18 January 2019Analysis

BMA chairman retires; CEO takes on role

The Bermuda Monetary Authority CEO Jeremy Cox will serve as its executive chair, as current chair Gerald Simons has retired.

Simons has been on the BMA board for nine years, including six as chair. Cox will executive chair for the next three years.

“Serving on the board of the BMA has been an honour and a privilege. It gave me a unique perspective of financial services. I have been impressed by the dedication of the Board and the expertise and commitment of staff of the Authority at all levels,” said Simons.

Other departures from the BMA board include deputy chairs Allan Marshall and Peter Hardy, who served for six and three years, respectively.

Concurrently, the BMA has appointed Donald Scott, former secretary to the cabinet and head of civil service, and financial secretary, to the board as deputy chair.

In December 2018, James Newsome, former chairman of the US Commodity Futures Trading Commission and CEO of the New York Mercantile Exchange, and Francine Mason, a certified public accountant with two decades experience in Bermuda's trust sector, joined the BMA board.