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Investment Team

Committed to Excellence and Quality Service

» James Smith | Chairman

A former member of the Bahamas Senate and Minister of State in the Ministry of Finance, James Smith is widely acknowledged as a leading expert on monetary policies and financial services. He has served as the country’s ambassador for Trade in the Office of the Prime Minister the Governor of the Central Bank of The Bahamas for 10 years and Chairman of the Negotiating Group on Services in the Free Trade Areas of the Americas (FTAA) process. Mr. Smith has served as Chairman of the Bahamas Maritime Authority, The Paradise Island Bridge Company and The Bahamas Development Bank. He has been a member of the Board of Directors of many public and private companies including the Bahamas International Stock Exchange (BISX).

» Anthony R. Ferguson | President

Mr. Ferguson CFA, CMT, MCSI, CI Arb is President and Founder of CFAL and President of The Nassau Guardian media group. With more than 24 years of experience in the investment industry, he is a Registered Investment Advisor and currently holds the Chartered Financial Analyst (CFA) designation. He currently serves as Director of Colina Insurance Limited, Colina General Insurance Agency, Ansbacher Bahamas Limited, AF Holdings Limited, Dolphin Capital Management Limited, The Airport Authority of the Bahamas and The Nassau Airport Development Company.  Mr. Ferguson is a past director of the National Insurance Board of The Bahamas, past president of the Bahamas Society of Financial Analysts, former Deputy Chairman of the Bahamas Financial Services Board, and a former member of the Securities Market Task Force. He is also a former member of the government-appointed Task Force on Pension Legislation.

» Pamela Q. Musgrove | Vice President of Investments

As VP, Investments, Ms. Musgrove is responsible for overseeing the day to day management of the company’s local and international investment management accounts.

Ms. Musgrove joined CFAL in July 1999, and has garnered over fourteen years of experience in securities administration and trading, portfolio accounting, securities fundamental research and portfolio management. In addition to attending a number of investment seminars around the U.S., Ms. Musgrove has also completed a one-week executive investment management workshop at Harvard Business School. Ms. Musgrove earned her BA with Honors, in Finance from Acadia University, Nova Scotia, Canada in June 1996. She is also a Chartered Financial Analysts (CFA) charterholder. Her professional affiliations include memberships in the Bahamas Society of Financial Analysts and the International Society of Financial Analysts. 

» Sophia P. Thurston | Vice President, Pension Administration/Operations

Sophia joined CFAL in 2008 as Vice President, Pension Administration/Operations, bringing with her 17 years of financial services experience. Currently, Sophia is responsible for day to day operations for back office and pension administration. Sophia earned her MBA at University of Phoenix, Arizona and her BBA at Acadia University, Nova Scotia, Canada.
Sophia is a member of the Bahamas Institute of Chartered Accountants and the Massachusetts Society of Certified Public Accountants. Sophia previously worked as an Operations Manager at a major private bank and has experience in Funds Transfer, Securities/Custody and Documentation. She has also held oversight of Fund Accounting, Investor Relations, Financial Services and Corporate Services. Sophia is a former Audit senior in the Nassau office of a Big Four global accounting firm.


Our mission is to be the preferred trusted financial services company in The Bahamas by providing superior value to our customers and shareholders. In doing so, we create meaningful and rewarding opportunities for employees, while positively contributing to the growth and development of the Bahamian community.

CFAL, Third Floor, 308 East Bay Street, P.O.Box: CB 12407, Nassau, New Providence, The Bahamas. Tel: 242-502-7010