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What do we know about the new FMACEO?

The Financial Markets Authority states that it is pleased with the process used to hire the new CEO following reports of past employment disputes, defamation allegations, and conflicts of interest with her. ..

Monday, September 20, 2021 6:00 AM

Matthew Martin

On Monday, the Financial Markets Authority (FMA) Presentation It found a replacement for retiring CEO Rob Everett, who resigned at the end of October.

His successor, Samantha Thavasa, will join the regulatory agency in January.

according to The report has been published NS GBC News In Gibraltar, Barras reached a secret out-of-court financial settlement and withdrew her allegations against the government, the Gibraltar Financial Services Commission (GFSC), and the Minister of Financial Services of the Employment Tribunal in June 2020.

Barras was appointed Chief Executive Officer of GFSC in October 2019, almost a year before the contract expired.

According to GBC News, the proceedings were dismissed after the claim was withdrawn and each party incurred its own costs.

In 2016, Barras was chaired by Cruz, along with former GFSC Legal Officer Peter Taylor and GFSC itself.

Cruz Withdrew his proceeding In July of this year after agreeing to accept £ 90,000 for his legal costs from GFSC.

“Ms. Baras caused some controversy when she assumed a part-time role on the board of directors of PwC’s UK public interest group for five years as CEO of the Commission.” GBC News The report said.

According to his LinkedIn profile, Baras resigned from PWCUK’s board of directors in December 2019 after an 18-month term.

In a statement from the FMA, the board stated that it was aware of these issues from the beginning. “… I’m completely confident that these issues won’t cause any problems as a result of due diligence.”

“The employment case is subject to normal confidentiality and was resolved over a year ago and was considered irrelevant,” the statement said.

The PwC appointment was supported and approved by the Chairman and Board of Trustees of the Gibraltar Financial Services Commission and was subject to standard dispute management policies, FMA said.

“The FMA Board has carefully considered the defamation case situation and considered it to be a professional risk associated with this type of attention-grabbing regulatory role.

“Extensive due diligence discussions show that Ms. Baras’ time at GFSC was highly valued at GFSC and elsewhere. Ms. Baras is empathetic in building a strong and inclusive culture. Was considered a leader. “

FMA used executive search firm Hobson Leavy to conduct a national and international search for the new CEO in the first long-list interview conducted by Hobson Leavy.

Three board members, including Chairman Mark Todd, interviewed the finalists, followed by the entire board.

tag: FMA Recruitment Samantha Thavasa

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What do we know about the new FMACEO?

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