Financial Services Director moves on

26 April 2016

The Director of Financial Services, Joe Moynihan, will be leaving his post with the States of Jersey later this year to pursue his career in the private sector. In the last three years Mr Moynihan has set up and led the Financial Services Directorate, which works alongside the financial services industry to strengthen Jersey’s position as a world-class financial services jurisdiction.

He has established a mutually supportive relationship between industry, regulator and government, and played the lead role in co-ordinating government’s response to the McKinsey recommendations, working with the other key stakeholders to secure the island’s future as an international finance centre.

Assistant Chief Minister, Senator Philip Ozouf, said “Mr Moynihan joined us at a time of great uncertainty. His combination of outstanding leadership within the public sector and effective, charismatic engagement with those outside the organisation has been of enormous value.

“In his time with us he has represented Jersey off island, speaking regularly at industry events and promoting Jersey’s quality financial proposition.  The respect he has from the industry and the States is a mark of his dedication and professionalism. We will be sad to see him go, but wish him well as he leaves to take up a senior role in international financial services.”

The Chief Minister, Senator Ian Gorst, said “Mr Moynihan was responsible for our first Financial Services Policy Framework, which sets out the government’s framework to achieve future success. The policies outlined in this framework are vital to the future of the industry which provides significant local employment and funding for public services.

“Mr Moynihan has improved the financial services legislative process through better communication between key stakeholders, changes to the process and shortening delivery time. His significant industry experience has provided ministers with invaluable support on key policy issues and strategic decision making to help us with the political challenges we face. We wish him well in his future career.”

Mr Moynihan says he has enjoyed working in the States “My key task was working with Jersey Finance and Jersey Financial Services Commission to implement the recommendations of the McKinsey review of the financial services industry.

“Over the past three years we have seen growth in employment numbers in a more diversified financial services industry. I am confident that this will continue, given the breadth and depth of talent, experience and expertise in the industry and the strong government support. 

“I have been fortunate to work with some great people and my reasons for leaving are entirely personal. I was approached for this exciting opportunity abroad at the start of the year.”

A recruitment process for a Director of Financial Services will begin shortly.