Penn appointed as BVIFSC’s Deputy Managing Director of Operations
Former Permanent Secretary in the Premier’s Office, Brodrick Penn, has been appointed as the new Deputy Managing Director of Operations at the BVI Financial Services Commission (BVIFSC).
In this new role, Penn will have oversight for Registry of Corporate Affairs, Information Technology, Creative Services, Facilities, Operations and the Business Services divisions of the BVIFSC.
A media release from the Commission said Penn has more than 25 years of experience in the financial services industry, having worked with the organisation since its inception.
The BVIFSC said Penn has played several critical roles, including contributing to the development of the BVI’s mutual funds regime and assisting in leading the charge toward the development and implementation of the securities and investment business regime.
Managing Director/CEO of the Commission, Kenneth Baker welcomed to Penn in his new capacity.
“He brings a solid understanding of the ethos, function, and workings of the Commission. The rest of my executive management team and I look forward to working with him as he leads the Commission’s development of a slew of innovative tools for better business intelligence, operations, and improved data management,” Baker said.
Meanwhile, Penn, who holds a Bachelor of Science in Finance and a Master of Laws (LLM) in AML, Compliance and Tax Planning, said he was honoured to have been appointed at a time when the Commission was activating transitory plans to significantly enhance its non-regulatory business functions.
The Commission is at an important stage of its ongoing development, and I am pleased to be given the opportunity to lead its operational strategy, innovation, business intelligence and data management functions. The success of the Commission is critically dependent on maintaining robust and efficient operations; therefore, I look forward to helping further develop and streamline our operations and business model such that all our clients and stakeholders are served at the highest possible standard,” Penn stated.
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In 1995 the BVI Financial Services had 55 Billion dollars in mutual funds registered, I doubt he was even out of college yet, and that is more than 25 years ago. You all just recycling the same players and trying to make them look like they are effective.
Despite the long words, what does he actually do?
Was this position advertised?
That’s how he works
the DEVELOPMENT of the mutual funds regime not its implementation. yes mutual funds existed before his time but he came and assisted in making it what it is today. in any case sometimes it makes sense to move people up and allow for a chain of succession rather than always bringing in people externally no?
An evil waste of time.
Talk what you know. Mutual Funds Act was passed in 2016. Implemented in 2017. Brodie was there from the beginning in 2017 as the first Asst. Registrar along with the Registrar implementing the Act. Why you hating?
Maybe you should read the article.
east end posie running things in BVI
I guess he has been forgiven for his conduct. After all being caught on camera in fsc with a staff is nothing new in any office.
What education does he have to qualify him for this position?
FSC service standards are not being met with industry advising allow 6 months for FSC submissions! The attitude of ‘Enforcer’ rather than Regulator diminishes the public/private sector partnership that drove business.
Congrats Brodrick and best wishes in your new role!
I don’t care for the dude. He believe he smarter that everyone else and takes advice from no one. He believes he knows it all.
Another entitled family member getting a job that he is not qualified for or that was advertised.
Congratulations Mr Penn
Tola take care of its own and prop them up nothing wrong with that.