Pioneer of the BVI Financial Services Industry Dr. Robert Mathavious who recently retired as Managing Director and Chief Executive Officer of the BVI Financial Services Commission (FSC) will be honoured over the next two days at a conference entitled ‘Global Currents’.
This is according to a media release which confirmed that the two-day event starts on Wednesday, November 17, with a black-tie gala at Scrub Island Resort and continues on November 18 at the BVI International Arbitration Centre with informative keynotes and panel discussions from BVI based and international industry professionals.
Topics to be covered include global tax in an era of increased nationalism, global Britain; talent management; trends in key markets; and centres of excellence, which looks to the future of the BVI.
Conference Coordinator, Mrs Lorna Smith, OBE commented on the significance of the conference, stating, “While we believe it is fitting to have such a conference to honour Robert’s monumental contribution to our largest economic sector, in keeping with who he is, the conference looks ahead to continue the work of our internationally renowned industry.”
Fund raising event
The release also said that the conference is also a fundraising event, with raised funds to be used for scholarships for residents wishing to enter the financial services industry or up-level their skills through the Financial Services Institute (FSI) at the H. Lavity Stoutt Community College.
Commenting on the initiative Mrs. Smith said it supports Dr Mathavious’ legacy of ensuring that the territory equips itself with the right talent to drive the industry forward.
She said, “Robert has been a mentor to many in this sector. Our committee wanted to ensure that this work is not just a conference and we go home, but an opportunity to help prepare the next generation of professionals fashioned in Robert’s tenacity that will continue to find new ways for the BVI to maintain its leading position in global finance.”
Dr. Mathavious’ legacy
Dr Mathavious has had a 25-year career as a civil servant, during which he served as Deputy Financial Secretary (1980-1985), Financial Secretary (1985-1991) and Director of Financial Services (1993-2001). In January 2002, he assumed the post of Managing Director/Chief Executive Officer of the Commission. He retired from this post on December 31, 2020.
As Managing Director/Chief Executive Officer of the FSC, he was responsible for establishing and maintaining the territory’s regulatory practices to ensure compliance with international standards. He has played a pivotal role in charting the course of the development of the BVI financial services industry for over 35 years. The industry now brings in an approximate annual revenue of US $200 million for the BVI.
Dr Mathavious holds a Bachelor of Science Degree in Economics from the University of the West Indies and a Masters of Business Administration from Georgetown University in the United States. In 2013 he was awarded an honorary doctorate degree from the University of the West Indies. He was FSC’s first Managing Director/CEO since this statutory body was created in 2001 with the enactment of the Financial Services Act. Mr Ken Baker has succeeded him.