IFC shake-up finalised: Ortiz Out! Donovan In!
Virgin Islands News Online’s sources had disclosed that there were two possible front runners for the post.
They were Elise Donovan, the former Financial Services Literacy Coordinator at the Financial Services Commission who has since been transferred to the Premier’s Office to coordinate International Affairs and Julien N. Johnson, the Operations Manager of the Financial Investigative Agency.
The front runner for the job was Julien N. Johnson, who was reportedly recommended and had the blessings of Premier Dr. D. Orlando Smith, but it is alleged that he turned down the job over an inadequate compensation package.
Now word is that the runner up Elise Donovan, is expected to be named the Executive Director of the IFC in the coming weeks. Ms. Donovan, an indigenous fourth generation Virgin Islander, holds Bachelor’s and Master’s Degrees and has years of public sector experience.
Ms. Donovan is the daughter of long time Virgin Islands educator Belsadys ‘Teacher Bell’ Donovan.
The first Executive Director of the IFC was Lorna Smith OBE, the wife of Premier Dr. D. Orlando Smith. If Ms. Donovan is named, she would become the third woman to hold the post and the fourth Director of the relatively young Government Department.
When contacted by Virgin Islands News Online, Permanent Secretary in the Premier’s Office Ms. Rosalie Adams did not deny nor confirm the upcoming appointment, but said “there is nothing official at this time, at the appropriate time the media will be advised.”
Meanwhile, Ms. Donovan also reiterated Ms. Adams’ comment when contacted.
Purpose of the IFC
The Virgin Islands IFC plays a pivotal role in the promotion and marketing of the Virgin Islands (VI) as a leading financial centre. Established in 2002 as part of the Government’s commitment to support the financial services industry, the aim of the IFC is to provide a voice to the VI’s financial industry.
According to the IFC’s website, the launch of the Centre marked the final stage in the government’s commitment to international principles to separate the marketing/promotional functions from the regulatory/supervisory areas of the Territory’s financial services industry.
The International Finance Centre continues to enhance and promote the reputation of the VI as a premier offshore jurisdiction.
The Executive Director of the VI International Finance Centre’s post is a government job that attracts a salary of $78,043-$107,071 in grade 19.
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