Feb 24 - Gibraltar FSC Welcomes New Board Member
Following the recent announcement regarding the new Chairman of the Gibraltar Financial Services Commission board, Dr Jonathan Spencer, the GFSC is delighted to announce that the Minister with responsibility for Financial Services has recently appointed Paul Sharma as the new board member filling the position left vacant on the retirement of the previous Chairman, John Tattersall.
Paul is currently MD and Head of the EU Regulatory Advisory Services Practise at Alvarez & Marsal having joined in 2014, from the PRA and previously the FSA.
Dr Spencer commented: “Paul has had an eminent career as an accountant and a regulator, covering insurance and banking. He is widely recognised as an expert in prudential regulation, and has applied this expertise in international and European committees where new thinking on regulation has been developed. A prime example is the Sharma report of 2002, which was a precursor for the Solvency II regime."
"Paul brings enormous expertise of important European processes having chaired key European committees, including EIOPA’s Pillar 1 and Internal Model Committees, which developed EIOPA’s advice to the European Commission. He has also represented UK regulators in the Basel Committee on Banking Supervision and at the boards of supervisors of EIOPA and the EBA. In the world of regulation, this is where the key decisions that affect the daily running of financial institutions big and small are made," Dr Spencer added.
Samantha Barrass, the GFSC CEO, commented: “Paul’s thought leadership contribution to financial regulation has been recognised by such bodies as the Institute and Faculty of Actuaries, who awarded him an honorary fellowship, and the IAIS, who made him a Distinguished Fellow following his time as a member of their Executive Committee.
"Moreover, whilst Paul was at the FSA and subsequently the Bank of England, where he was an Executive Director, he developed and led the regulator’s team of risk specialists and subsequently became the Director of Policy. This role included membership of the Bank’s Resolution Committee."
The Minister for Financial Services, Albert Isola, said “Paul is an ideal board member for the GFSC, as he can bring his many years of experience to bear on the issues facing the Commission. He is no stranger to challenge and has hands on experience of tricky regulatory issues where he has always provided innovative and thought through solutions.”
Mr Sharma commented on the Minister’s decision saying: “I look forward to working with the GFSC board members and staff in meeting the Commission’s objectives for the coming years. It is an honour to accept the responsibility and challenges ahead, and I look forward to the first board meeting that I will be a part of.”
Mr Sharma will be joining the Commission for his first board meeting this March.
{fcomment}
