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The former Financial Secretary to the UK Treasury and the co-founder of an investment consultancy business have been appointed as Commissioners to the board of Jersey's financial regulator.
Mark Hoban and Monique O’Keefe have been sworn into their Jersey Financial Services Commission (JFSC) roles and will officially start on 1 December - their terms will last five years.
Subject to the Board’s approval and recommendation to the Chief Minister, Mr Hoban could hold the role of Chairman from April 2020.
A former Conservative MP, Mr Hoban served as Financial Secretary to the UK Treasury, where he had responsibility for financial services policy. He also led the coalition government’s work on the post-crisis reforms to financial regulation.
Pictured: The pair will serve five-year terms at the JFSC.
He is also the Chair of Flood Re, a regulated specialist reinsurer, and holds a number of other non-executive and advisory roles for organisations, including the London Stock Exchange plc and the International Regulatory Strategy Group.
Ms O'Keefe has 20 years’ experience in finance and law. Prior to moving to Jersey, she specialised in structuring complex financing deals for international investment banks in London and New York, most recently at Goldman Sachs. She has experience working with a variety of organisations spanning government, international investment banks, sovereign wealth funds, major financial institutions and international businesses.
Commenting on the appointments, JFSC Chairman Lord Eatwell said: “Mark and Monique bring a wealth of financial services experience and professional expertise to the Board which complements the skillsets of our existing Commissioners. We look forward to working alongside them to achieve our objectives; delivering a first-class public service to both Industry and Jersey, whilst playing our part in building a financial services environment that is flexible and forward-looking.”
Mr Hoban added: “I am delighted to have been appointed as Commissioner. This is a challenging time for financial services, with changing global regulation and a competitive landscape, and I am keen to play my part in helping Jersey maintain its position as a high quality financial centre.”
Mr O’Keefe said: “I am delighted to be joining the Board to serve as a Commissioner. I am looking forward to working with everyone at the JFSC to contribute to Jersey’s reputation as a leading international financecentre.”
Mr Hoban and Ms O'Keefe will replace Deputy Chairman Debbie Prosser and Michael de le Haye, who will be retiring before the end of the year.
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