The Governor, Peter Beckingham, announced on 11 December that he was pleased to accept the recommendation of the Financial Services Commission Board that Mr Niguel Streete is appointed as the next Managing Director of the Financial Services Commission.
Speaking at the FSC’s annual general meeting the Governor said: “I am delighted to announce the appointment of Niguel Streete as the next Managing Director of the Financial Services Commission. I have spoken to Niguel on several occasions, and he brings a wealth of experience to this important and challenging position. He is evidently relishing the prospect of taking up this senior position, and he should bring some interesting and valuable new perspectives to the position. I am also pleased that the Board have specifically charged Mr Streete with fostering talent for the FSC’s senior leadership within the organisation. ”
The Governor also acknowledged that the current Managing Director, Kevin Higgins, and his team had managed to implement some important changes to the FSC’s role, and he noted that they had emerged generally positively from a thorough review by the IMF this year.
“The FSC is an important part of the structure of governance in Turks and Caicos, and it is to their credit that the IMF gave overall a positive account of their findings here. The financial services plays a small, but important, role in the life of TCI, and I am still hopeful that the Government and industry, especially through the formation of the new Invest TCI body, will together find ways of developing the sector.”
Speaking on the announcement of his appointment Niguel Street said: “I am delighted and honoured to be invited by the Board to take up this important role in Turks and Caicos Islands. I am confident that, with my experience in the Eastern Caribbean, I can bring new ideas and methodologies to the FSC, as well as contribute to nurturing home grown talent within the organisation.”
Mr Streete takes up his appointment, which is initially for an eighteen month period, during February 2016. His current appointment is Deputy Executive Director of the Grenada Authority for the Regulation of Financial Institutions (GARFIN). He is also Chairman of the National Steering Committee on Exchange of Information for Tax Purposes, and Chairman of the Regional Steering Committee for the establishment of a Single Currency Market in the Eastern Caribbean Currency Union.
Mr Streete has over 20 years experience in financial sector development, supervision and regulation. He has worked as the head of the Anguilla FSC, and held several senior positions in the Eastern Caribbean Central Bank. He holds an MSc with distinction in international economics, banking and finance from the Cardiff Business School, University of Wales, and a BSc Accounting from the University of the West Indies.
