JFSC appoints director-general

Pedro Gonçalves
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JFSC appoints director-general

The Jersey Financial Services Commission (JFSC) has named Martin Moloney as its new director general.

Martin Moloney, who is currently a special adviser on risk and regulation for the Central Bank of Ireland, is due to start the new role at the Jersey Financial Services Commission on 28 February next year. He replaces outgoing director-general John Harris.

Prior to joining the CBI, Martin worked for brief periods in the Department of Justice and the Irish Competition Authority, and spent 10 years in the Irish Department of Finance in positions of responsibility relating to national and semi-state debt management and the sale of state banks. 

He spent his early career working for Barclays Bank and the Bank of Ireland in London.

A statement released by the board of commissioners said: "[He has] a detailed understanding of the fundamental issues we face as the regulator of an offshore finance centre in a small jurisdiction, particularly at this challenging time for financial services globally.

"It is therefore extremely relevant that Martin has a proven track record of working constructively with the financial services industry in Ireland, predominantly within the funds sector."

Moloney, who will also join the JFSC's board of commissioners, said he saw the appointment as "an honour and a challenge".

"I look forward to working with everyone at the JFSC to uphold the island's strong regulatory reputation, while achieving an ever more enhanced, public service-based, technologically ambitious and team-focused approach to financial regulation," he said.

JFSC Chairman Lord Eatwell commented: "We welcome Martin to the JFSC. He has a sophisticated regulatory background, a wealth of international connections, and a detailed understanding of the fundamental issues we face as the regulator of an offshore finance centre in a small jurisdiction, particularly at this challenging time for financial services globally."

Moloney's appointment was approved by Chief Minister John Le Fondre following a recruitment process which was overseen by the Jersey Appointments Commission.