BMA appoints financial services director
The Bermuda Monetary Authority has appointed Ashley Kibblewhite as director of its banking, trust, corporate services and investments department.
The BMA said that it undertook an extensive search in February via a selection committee led by chief executive officer Craig Swan and which included the former director of BTCSI, the late Marcia Woolridge-Allwood.
Mr Swan said: “The candidate group that emerged in the BMA’s search for its next director of BTCSI was of the highest calibre. The applicants included individuals with diverse backgrounds as senior regulators and leading executives in the financial services sector.
“The search committee sought an experienced, skilled, capable leader with thorough knowledge of relevant international regulatory standards, financial analysis techniques, risk management and corporate governance issues.
“Mr Kibblewhite exceeded these criteria, as well as demonstrating a personal and professional alignment with the authority’s organisational culture objectives, and we are pleased to welcome him to the BMA.”
The regulator said that Mr Kibblewhite has more than 35 years’ experience in financial services, including ten years in prudential regulation.
Most recently, he served as the Bank of England/Prudential Regulation Authority’s head of risk analytics, liquidity and capital (supervisory risk specialist directorate), where he led the division responsible for capital, liquidity, asset and liability management, risk data, analytics and modelling, with particular regard to concurrent stress testing of the United Kingdom’s banking system.
Before this, Mr Kibblewhite served as manager of the structured finance team at the UK’s Financial Services Authority and in various senior roles within the asset-backed securities/mortgage-backed securities division at Merrill Lynch.
Mr Kibblewhite will oversee the daily supervisory functions of the BMA, directing the team responsible for the supervision and regulation of licensed institutions under the Banks and Deposit Companies Act 1999, Investment Business Act 2003, Investment Funds Act 2006, Trust (Regulation of Trust Business) Act 2001, Money Services Business Act 2016 and the Corporate Service Provider Business Act 2012.
Additionally, the BMA said, he will be responsible for contributing to the oversight, development and implementation of the organisation’s strategies and policies, specifically on supervising all BTCSI-licensed entities.