The BVI Financial Services Commission (the Commission) announced this week, that Mr. Robin Gaul FCCA, Chairman of its Board of Commissioners, will retire from office with effect from 30 June 2024, following a stellar and lengthy tenure with the Board.

Mr. Gaul, a trained accountant, served in various private practice roles, including accountant, financial advisor, and partner, before retiring and joining the inaugural Commission Board in 2002 as Deputy Chairman under the leadership of then-Chairman Michael Riegels QC; he was later appointed Chairman in 2006. 

Despite his quiet style of leadership, Mr. Gaul was known for his meticulous command of the Board and knowledge of the Commission, the financial services industry, the Financial Services Commission Act and other financial services legislation. Board Commissioners and executive administrators over the years can each attest to his fastidious preparation for Board meetings, and balanced approach to the issues and pressures that the Commission faced over the years.

Managing Director and CEO of the Commission, Mr. Kenneth Baker, expressed that he was “grateful for the critical leadership role that Mr. Gaul played, and the major hand he had in assisting the Commission to establish a policy direction in line with its functions of maintaining stability, integrity and efficiency in the Territory’s financial system.” Baker also cited that Mr. Gaul was “a stickler for the amplification of mechanisms which could assist the Commission and Territory in detecting and mitigating systemic risks in the financial services sector, noting that without this calibre of foresight, systemic imbalances could easily manifest and set in motion domino effects that negatively impact the bottom line of businesses and individuals alike, in the Territory.  We will miss his steadfast, strong, visionary leadership and exemplary work ethic.”

The governance framework instituted under Mr. Gaul’s leadership will undoubtedly continue to serve as an important benchmark for subsequent Chairpersons and Board Commissioners. 

Outgoing Chairman Gaul expressed that, “It has been an honour to serve the BVI Financial Services Commission and to preside over its Board for almost two decades.  During my tenure, the institution was flanked by a number of momentous and trying issues; however, the challenges did not seem insurmountable due to our ability to unify and focus on acceptable solutions. I have been extremely fortunate to be able to work very closely with successive competent Boards. Likewise, I am profoundly appreciative of the professional bonds that I have been able to forge with former Managing Director and CEO Dr. Robert Mathavious and Mr. Kenneth Baker, who ably and admirably succeeded him. I also wish to thank the executive team and staff at the Commission for their devotion to achieving internationally accepted standards in financial services regulation and for their camaraderie. I will miss my role as Chairman but also relish the idea of disengaging from active work-life and enjoying retirement.” 

The Commission said, “as a whole we join in wishing Chairman Robin Gaul a well-deserved and enjoyable retirement.”