01 October 2012
A new Director of Financial Services has been appointed for Jersey. Joe Moynihan, who is currently Chief Executive Officer of AIB Jersey, will report to the Economic Development Minister and provide advice to Ministers on all aspects of financial services policy.
One of Mr Moynihan’s main tasks will be to develop a new financial services strategy for the Island. Working with Jersey’s financial marketing and regulatory bodies, he will be responsible for helping to ensure that the financial services sector remains globally competitive, builds on its strengths, develops new products in new markets and maintains the high international standards for which Jersey is renowned.
Key activities for the Director –
- to lead the process of developing and implementing a strategic plan for the development of the Island’s financial services industry to the end of the decade and beyond
- to play a key role in responding to international initiatives and challenges and work with other stakeholders to enhance Jersey’s reputation as a quality international finance centre
- to lead on communicating government policy on international matters which bear on the financial services industry
- to provide advice to Ministers on legislative proposals
- to lead and manage the government financial services team
Important role
The Economic Development Minister, Senator Alan Maclean, said “I welcome the appointment of Joe Moynihan to this very important role for our major industry. He has a wealth of experience in Jersey’s finance industry, and will provide a single point of responsibility within government for this important sector.
“One of his tasks will be to coordinate the process of developing new laws. As global competition continues to intensify, we will need to respond quickly with new products, some of which may require legislation before they can be brought to market.
"A coordinated approach will help us move promptly into new markets, ensuring the continued success of the industry that generates significant employment opportunities for Islanders.”
Expert advice
The Chief Minister, Senator Ian Gorst, said “I join in warmly welcoming this appointment. This will be one of the most influential roles for the Island and we are fortunate to have obtained the services of Joe Moynihan. Not only does he know the Island well, he has also established good relationships with government, industry and the regulator. I look forward to the benefit of his advice and guidance.”
Joe Moynihan said “I am very much looking forward to taking on such a challenging role. Jersey has a proud history and reputation in the international financial services industry, built on a very solid foundation of government support, top quality professional businesses and excellent promotional and regulatory bodies,
“Like all sectors in the island we need to respond to the challenges presented by the ever changing external environment and I hope to play a part in ensuring that we secure the future of our financial services industry.”
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