The Bermuda Monetary Authority has confirmed the appointment of Toby Mason as the next chief operating officer (COO), reporting to deputy chief executive officer Shanna Lespere.

Through this role, the BMA said, Mr Mason will oversee the authority’s infrastructure, supporting organisational growth and improving results and efficiency across the organisation.

Additionally, in his responsibility for operational strategic initiatives, Mr Mason will engage at the board level while leading significant capital projects that support the authority’s strategy and corporate objectives.

Mr Mason brings more than 26 years of expertise in the financial services sector to his role, specialising in the banking and credit card market segments, including 15 years in C-suite leadership positions at American Express, ClearBank and Allica Bank.

The BMA said his depth of experience in operations, finance, information technology, accounting processes and business development has spanned multiple financial jurisdictions, including London, New York and Singapore, as well as a global portfolio of operational departments at large multinational organisations.

“As Bermuda’s financial services industry continues to evolve against a backdrop of an increasingly complex global regulatory environment, technological transformation, sustainability and climate risk, and macroeconomic pressures, the BMA must simultaneously evolve — not only our regulatory regime and supervisory approach but also our operational processes, systems and strategy,” said Mrs Lepere.

“Mr Mason’s extensive multi-jurisdictional experience and financial services expertise will support our efforts during this critical juncture. I am pleased to welcome him to the BMA and look forward to the contribution he will make to the authority and, more widely, Bermuda’s financial services sector.”