Premier envisions increased role for Lorna Smith

Premier Dr Natalio Wheatley has signalled an increased role for former Deputy Premier Lorna Smith within his government, particularly in the financial services sector.

During a recent press conference, Dr Wheatley confirmed his intention to work more closely with Smith, despite her removal from ministerial duties late last year.

Smith recently accompanied the Premier and his delegation during a week-long Asia-Pacific outreach to promote the territory’s financial services sector. “As you can see, I took her to Asia, and I’m going to be working much more closely with her as it pertains to financial services moving forward,” Premier Wheatley said. adding that Smith is quite experienced in the industry.

Smith, who briefly served as Deputy Premier and Minister for Financial Services, Labour, and Trade, was abruptly dismissed in October 2024. Dr Wheatley later explained the decision, stating that Smith did not provide him confidence that she would remain with his administration.

However, he continued to express a willingness to leverage her expertise. “If there’s any way for her to play more of a role in financial services, I’m certainly open to that,” Wheatley asserted.

The Premier’s remarks come as the BVI continues efforts to strengthen its financial services industry amid global scrutiny. Dr Wheatley emphasised the territory’s commitment to maintaining regulatory standards and resisting external pressures, particularly from the United Kingdom.

“I oppose the continuous calls by some members of the UK Parliament for public registers of beneficial ownership to be imposed on the Virgin Islands via an Order in Council,” Wheatley said. “At the local level, we are more than capable of managing the growth and regulation of our financial services industry and should not be threatened for exercising our autonomy.”

Smith’s contributions to the sector have been long recognised. She played a key role in establishing the BVI Hong Kong Office, the BVI London Office and advancing BVI Finance. Wheatley acknowledged her track record, stating, “She was recently minister, and of course, she did a very good job, and I thought that she made a very solid contribution while she was minister.”

The latest development follows months of speculation within the government, following Smith’s controversial dismissal and the appointment of veteran legislator Julian Fraser as Deputy Premier.