The Bermuda Monetary Authority (BMA) has appointed Donald Scott as chairman of the board from his previous position of deputy chairman, effective 1 October.
In addition, on the same date deputy CEO Craig Swan will transition into the role of CEO.
This corresponds with the departure of CEO and executive chairman Jeremy Cox, who has held the roles since 2010 and 2019 respectively.
Commenting on Cox’s departure from the authority, Scott says: “Over the past decade, Jeremy Cox has led the BMA to many notable achievements including full equivalence with the Solvency II regulatory regime, the National Association of Insurance Commissioners reciprocal and qualifying jurisdiction status, and the continued widening of the BMA’s remit into digital assets.”
Cox adds: “It has been an absolute pleasure working for the BMA for the past few decades. I am grateful to the BMA staff who, through their dedicated efforts and commitment through the years, have been instrumental in positioning Bermuda as a leading international financial centre.”
“I feel confident that, under Donald Scott’s leadership of the board as its new chairman, and Craig Swan’s leadership as CEO, the BMA will continue to rise in driving forward the attainment of its strategic objectives for the benefit of Bermuda.”
