Cheryl-Ann Lister, who recently announced she would be stepping down as chairman and chief executive officer of the Bermuda Monetary Authority, will remain at the post as CEO until the board completes its search for a new CEO, the BMA announced last week.

A statement from the BMA said Mrs. Lister will provide continuity in the position after she officially steps down on January 1 while the BMA finds a replacement. No date for the completion of the search was given.

BMA deputy chairman Robert Steinhoff said: ?We are delighted that Mrs. Lister has agreed to provide continued direction and expertise to the Authority on an interim basis as we go through this process. This arrangement supports the Authority?s ongoing commitment to ensuring we maintain focused, effective service as we regulate Bermuda?s financial services sector.?

The BMA said Minister of Finance Paula Cox will appoint a non-executive Chairman to the BMA Board effective from January 1.