12 March 2010
The role of Treasurer of States is currently being undertaken on a temporary basis by the newly appointed interim Finance Director, Hugh McGarel-Groves.
The Treasurer, Ian Black, a long standing senior postholder, is currently absent from work due to ill health. While he is recovering, the Public Finances Law requires that the post should be filled on an interim basis to ensure that the functions of the office of Treasurer can be discharged.
Mr Hugh McGarel-Groves FCA BA (Cantab) was appointed interim Finance Director by Mr Black in February, on a 6 month contract. This new post was announced as part of the August 2009 Treasury Restructuring Plan which set out how financial management was to be strengthened.
A chartered accountant and engineering/law graduate of Cambridge University, who spent the first 15 years of his career in various senior financial roles with major multi-national companies including BP, Guinness and Sedgwick, Mr McGarel-Groves has significant private and public sector experience and will fulfil both the posts of Treasurer and Finance Director for the period.
I wish Mr Black a speedy recovery, and am confident Mr McGarel-Groves has the right experience and skills to perform the function of Treasurer in an interim capacity.