over 30 years ago, Bayer, a native Pennsylvanian, has pasted together what he calls a family enterprise of sister companies (there is no central holding company).He graduated with a degree in management from Lehigh University and an MBA from the Wharton School of Finance at The University of Pennsylvania.In the mid-1960s, he took a job in Australia, later moving to Singapore before winding up in Port Vila to join the Pacific International Trust Co.Ltd., better known as PITCO.In 1984, Bayer family interests bought all the equity in PITCO, eventually building it into the largest trust operation in Vanuatu.
Five years later, the same family interests acquired Vanuatu's European Bank Ltd. and its subsidiary, European Trust Co.Ltd.The bank also has a sister company, Asia Pacific Finance, based in London.Now, European Bank and Asia Pacific Finance are wholly owned subsidiaries of a Delaware, USA holding company called European Capital Holding Corp.
...
"We have the contract to run the ship registry in Vanuatu using our operating office in New York," explains Bayer."We now have over 500 vessels around the world flying our flag."Bayer's family of companies employs 100 people worldwide, with 55 of those workers based in Vanuatu.
One of the group's more significant companies is called Pacific Fund Managers Ltd., a manager of funds domiciled in Canada, the most important of which is the Pacific Capital Growth Fund Ltd. (PCGF).PCGF comprises seven currency funds that invest in bank deposits with leading international banks and provide shareholders with foreign currency investments in Australian dollar, deutschmark, Japanese yen, New Zealand dollar, pound sterling, Swiss franc and US dollar.
...
"We no longer have any equity funds," says Bayer."We do only fixed income, currency and managed currency."
PCGF did have an equity fund until last year, but the company wrote to all its investors to say it was closing the fund and giving the money back because as, Bayer says, "the market was out of control."That was in February 2000.It was great timing, because the New York stock market slumped soon afterwards."Nothing made sense to us," says Bayer, "and we would rather see that the investors had their money back."As it turned out, it was a fortuitous decision for all concerned. -SB
Back to home page
Lowtax News Story
www.lowtax.net, 17 July 2001 [cached]
We believe it is being purposely done, because it does not suit foreign authorities to have any offshore jurisdictions that they don't control," said Thomas Bayer, the Chairman of the Vanuatu Financial Services Commission.
Both of the Australian banks have offered their support to the Vanuatu Government, who have sent a delegation to New York to convince the US banks to rescind the ban pending the outcome of an audit of Vanuatu's banking practices and regulation by the Financial Action Task Force in March.
Incorporation, Incorporation Services, Company Incorporation
www.companiesinc.com, 14 Feb 2000 [cached]
Thomas Bayer, Chairman of the Vanuatu Financial Services Commission, said: "In-depth inspections of all Vanuatu exempted banks with Russian connections will shortly commence, with the assistance of the British Government."
Member: Mr. Thomas Bayer ...
pipso.org, 2 April 2014 [cached]
Member: Mr. Thomas Bayer (Vanuatu)
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