The Financial Services Institute at the H. Lavity Stoutt Community College (HLSCC) will be renamed the HLSCC Robert Mathavious Institute of Financial Services in honour of financial services stalwart, Dr. Robert Mathavious, OBE.
Dr. Mathavious, who served the British Virgin Islands for nearly 40 years across the finance and volunteer sectors, is widely acknowledged as the chief architect behind BVI’s financial services sector – a sector which now contributes more than 60% to the Territory’s GDP. He was a key advocate for the establishment of the Financial Service Commission – for which he served as Managing Director from its inception until his retirement in 2020.
President of the H. Lavity Stoutt Community College, Dr. Richard Georges explained that the Financial Services Institute at HLSCC, which was created in 2002, was in large part due to Dr. Mathavious’ vision and passion for the education and elevation of BVIslanders.
Dr. Georges said, “In 2020, after 18 years of service as the chair of the Financial Services Institute’s Administrative Committee, it is a fitting gesture on behalf of the HLSCC Board of Governors, to rename the Financial Services Institute at HLSCC in Dr. Mathavious’ honour. We hope that this effort to monumentalise him demonstrates the deep and abiding appreciation that the College has for all that he’s done.”
In addition to the renaming of the Institute, Dr. Georges also announced that the College has officially designated an area on its main campus in Paraquita Bay for the construction of its renamed institute.
The Financial Services Institute at HLSCC has served as a facilitator for the development of intellectual capital within British Virgin Islands Financial services Industry and an enabler to ensure that employees within the sector have support in attaining international recognised benchmark qualifications. Offering professional programmes since 2002, the Financial Services Institute is a centre of excellence in education and training in the financial services industry.
Over the years, the Institute has conducted courses in individual subjects examined by professional organisations such as the International Compliance Association, the Association of Chartered Certified Accountants, CGI: the Governance Institute, and the Society of Trust and Estate Practitioners. Students attending the institute come from a variety of backgrounds and a variety of age groups. Although the majority of students are already employed within the financial services industry, others who have ambitions to break into the industry come directly from an Associate Degree course at HLSCC, the public service, or other private service sectors.
The Financial Services Institute at HLSCC was launched on October 9, 2002 at the second HLSCC Caribbean Practical Due Diligence Symposium. The first Co[1]Directors were Samuel Lohman, a Geneva-based lawyer, and Dr. Michael O’Neal, the Vice President of HLSCC.