Grainne Richmond has been unanimously elected to join the board of directors of the Bermuda Business Development Agency.

Mrs Richmond will take over as audit and risk committee chairwoman from Fiona Beck, who rotated off the board effective March 31, having completed her term.

The new electee is executive vice-president, head of captives at Aon.

Michael Hanson, BDA chairman, said: “On behalf of the BDA, I welcome Grainne Richmond to the board. Grainne’s two decades of risk and insurance solutions experience will most certainly assist the BDA in its critical mission to facilitate inward investment and equitable economic growth in Bermuda.”

Mrs Richmond said: “I am pleased to be joining the BDA’s board of directors. Given the macroeconomic factors we are faced with, the BDA's mission is more critical than ever and I look forward to contributing to Bermuda's success at this important time.”

Mr Hanson added: "I would also like to take this opportunity to once again express my gratitude to Fiona Beck for her seven years of service to the BDA. Fiona was the epitome of a team player, as exemplified by her willingness to remain on the board for longer than she intended while we appointed our next audit and risk chair. She will be sorely missed."

Ms Beck said: “It was an honour to serve alongside the BDA’s board and full-time staff. I will always look back with fondness at my time at the BDA and will continue to always be a keen supporter of Bermuda’s growth agenda.”