Monetary Authority on an 18-month contract as a consultant to its expanding financial services division.

"I've been brought in to continue progress in the Authority's supervisory area along international standards and, secondly, to train Bermudian staff to take over,'' said Mr. Burke.

Mr. Burke took early retirement in July from the Bank of England, where he was assistant manager of the supervision division.

"My background is that I've spent 14 years in supervision in London, both with the banks and the financial services sector,'' he said.

He added: "Financial centres need to have a good reputation and standing if they are to attract first class business.

"Bermuda has got a good reputation and standing and is attracting first class business but you cannot afford to stand still when the world is moving.

"Bermuda has not been standing still and it's my job to ensure that that remains the case.'' The BMA's financial services division has four staff, with the manager's position currently vacant.

The division is responsible for supervising Bermuda's three banks, seven deposit companies, 25 trust companies, 250 collective investment schemes and the Bermuda Stock Exchange.

Mr. Burke is the third person with Bank of England connections now working on the Island. He joins the BMA's general manager Mr. Malcolm Williams, whom he knew before coming to Bermuda, and Mr. Philip Compton, a financial advisor to the Ministry of Finance, which traditionally draws its advisors from Britain's central bank.

FORMER Bank of England official Mr. Tony Burke.