Financial regulatory body the Bermuda Monetary Authority (BMA) has announced the promotion of five members of staff for its management team (see picture on page 40).

They are:

Shelby Weldon

Mr. Weldon, a Bermudian, has been promoted to the position of director, insurance compliance. He has been with the BMA since 2002, when the responsibility for day-to-day regulation and supervision of the insurance industry was transferred from the Registrar of Companies (ROC) to the BMA. Mr Weldon was the inspector of companies at the ROC and was appointed as an assistant director in the Insurance Team at the BMA. He was promoted to deputy director in 2005. Mr. Weldon graduated from Howard University in 1986 with a Bachelors of Business Administration and qualified as a Certified Public Accountant (CPA) in 1988. He has over 20 years experience in the insurance industry, initially working as an auditor at Arthur Andersen and subsequently spending five years in the captive management sector before joining the ROC as an insurance regulator.

Marcelo Ramella

Dr. Ramella has been promoted to the position of assistant director, research. He has a PhD in Social Psychology and an MSc in Organisational and Social Psychology from the London School of Economics (LSE). He also has a Masters in Business Administration and qualified as a CPA in 1988 after successfully completing a BA in Accounting and Finance. He is currently also a Visiting Fellow of the LSE. Dr. Ramella has 12 years of experience in strategic research development in a variety of organisations, including the Home Office in the UK Government.

Craig Swa>

Mr. Swan has been promoted to the position of assistant director, insurance compliance. Mr. Swan is Bermudian, and before joining the Authority he was the controller and vice-president, strategic information services at Arthur J. Gallagher & Co. (Bermuda) Ltd., where he spent six years. He is a member of the Certified General Accountants Association of Canada, has an MBA from Edinburgh Business School and is a Fellow of The Institute of Chartered Secretaries and Administrators in Canada.

Suzanne Willia$>

Miss Williams has been promoted to assistant director, insurance compliance. Prior to joining the BMA as a principal in 2005, Miss Williams, who is Bermudian, was a manager in the Audit Department of KPMG, Bermuda where she spent eight years. Miss Williams earned a BA in Accounting, from Clark Atlanta University and qualified as a CPA in 1999. In addition, Miss Williams earned her Associate in Reinsurance designation in 2006.

Dianne Burg<$>

Mrs. Burgess has been promoted to the position of senior officer, insurance. Her professional experience in insurance over the last 11 years has covered technical positions in underwriting support, credit analytics, financial analysis and, within the Authority, the supervision of regulated re/insurance entities. Mrs. Burgess, who is also Bermudian, holds a Masters of Business Administration with a major in Risk Management from the College of Insurance and a BA in Psychology from St. Mary’s University, Canada.

In recognising these promotions, Mrs. Cheryl-Ann Lister, Chief Executive Officer of the BMA said, “These individuals have demonstrated that they should be recognised in this way through their hard work and impressive contributions to the Authority. We look forward to working with each of them in their new capacities and sincerely congratulate them on this significant achievement.”