The Ministry of Finance and the Public Service has announced that former Deputy Governor of the Bank of Jamaica (BOJ), John Robinson, has been appointed as the new chairman of the Financial Services Commission (FSC).
Mr. Robinson is a career economist and banker with experience in the financial sector spanning more than three decades, 36 of which were spent at the BOJ up to his retirement in 2020 as Deputy Governor.
During his tenure, Mr. Robinson held critical roles at the Central Bank, having responsibility for banking and market operations, financial stability, research and economic programming. He has also held positions on the board of the nation’s chief statistical body, the Statistical Institute of Jamaica,(STATIN) and the National Investment Bank of Jamaica.
In noting Mr. Robinson’s appointment, Finance and the Public Service Minister, Dr. Nigel Clarke, stated that the FSC would benefit from Mr. Robinson’s stewardship.
“We are fortunate to continue to benefit from John Robinson’s wealth of experience, relationships and competence. While the BOJ is mandated with the responsibility for maintaining overall financial system stability, entities supervised by the FSC have combined assets that exceed the asset base of deposit-taking institutions (DTIs), that is, banks. Consolidated supervision is, therefore, critical in preserving financial stability, and a strong and seamless working relationship between the FSC and BOJ is essential. I expect John to lead that integration from the FSC end.”
The Financial Services Commission’s mandate is to supervise and regulate the securities, insurance and private pensions industries. The FSC may be described as an integrated financial services regulator and has responsibility to manage the proper administration of the pensions, securities and insurance laws. The FSC oversees the registration, solvency and conduct of approximately 614 firms and more than 4,800 individuals doing business in the pensions, securities and insurance (life and general) industries.