Stanford Financial Group Breaks Ground on Caribbean Expansion
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Plans unveiled for sophisticated, environmentally friendly global management office complex in St. Croix ST. CROIX, U.S. Virgin Islands, Feb. 21 /PRNewswire/ -- Today, United States Virgin Islands Governor John P. deJongh, Jr., Lt. Governor Gregory R. Francis, President of the 27th Legislature of the Virgin Islands Usie R. Richards, and Executive Director of the Virgin Islands Port Authority Darlan Brin joined Sir Allen Stanford, Chairman and CEO of the Stanford Financial Group of companies, to break ground on construction of the Stanford Financial Group global management complex. The Stanford Financial Group global management complex will be located on a 37-acre site at the southwest corner of the Henry E. Rohlsen International Airport and will house the Stanford companies' worldwide management functions and serve as the head office for Stanford's operations in the Caribbean. The business campus will feature 105,000-square feet of office space with an expansive atrium, skylight and water feature. The main building will incorporate St. Croix's distinctive Danish West Indian style, architecture and elements. It will also include a conference facility that will accommodate more than 200 people. Also included in the complex is a 45,000-square-foot aviation hangar and office, a food pavilion and a lounge area for staff and guests. The office building will be among the first in the Caribbean to be certified according to standards set forth by LEED ("Leadership in Energy and Environmental Design Green Building Rating System(TM)"). LEED certification is the benchmark for design, construction and operation of efficient "green" buildings. Local vendors, contractors and consultants will be used for the construction of the complex which will result in the creation of over 500 construction employment opportunities on St. Croix. A substantial number of permanent jobs will become available upon completion of the complex. "Today is an exciting day for the Stanford Financial Group of companies," said Sir Allen Stanford. "Not only are we breaking ground on a facility that will house the top-tier team that makes up Stanford Financial Group Global Management, but we are expanding our footprint in the Caribbean with a permanent business home in St. Croix. We are committed to an environmentally friendly development and will do our part to be "green," and nowhere is that more important than in the Caribbean where the environment is so beautiful and must be preserved and protected at whatever cost." Governor John P. deJongh expressed similar sentiments regarding the impact Stanford's expansion will bring to St. Croix stating, "I see the relationship between Stanford Financial and the U.S. Virgin Islands as positioning the Territory to become a beacon of business opportunity and employment possibilities. I am pleased to be a part of a tremendous day for St. Croix and for Stanford Financial." The new, state-of-the-art facility will serve as the base for the corporate support functions of Stanford's global network of financial services companies, including the Chairman's office and the business technology, compliance, finance, human resources, investment strategy and legal departments. Stanford will also establish in St. Croix the management offices for the Stanford 20/20 Cricket Tournament and Stanford Caribbean Investments. The projected completion date of the Stanford global management complex is July 2009. About Stanford Financial Group Stanford Financial Group is a privately held global network of independent, affiliated financial services companies led by Chairman and CEO Sir Allen Stanford. The first Stanford company was founded by his grandfather, Lodis B. Stanford in 1932. Stanford's core businesses are private wealth management and investment banking for institutions and emerging growth companies. The Stanford Financial Group of companies provides private and institutional investors with global expertise in asset allocation strategies, investment advisory services, award-winning policy and equity research, international private banking and trust administration, commercial banking, investment banking, merchant banking, institutional sales and trading, real estate investment and insurance. Stanford has over $43 billion in assets under management or advisement. Stanford Financial has made it a priority to invest in the communities in which it operates across the globe through signature corporate philanthropy initiatives with nonprofit organizations such as St. Jude Children's Research Hospital and countless local and national charities that strengthen communities. Securities products and services in the United States are offered through Stanford Group Company, member FINRA/SIPC. Stanford Financial Group is not a legal entity, but a registered trademark that encompasses the global network of independent, but affiliated, privately held and wholly owned entities. More information on the company can be found at www.stanfordfinancial.com SOURCE Stanford Financial Group Lori Guyton of Stanford Financial Group, +1-901-523-0011, email@example.com