BMA Board Transitions To New Leadership
The Bermuda Monetary Authority today [Mar 4] announced the appointment of Gerald Simons as Chairman of the Authority’s Board of Directors and Anthony Joaquin as Deputy Chairman of the Board.
A spokesperson said, “The Bermuda Monetary Authority welcomes the Hon. Gerald Simons, former CEO of Argus Insurance, as Chairman of the Authority’s Board of Directors. The Authority also congratulates Mr. Anthony Joaquin on his appointment as Deputy Chairman of the Board.
“Mr. Simons takes over the chairmanship from Mr. Alan Cossar, who stepped down at the end of last year after completing his term of service. Mr. Joaquin replaces Mr. Darren Johnston, who has also stepped down after serving one of the longest periods of tenure on the BMA Board.
Jeremy Cox, CEO of the Authority and Executive member of the Board, acknowledged the contributions of the retiring Board members: “We wish to sincerely thank Alan and Darren for their invaluable input and expertise.
“Alan has been Chairman during one of the most challenging periods in the BMA’s history, and Darren has completed one of the longest periods of tenure on the BMA Board, a total of 17 years. I think I speak for all staff at the Authority in acknowledging their unwavering support and selfless service. They have both contributed significantly to the organisation.”
Both Mr. Simons and Mr. Joaquin will build on their previous years of service as Board members in their new roles. “As we transition to new Board leadership, we are delighted that Gerald and Tony have agreed to take on the Chairmanship and Deputy Chairmanship respectively.
“We are very much looking forward to their continued valuable contributions, along with the Directors who will also continue their terms of service and the two new Board appointees,” said Mr. Cox.
The spokesperson said, “The two new appointees are veteran insurance professional Fiona Luck and entrepreneur Alan Marshall, who each bring extensive business experience that complements the strength of the Board.
“With these changes the BMA Board is composed of the following members: The Hon. Gerald Simons (Chairman), Anthony Joaquin (Deputy Chairman), Walter Bell, Fiona Luck, Alan Marshall, Lynda Milligan-Whyte, Barclay Simmons, Ronald Simmons, Tracey Tepper and Jeremy Cox.”
Is this the same Gerald Simons from the Argus board? Who makes these decisions?
Yup, SERCO, Keytech, argus and now BMA, who makes these decisions…friends and family!
And the same one that was on the BNTB board overseeing all those great investments and shared loans with Argus.
Maybe at the BMA he’ll get to invest in some high yield Greek, Italian and Spanish bonds.
Oh forgot about that one, it’ll be interesting to see the additional business Argus and the other businesses he has an interest in benefit from this appointment, and they surely will!
Great. Simons’ appalling bad financial decision making can be unleashed on the BMA Chair!
dear OBA and Governor
please look into this recent appointment and reverse it if possible Bermuda needs a Brian Dupperault or Bob Kramer on the BMA Board not a former UBP poster child with a poor record as a director of major local businesses, how could Keytech low Digicel to enter and decimate its market share.
I must object to Gerlad Simons in the strongest of terms, please look at someone
OBA please try to exert some influence here even though the BMA is supposed to be independent
We also note the BMA recently hired failed PLP mp Patrice Minors to be a regulator for the Islands Banks, Credit Unions and Investment Licensees.
Weren’t things supposed to improve after 17 Deember 2012?
OBA voter
You critics are funny. None of you probably have the expertise nor experience he has but you feel comfortable maligning him. Mr Simins grew Argus to a successful Bermuda company and it is still here thanks to his leadership. Financial setbacks happen in business, that’s a fact. Brian O’Hara suffered it as a CEO and so has Warren Buffet.
We’re a funny people here in Bermuda. According to you all, no Bermudian would be good enough because you can’t point to things that you think you know.
Congratulations Mr. Simons and thanks for taking this on.
This guy should be asked to make a full disclose of his shared and business affiliations, that would be the only way to avoid the speculation of favoured relationships and any question of him giving favour to these companies
Now is the time to give Jeremy Cox a handshake and pink slip. The brother of the last premier, Paula Cox, should never have been given this particular job – clear indesputable nepotism.
This very sensitive position that protects Bermuda’s financial reputation worldwide and it needs to be championed (CEO and executive board member)by some-one whose qualifications, experience, background – not in political nepotism but a reputation build on social and professional hard work – demonstrates a fair playing field that Bermudian executives are given opportunities NOT because their some politician’s brother but because they are the best that Bermuda has to offer.