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Financial Services Commission CEO resigns

Two years after taking the leadership reins at the Financial Services Commission (FSC), Chief Executive Officer (CEO) Randy Graham has resigned.

Graham, who initially joined the FSC in 2012 as director of insurance and pensions, was later appointed CEO of the regulatory authority in June 2014.

In a release Monday, no reason was given by the FSC for Graham’s surprise resignation, which takes effect from January 1, 2017. However, it said he would be moving on to other personal and professional pursuits.

In the statement, Graham also expressed gratitude to staff who he said had bought into the strategic vision of the organization and were pivotal to the FSC’s development.

“Together we were able to develop and apply cutting edge regulatory assessment models that in our relatively short existence, have helped us to earn the respect of our fellow regulatory bodies, locally and internationally,” the outgoing CEO was quoted as saying.

“When I was appointed CEO of FSC, the team, with invaluable guidance from the Board of Commissioners, had already made several achievements as a new regulatory agency. We worked diligently to institutionalize our focus on financial stability, ensuring consistency to quality output, and communicating effectively with registrants; the staff was absolutely brilliant during this transformation. I remain confident, as I was back then, in their ability to build on existing strengths, having articulated a strategic vision to ensure a robust regulatory environment is maintained in the non-bank financial sector,” he added.

Back in April, FSC Chairman Sir Frank Alleyne had credited Graham with moving “expeditiously to create an organizational structure in FSC that has its foundation in excellent corporate governance and succession planning at all levels”.

5 Responses to Financial Services Commission CEO resigns

  1. Tony Webster November 8, 2016 at 5:56 am

    With so many of our major publicly-owned companies having either de-listed, or been bought-out…or having removed themselves from this jurisdiction, ( not to mention departing Off-shore/ International companies) is strikes me as quite likely the gentleman found himself with little to do, or to actually accomplish, during working hours.

    Wish you well, Mr. Graham… and hope you find greener pastures.

    Reply
  2. Hal Austin November 8, 2016 at 6:18 am

    Offer the job to someone with suitable experience from overseas. Local people may have the qualifications and intelligence, but not the experience.
    Head hunt a good local person to be a future CEO, get them working for two or three years with the overseas guy.

    Reply
  3. Bobo November 8, 2016 at 2:11 pm

    Right on Mr Hal Austin–”Experience is the name of the game”

    Reply
  4. Ian Bourne November 8, 2016 at 2:48 pm

    Why is it a lack of experience? It could be a meshing of talents and methods? Barbadians still feel local goods are inferior, whereas the man may not wish to be a puppet like those at the Central Bank appear to do?

    Reply
  5. Suzette P November 9, 2016 at 9:17 am

    What every experience Graham has, that is the type of experience we need in Barbados. He is a giant in financial regulation, please don’t let him leave.

    Reply

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