Jersey Financial Services Commission: Chairman of the Commission

The Jersey Financial Services Commission announces that Clive Jones, the current Chairman of the Commission, has taken the decision not to seek re-appointment on the recent expiry of his present term on 22 October 2013. Clive Jones was first appointed a Commissioner on 23 October 2007 and was subsequently appointed Chairman on 18 September 2009.

John Averty, Deputy Chairman of the Commission, stated that Clive was appointed Chairman at a time of change for the Commission and he had proved to be a dedicated and effective leader, well respected by his Board colleagues and the staff of the Commission who regret that he has decided not to continue in the role.

Senator Ian Gorst, Chief Minister, added "I am most appreciative of the contribution Clive made to the work of the Commission through a time of global financial crisis that has presented regulators with many issues. I look forward to working closely with his successor and I have every confidence that working together, in concert with the finance industry, the Commission and Government will be successful in responding to the many new and significant challenges to be faced."

Notes

The process to select a new Chairman for the Commission is underway and, following the selection of search consultants, advertisements will be placed in both the local and the UK press. The recruitment process will follow procedures agreed with, and overseen by, the Jersey Appointments Commission.

Following that recruitment process, the States of Jersey has the power to appoint Commissioners and a Commissioner to be Chairman from persons nominated by the Chief Minister.

Commissioner John Averty, current Deputy Chairman, will preside at meetings of the Commission pending the selection of a new Chairman (as stipulated by paragraph 3(b) of Schedule 1 to the Financial Services Commission (Jersey) Law 1998)