BMA lines up replacement for Cox ahead of 2021 departure
The Bermuda Monetary Authority has named Craig Swan as its deputy chief executive officer, a position it created as it prepares for the departure of its executive chairman, Jeremy Cox, in 2021.
Swan will become CEO when Cox leaves office, the BMA said. In the meantime, Swan oversees the BMA’s supervisory activities of banks, insurance, trust companies, digital assets and investment businesses. He also assists in the regulator’s ongoing planning and development and participates in external initiatives and meetings with government and industry stakeholders.
Swan joined the BMA in 2006 and has represented the BMA on various international regulatory standard-setting committees, and led its insurance regulatory dialogue. He was previously controller and vice president of strategic information services for Arthur J. Gallagher Bermuda.
Donald Scott, deputy chairman of the board of directors and chairman of the board’s human capital committee, said the BMA had considered a strong group of candidates for the role, including people from Bermuda, the US, Canada, the UK, Europe and Australia. Applicants were diverse in terms of gender and ethnicity, and included senior regulators and leading executives in financial services, insurance and banking, he added.