The Co-Chairman of the PACIFIC DEVELOPMENT FOUNDATION, Thomas M. BAYER, is a philanthropist retired businessman, and founder of the BAYER GROUP since 1974.
The Group was originally centered on financial interests located in Vanuatu commencing with Pacific International Trust Company Limited « PITCO » which at that time was owned by the Bank of America, Sumitomo Bank of Japan, Westpac Bank from Australia, Montreal Trust, Perpetual Trustees, Schroder Australia and Macquarie Bank of Australia. PITCO had recruited Mr BAYER from Singapore as its CEO. Today the Group CEO is Mr Robert M. BOHN who is also the Co-Chairman of PACIFIC DEVELOPMENT FOUNDATION.
By 1984 the Bayer interests were able to purchase all the shares in PITCO from its then existing bank shareholders.In 1986 the Bayer Group purchased European Bank limited, a Vanuatu incorporated Bank.European Bank limited has recently been sold to a Hong Kong based financial group.
The Bayer Group of Companies includes 40 companies in 8 countries.
On April 11, 2017 H.E Mr Bernard LECLERC, Ambassador Extraordinary and Plenipotentiary, was elected and appointed Executive Vice President of The PACIFIC DEVELOPMENT FOUNDATION with full powers.