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Change at the top for the JFSC

After helping to steer the island’s financial regulator for the past decade, John Eatwell is retiring today as Chair of the Jersey Financial Services Commission (JFSC).

A member of the House of Lords, University of Cambridge professor and former political adviser, John joined the JFSC in 2010 as a Commissioner and assumed the role of Chair in 2014.

During his tenure, John has overseen the JFSC’s work to secure and maintain market access into Europe; to achieve the Island’s positive MONEYVAL assessment in 2015; and to deliver Jersey’s register of beneficial ownership and control.

Looking back on the past ten years, and in particular his role as Chair, John commented: “It has been a privilege to serve Jersey as a Commissioner and then Chair of the JFSC. I am immensely proud of all that we have achieved as an organisation and the relationships that we have built with the Government of Jersey, the financial services industry, and with other international regulators and agencies. In the current circumstances, I am saddened that I am unable to say farewell in person to the staff and my fellow Commissioners, but it gives me a very good reason to return to the Island in the not too distant future.”

Former financial secretary to the UK Treasury, JFSC Commissioner Mark Hoban succeeds John Eatwell as Chair from 22 April 2020. With a successful career in business, politics and public policy, Mark recognises the task ahead of ensuring Jersey continues to meet international standards in financial regulation: “John is a very tough act to follow and I speak for everyone at the JFSC when I thank him for ten years of exemplary service both for the regulator and the Island. I am honoured to be picking up the reins and building on the strong foundations that John has helped to lay. We are living in challenging times and, when the current crisis posed by Covid-19 has passed, we will need to be ready to adapt and respond to future challenges so we can continue to protect the people of Jersey and maintain the Island’s reputation as a leading international finance centre.”

Martin Moloney, Director General of the JFSC added: “Since joining the JFSC, I have benefitted greatly from the calibre of our Board and the broad range of skills and expertise of our Commissioners. John’s chairmanship, in particular, illustrates this quality. The work he has undertaken on Jersey’s behalf has been hugely impressive. It has been a pleasure to work with John, albeit briefly. I have greatly valued his advice and support. On behalf of everyone at the JFSC, I thank him for his commitment and counsel. Mark’s experience and expertise make him an ideal successor and I very much look forward to working alongside him to deliver the JFSC’s four year strategic roadmap.”

Mark Hoban will serve as Chair of the JFSC until 30 October 2023.

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Jersey Financial Services Commission