Craig Swan and Donald Scott last week stepped into new roles as chief executive officer and chairman of the board of directors, respectively, at the Bermuda Monetary Authority.

Mr Scott has held the position of deputy chairman of the BMA board since 2019. He has served on several board committees, including those focusing on corporate governance and ethics, human capital, legislative and policy, and non-executive directors.

Before his appointment to the board, the BMA said, Mr Scott’s 30-year career was Bermuda-focused, working in government in the technical areas of gross domestic product and national income compilation and in the policy areas of economics, finance and health.

Commenting on his transition into this new role as chairman, Mr Scott said: “For nearly three years, I had the pleasure of serving as the authority’s deputy chair, during which time I have had the benefit of working closely with executive chairman Mr Jeremy Cox, as well as the other highly skilled and deeply experienced directors on the BMA’s board.

“I look forward to further fostering this collaboration with each of these directors and the wider BMA team as we continue to fulfil our mandate as Bermuda’s independent regulator of all financial services.”

Mr Scott’s appointment as chairman of the board was announced in June.

Mr Swan has been in place to become CEO since January last year when he was appointed deputy CEO as part of the BMA’s succession planning.