Accountant Raymond Jones has been named director of the new Government department of economic development.

Mr. Jones, a certified public accountant, will take up the post on December 4 after spending seven years at the Bermuda Economic Development Corporation as the finance director.

The new department is made up of the business development unit, the fintech business unit and ICT policy and innovation and has nine staff. It was formed following an internal review and was recently approved by Cabinet.

A press statement said the creation of the department had not resulted in any additional posts being added to Government.

David Burt, the Premier, said: “Mr. Jones will be responsible for leading the department charged with the awesome responsibility of driving Bermuda’s economic growth and diversification. I am confident the excellent team of public officers who have been assigned to the department will be able to support the Government as we work to rebuild Bermuda’s economy following the devastating impact of the coronavirus pandemic.”

Head of the public service, Derrick Binns said Mr Jones “possesses extensive experience dealing with investment advisers, brokers, shareholders, attorneys and overseas manufacturers which will serve him well as he leads and develops the Department of Economic Development”.

Prior to joining the BEDC, Mr Jones was CFO at the HWP Group of Companies for seven years and previously held a number of posts at Bank of Bermuda, which is now HSBC.

He is also a well known football coach for Devonshire Colts and has coached for Bermuda national football teams.