Malcolm Williams has announced his resignation from the position.

His resignation will take effect on March 31. BMA chairman Cheryl A. Lister said the search was currently under way for a replacement.

If one was not found by March 31, BMA deputy general manager Marcia Woolridge-Allwood would become acting general manager for the time being, she said.

Mr. Williams could not be reached for comment. He stated in the Press release he was not looking for any other job. "I have no plans to pursue an alternative career either inside or outside Bermuda,'' he stated.

Mr. Williams jointed the BMA in 1988 as controller of banking and financial services. He was appointed general manager in July 1990.