Managing Director and CEO of the BVI Financial Services Commission (FSC) Dr Robert Mathavious will be stepping down from the post at the end of the year.
Chairman of the FSC’s board of commissioners, Robin Gaul gave that confirmation in a statement to BVI News on Wednesday, June 10.
He said: “Dr Robert A Mathavious, the Commission’s Managing Director and Chief Executive Officer, has informed the board that he has made the decision to retire from the Commission, effective December 31, 2020.”
“The Commission acknowledges Dr Mathavious’ dedicated service to the Commission for almost 20 years and for his continued unselfish service to his beloved British Virgin Islands Community,” Gaul added.
The FSC, in the meantime, has already begun the scouting process for Dr Mathavious’ successor. The deadline for interested and qualified persons to submit their applications is June 19.
As Managing Director and CEO, Dr Mathavious has responsibility for establishing and maintaining a regulatory regime that is fully compliant with universally-agreed international standards.
He is also responsible for the administration and operation of the Commission, the regulation of the BVI’s financial services industry and liaising with government and private sector stakeholders in pursuit of these objectives.
In that vein, Dr Mathavious also holds membership on several boards within the financial services industry including the Financial Investigation Agency, the FATCA Negotiating Team for the Virgin Islands and the Tax Information Exchange Agreement Negotiation Team for the government of the Virgin Islands.
First and only MD/CEO of the FSC
Dr Mathavious has headed the FSC since his appointment in 2002, being the Commission’s first and only Managing Director and CEO since the creation of the statutory body in 2001, following the enactment of the Financial Services Act.
Known to the territory as one of the pioneers in the financial services industry with more than 35 years of service, Dr Mathavious has served in major roles such as the Deputy Financial Secretary (1980-1985), Financial Secretary (1985-1991) and Director of Financial Services (1993-2001).
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