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Bermuda Monetary Authority names new CEO


HAMILTON, Bermuda—Matthew Elderfield has been appointed chief executive officer of the Bermuda Monetary Authority effective July, the BMA said Thursday.

Mr. Elderfield has 20 years experience in international financial services regulation, most recently as department head of the major retail groups division at the U.K. Financial Services Authority.

Mr. Elderfield, who begins his role as CEO of the Bermuda regulatory body on July 16, succeeds former Chairman and CEO Cheryl-Ann Lister. Ms. Lister last year announced her intention to step down from both positions, but agreed to remain with the BMA "through a handover period until Aug. 17," the BMA said in a statement.

Under BMA rules amended last year, the chairman and CEO posts were split into separate roles.

"We are delighted to welcome Matthew to the BMA team," BMA Chairman Alan Richardson said in a statement. "Matthew has already demonstrated that he possesses an acute sense of the opportunities and challenges facing Bermuda as a jurisdiction and the authority as Bermuda's financial services regulator."