Managing Director and CEO, Dr. Robert A. Mathavious, has made the decision to hang up his hat and retire from the BVI Financial Services Commission, effective December 31, 2020.
This was confirmed in a statement issued by the Chairman of the The Commission’s Board of Commissioners, Mr. Robin Gaul.
Dr. Mathavious was the first and only Managing Director and CEO since the creation of the statutory body which took place in 2001, following the enactment of the Financial Services Act.
As Managing Director/Chief Executive Officer of the Commission, Dr. Mathavious has responsibility for establishing and maintaining a regulatory regime that is fully compliant with universally agreed international standards.
He is also responsible for the administration and operation of the Commission, the regulation of the BVI’s financial services industry and liaising with Government and private sector stakeholders in pursuit of these objectives.
In the statement, Dr. Mathavious was noted as one of the architects of the BVI’s success as a financial services centre.
It said “He truly was a visionary for the financial industry in the Virgin Islands. He envisioned more income generating opportunities for the Virgin Islands and channeled his education, knowledge and experience in setting the foundation for the development of the financial industry in the Virgin Islands.”
It continued by saying “His vision, innovation, creativity, pioneer’s spirit, and love for his native Virgin Islands and its people catapulted the BVI as an international reputation for excellent regulation, which is universally regarded as a leading financial centre.”
Dr. Mathavious has played a pivotal role in charting the course of the development of the BVI financial services industry for over 35 years. Dr. Mathavious has had an illustrious 25-year career as a civil servant, during which he served as Deputy Financial Secretary (1980-1985), Financial Secretary (1985-1991) and Director of Financial Services (1993-2001). In January 2002, he assumed the post of Managing Director/Chief Executive Officer of the Commission, a position he holds to date.
Dr. Mathavious has been the principal financial services negotiator for the BVI, developing in the process widespread applauded for dealing with the international initiatives. He is also a lead voice of the region on these matters.
The Commission acknowledges Dr. Mathavious’ dedicated service to the Commission for almost 20 years and for his continued unselfish service to his beloved British Virgin Islands Community.
The Commission has commenced the search for his replacement upon retirement; interested persons are invited to visit The Commission’s website at www.bvifsc.vg.