HAMILTON, Bermuda: The Bermuda Monetary Authority announced on THursday that Matthew Elderfield has been appointed as the organisation’s next Chief Executive Officer (CEO). 

Elderfield brings 20 years of experience in international financial services regulation to the Authority, encompassing supervision, policy and risk management and high-level advocacy in the US and Europe.

He is due to take up this appointment from July 16, 2007, and Cheryl-Ann Lister, the Authority’s current CEO, has agreed to remain with the organisation through a handover period until August 17, 2007.

Matthew Elderfield

“We are delighted to welcome Matthew to the BMA team,” said Alan Richardson, Chairman of the Bermuda Monetary Authority. “His career has been highlighted with an impressive technical ability, as well as a progressive and outstanding record of achievement in all of the positions he has held.”

“Matthew has already demonstrated that he possesses an acute sense of the opportunities and challenges facing Bermuda as a jurisdiction and the Authority as Bermuda’s financial services regulator,” added Richardson. “We look forward to welcoming him and his wife Margaret to the island when he takes up his appointment in July, and to working with him subsequently as he leads the organisation into its next phase of development.”

Elderfield said: “I am looking forward to working with the BMA’s Board, staff and stakeholders to determine how the work of the Authority should develop in the changing international regulatory environment.

“This appointment presents a challenging and interesting opportunity, and I am very pleased to be joining the BMA team to make a contribution to Bermuda’s continued success as a well-regulated financial services jurisdiction.”

In acknowledging incumbent CEO Cheryl-Ann Lister, Richardson paid tribute to her leadership of the Authority over the past eight years as she moves into the final phase of her tenure with the organisation.

“We are very grateful to Cheryl for her continued commitment to the Authority,” he said. “On behalf of the Board, management and staff of the BMA, I would like to express our sincere appreciation of her outstanding contribution in leading the organisation to this point and also for her support through this transition period.”