A director of the Bermuda Monetary Authority (BMA) has quit his post.

E Barclay Simmons stepped down after nearly nine years on the board of the Island’s financial regulator.

Mr Simmons, who is also the manager of ASW Law, resigned from the board due to increased responsibilities at one of the BMA’s licensed companies.

BMA chairman Gerald Simons thanked Mr Simmons for his contribution to the work of the BMA.

He said: “He chaired the board’s investment committee, which is responsible for ensuring the prudent investment of the authority’s portfolio of assets and he was a member of the of board’s corporate governance and ethics committee.”