• Holland And Barrett Vitamins Gibraltar Offer

Jan 24 - FSC Welcomes Newest Member as Chairman

fsc member adrian coles The Financial Services Commission has welcomed new Commission Member, Mr Adrian Coles, following his appointment by Financial Services Minister Albert Isola.

Mr Coles is set to replace outgoing FSC Chairman, Alan Whiting who, after nine years at the FSC, reached the end of his permitted tenure as a Commission Member. The outgoing CEO of the FSC, Marcus Killick, on behalf of the staff and Commission thanked Mr Whiting for his years of service to the FSC, the latter ones as its Chairman.

Adrian Coles acted as Chief Executive of a major UK financial services trade body the Building Societies Association (BSA) for twenty years. Adrian also has a range of international, non-executive and task force experience in the social housing, education, co-operative, financial regulation, pension trustee, charitable and mutual sectors. His role involved presenting the BSA case to Ministers, MPs, regulators, and the media. Most recently, advancing the case for mutually owned lenders and deposit-takers at a time of wide financial market disruption, and the associated regulatory changes. Adrian stood down from his role at the end of November 2013.

Commenting on his appointment, Mr Coles stated, ‘financial services play a key role in enhancing both general economic growth and individual well-being. However, financial firms must possess the right culture, be able to compete with each other in well-structured and open markets, operate from a solid financial position, and create and deliver good value-for-money products. Proper regulatory structures are important in creating an environment in which firms can meet these objectives.

‘I am delighted to have been asked to participate in the work of the Financial Services Commission. The Commission's role in enhancing and promoting the reputation and standing of the financial services sector in Gibraltar cannot be over-stated and I hope I can play a part in helping the Commission to fulfill its important duties."

‘The board of the Commission has also appointed Mr John Tattersall to succeed Mr Whiting as its Chairman. Mr Tattersall has been a Commission member since Oct 2009. Mr Tattersall presently sits as Non-executive Director and Chair of the Risk Committees of UBS Limited, UK Asset Resolution Limited, Northern Rock (Asset Management) plc, Bradford & Bingley plc as well as being a Board member and Chair of the Audit Committee of R Raphael & Sons PLC as well as a number of other positions.’