Antigua and Barbudas Ministry of Finance, the Economy and Public Administration has appointed John Benjamin as interim administrator and chief executive officer at the Financial Services Regulatory Commission (FSRC). His position is effective from August 24, 2009, for a period not exceeding six months, whilst the government conducts an international search for a permanent chief executive to fill the position as of January 2010.
The appointment of an experienced individual to head the FSRC is indicative of our jurisdictions commitment to strict standards for financial regulatory compliance and furthers our position as a quality jurisdiction in which to conduct business, says Verlyn Faustin, head of the International Financial Services Providers Association of Antigua and Barbuda (IFSPAA). We are dedicated to appointing a chief executive officer who can meet the regulatory, developmental, and reputational challenges of a modern financial services centre. We are pleased that a high-level meeting took place this week that included members of both the private and public sector. IFSPAA is pleased that regulators are committed to doing everything possible to insure compliance and step up enforcement efforts in todays environment.
Benjamin brings to the FSRC over 40 years of professional experience in banking and finance, having started his initial career with Barclays Bank Plc where he served for over nine years. He later worked at the Antigua Commercial Bank as an accountant, general manager and group general manager for over 27 years and, more recently, held the position of managing director at TCI Bank Limited, the first indigenous bank of the Turks and Caicos Islands. An affiliate of the British Chartered Institute of Bankers, he has also qualified as a Trust and Estate Practitioner (TEP) with the Society for Trust and Estate Practitioners (STEP).
D.C.