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Fintech adviser steps down from government role

Denis Pitcher, the Government’s fintech adviser, has stepped down from his volunteer role.

A “pivotal” adviser to the Government on financial technology has stepped down from his role.

Denis Pitcher, who has served as an unpaid consultant for the Economic Development Department, was key in setting up the fintech unit and promoting the new business technology in Bermuda.

According to a post he made on social media, Mr Pitcher left the position more than a month ago.

He ascribed the move to business commitments.

David Burt thanked Mr Pitcher for his service as he opted to “step away from his volunteer role with the Government”.

Formerly an independent commentator on the emerging industry, Mr Pitcher joined the unit in 2019, coming from a career in software as a founder of the firm resQwest.com.

The Premier said: “Mr Pitcher provided great assistance and knowledge to the Government in helping to advance Bermuda’s fintech ambitions and facilitated the uptick of the international fintech community in the Bermuda market.

“As he moves on, we have full confidence in the public officers within the Economic Development Department who have been working with Mr Pitcher and will continue the great work that is under way already as Bermuda continues to grow as a leader in the digital assets space.”

Mr Pitcher said: “I would like to thank the Premier and the Government for inviting me to volunteer to help grow and develop the fintech industry in Bermuda.

“Fintech has reached a place where Bermuda has developed a reputation as having a disciplined and consistent approach which is proving very attractive to reputable players at this stage in the industry’s development.”

He added: “I am proud of the strong pipeline of companies that are on track to get licensed and hope it represents a tipping point for continued sustained growth of the industry.

“Unfortunately, my family business has been consuming a great deal of my time of late which has left me without capacity to continue contributing to fintech.

“I would like to thank all the colleagues in Government that I worked with on fintech and wish them all the best in continuing to grow the industry.”

A spokeswoman said the Government remained committed to advancing Bermuda’s fintech agenda — and was “confident in the continued progress and success of its Economic Development Department”.