A Bank of England retiree with extensive financial services and regulatory expertise has been appointed the new vice-chair of Bermuda's Financial Policy Council.

Jill May is a seasoned financial services leader with a distinguished career in investment banking, particularly in mergers and acquisitions and senior strategic roles.

Established in 2015, the Financial Policy Council advises the Ministry of Finance and the Bermuda Monetary Authority on financial system stability in Bermuda.

Its purpose is to assess possible threats to Bermuda’s financial stability and identify policies and actions to mitigate or eliminate such threats.

It also advises on developing the financial stability framework in Bermuda and makes policy recommendations designed to support the country's general economic and financial wellbeing.

In announcing Ms May’s appointment, the Ministry of Finance said: “Over the past 12 years, she has transitioned into a diverse portfolio of non-executive director and similar roles across listed companies, public sector, regulated industries and non-profit organisations.

“She served as a panel member and NED of the UK Competition & Markets Authority for five years before joining the Prudential Regulation Committee of the Bank of England in 2018 as an external member.

“She completed her second term and retired from the bank in July 2024. Her deep expertise in regulation and public policy, reflecting her recent work and her extensive background in business, markets, and financial services, translates well into contributing to Bermuda's financial sector.”

Ms May holds a BA in Economics from Durham University and was awarded the Adam Smith Economics Prize, an award given to the student at Durham University who achieves the highest overall mark in the Economics programme.

The Ministry said: “Jill's previous roles include serving as a NED at Alpha FMC from 2020 to 2024, where she chaired the ESG committee, and as a NED and SID at Ruffer Investment Company from 2017 to 2022. She was also a NED at Sirius Real Estate from 2017 to 2020.

“Her regulatory experience includes her time as a panel member at the Competition and Markets Authority from 2013 to 2018 and as a NED and member of the Audit and Risk Committee at the CMA from 2013 to 2016.

“Additionally, she served as a NED at the Institute of Chartered Accountants of England and Wales from 2015 to 2019 and as a member of the Council at Durham University from 2012 to 2018.

“She also served as a NED at the UBS UK Pension Scheme from 2007 to 2010 and as chair of the UBS UK Women’s Network from 2008 to 2011.

“Jill was honoured with the British Empire Medal in 2019 for her services to Cancer Research UK.”