Kenneth Baker promoted to Managing Director/CEO of BVIFSC

The BVI Financial Services Commission (BVIFSC) has named Kenneth Baker as their new Managing Director and Chief Executive Officer (MD/CEO) effective February 1, 2021.

This appointment follows the retirement of the BVIFSC’s first MD/CEO Dr.Robert Mathavious, who retired on December 31, 2020, after serving 18 years in the position.

Speaking on his appointment, Baker who is the former Deputy Managing Director, said he was delighted to be appointed as the head of the Commission.

“Together with the talented senior management team, who were all groomed under the tutelage of Dr Mathavious OBE, we now transition the Commission to a risk-based operating model for greater effectiveness in supervision and will proactively address emerging challenges and strengthen the product offering,” Baker said.

Baker the perfect fit for the role

Chairman of the BVIFSC’s Board of the Commissioners, Robin Gaul said he believes Baker is the perfect fit for the job with more than 37 years of experience in the financial services sector coupled with his education background.

Gaul said: “He has the necessary administrative skills and knowledge of the territory’s relevant legislation, with exposure to the various facets of regulation and enforcement procedures, and has proven to be a team player.”

“With the ability to interact both with the public and private communities he has garnered the respect of both senior and junior management, staff members, as well as stakeholders in the Industry. I extend heartiest congratulations to Mr Baker and wish him every success in his new and expanded role within the Commission,” he added.

  

Key responsibilities

According to the BVIFSC, Baker new responsibilities will include overseeing all aspects of the daily operations of the Commission, including the regulation of the BVI’s financial services industry; the development of new services; and strengthening product offerings aimed at developing.

He will also be tasked with enhancing the attractiveness of the BVI as a premiere international finance centre, and liaising with government and private sector stakeholders in pursuance of this objective.