Jeremy Cox has been promoted to the new post of deputy chief executive officer of the Bermuda Monetary Authority (BMA), in what appears to be a move to groom the Bermudian to take over the top job at the financial regulator.The current BMA CEO, Matthew Elderfield, a Briton appointed to the post last year, said yesterday that the Authority's board viewed Mr. Cox's appointment as "a key development in our succession planning process".The BMA has also made a number of other changes to its management team, with Shanna Lespere promoted to the position of director, or insurance, licensing and authorisations, Lespere has been promoted to the position of director, insurance, licensing and authorisations, and Mesheiah Crockwell has been promoted to the role of assistant director of insurance and compliance."Jeremy brings the depth of experience, management skills and vision required for this position," said Mr. Elderfield."The chairman and board also view this as a key development in our succession planning process, which aims to ensure we nurture and maximise the talent and skills we have within the Authority to cover the organisation's needs from a management and operational perspective now and for the future."Mr. Cox, who is currently the BMA's supervisor of insurance, will be responsible for all supervisory activities conducted by the Authority, including the supervision of banks, trust companies and investment businesses. He will also assist in the on going strategic development and direction of the Authority and formally deputise for the CEO in his absence, in capacities related to the executive management of the Authority, as well as via participation in external initiatives or meetings with Government and industry stakeholders.Mr. Elderfield added: "We are delighted that Jeremy, Shanna and Mesheiah have accepted the challenge of these appointments. The new deputy CEO position brings together key responsibilities at the top of the organisation within our strategic management framework. "As director, Shanna will continue to make a valuable contribution to the executive, and we are very pleased to welcome Mesheiah to the senior management team where she will no doubt use her strong technical background to great effect. "I have already enjoyed working with these three outstanding individuals as part of our team at the Authority and I'm very much looking forward to collaborating with each of them even more closely in their new roles."