Guernsey: Guernsey Financial Services Commission Announces New Director General
Last Updated: 21 March 2013

The Guernsey Financial Services Commission (GFSC) has announced that William Mason will be appointed the Director General upon Nik van Leuven's retirement.

Mr Mason will join the GFSC from the position of Head of Risk at the Central Bank of Ireland, where he has led the development and implementation of its PRISM supervisory methodology. Most recently he has been working with the European Central Bank helping it plan for the Eurozone's proposed Banking Union. Before that Mr Mason worked for the UK Financial Services Authority, joining shortly before the financial crisis, and led teams supervising a range of credit institutions, insurers and investment firms throughout the financial crisis.

Prior to becoming a financial regulator, Mr Mason worked as a strategy consultant and latterly at the UK Cabinet Office where he helped write Regulation - Less is More, a report to the Prime Minister. His other publications include: Freedom for Public Services; The Costs of Regulation; and PRISM Explained - Implementing Risk Based Supervision.

Commission Chairman Cees Schrauwers, who led the selection process, said: "There was substantial interest in the role and the search for the right candidate has been rigorous. The Commission appointed a UK executive search company, Hanson Green, and a long list of 16 was drawn up from applicants arising from a candidate pool of some 150 people, with 4 making the final interview shortlist.

"The recruitment specialist consulted widely with representatives of Guernsey's financial services industry and other relevant parties before commencing with the process."

The nomination panel comprised Mr Schrauwers, two Commissioners, and Commerce and Employment Minister Deputy Kevin Stewart, while final interviews were conducted by all the Commissioners. Mr Schrauwers said that Mr Mason's career history and track record made him an excellent candidate for the role. Mr Mason will take up his post within the next few months.

Mr Mason said: "Guernsey is a mature and highly regarded financial services jurisdiction. I very much look forward to leading the Commission at a time when global financial services and markets continue to face many pressures and challenges. My wife and I are much looking forward to making our home on the Island, and moving there as soon as practicable."

Mr van Leuven said: "I have come to know William recently through our consulting him on the PRISM project being undertaken for the Central Bank of Ireland. I am certain his knowledge and experience will be of great value to the Commission in these times of threat and change."

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