Ian Davis, director of financial services representing Vermont’s captive industry, is stepping down from his role, for a new position in the private sector, effective 1 May.
Davis, who has spent the last five years at the Vermont Agency of Commerce and Community Development, has played an active role in growing the state’s global captive presence, particularly in new and emerging markets.
Additionally, he has helped organise Vermont’s first captive insurance trade mission to Mexico City and was a frequent presenter at national and international conferences and events, including the Vermont Captive Insurance Association (VCIA) annual conference and European Captive Forum.
Tim Tierney, director of business recruitment and international trade at the Vermont Department of Economic Development, will be the interim-director of financial services while the state searches for a permanent replacement.
Rich Smith, president of the VCIA, said: “Ian Davis epitomises all the qualities that keep Vermont in the vanguard of the captive insurance industry. He has served the State of Vermont and the captive industry with high energy, intelligence and integrity. Although I am saddened to see him leave this critical position, I am thrilled to hear Davis will continue to work in our amazing industry in the next step of his career.”
Commenting on his departure, Davis said: “I am extremely grateful for having had the opportunity to serve the State of Vermont and represent Vermont’s leading captive insurance industry.”
“I feel immensely proud of all that has been accomplished together during my tenure and leave knowing that Vermont’s captive industry is in a very strong position for continued success,” he added.