The Guernsey Financial Services Commission (GFSC) announces a restructure of its senior directorate, effective from January 2026, which sees Martin McHugh promoted to Director of Banking and Insurance Supervision. McHugh, a Scottish Chartered Accountant, brings considerable prudential supervision experience, including a tenure at the Bermuda Monetary Authority. He has also co-led several innovative policy developments in previous GFSC roles. The changes also see Dr Jeremy Quick move from Director of Banking and Insurance to a new part-time role as Director of Resolution. This change follows the passage of the Bank Resolution (Bailiwick of Guernsey) Law, 2025. Quick works to ensure the proper and economical implementation of this legislation over the next three years, ensuring the Bailiwick complies with international standards for banking regulation. He also continues to represent the Bailiwick and twenty other small island jurisdictions on the Executive Committee of the International Association of Insurance Supervisors through 2026. Director General William Mason thanks Quick for his service, noting: “The Bailiwick has him to thank for a significant number of crises avoided and evaded.” In other director-level appointments, Nick Herquin becomes Director of Investment, Fiduciary and Pension Supervision; Dr Conor Osborough is promoted to Director of Technology, a move that signifies the Commission’s increasing focus on technological excellence internally and in the industry; and Alice Joy, previously Commission Secretary, is now Director of External Affairs, a title that better reflects her role in the leadership team. Deputy Director General Gillian Browning (Policy and Supervision) leads the Commission’s policy development programme, which includes new policies co-developed with industry under the Digital Finance Initiative. The initiative works to ensure the Bailiwick is prepared to meet the challenges of the new AI and blockchain-enabled era. The restructuring reflects the GFSC's forward-looking approach to regulation, innovation, and international standards.
