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IFC shake-up finalised: Ortiz Out! Donovan In!

Julien N. Johnson reportedly turns down job, compensation package was unacceptable
Elise Donovan (left) is expected to be named the new Executive Director of the International Finance Centre in the coming weeks. She will replace Sherri L. Ortiz who was reportedly forced out and has already left the IFC and now runs her own business.
Julien N. Johnson who was recommended for the post of Executive Director of the International Finance Centre reportedly turn down the job over compensation issues. Mr. Johnson will remain at the Financial Investigative Agency.
Julien N. Johnson who was recommended for the post of Executive Director of the International Finance Centre reportedly turn down the job over compensation issues. Mr. Johnson will remain at the Financial Investigative Agency.
ROAD TOWN, Tortola, VI - As firstly and accurately reported by Virgin Islands News Online in January of this year, Sherri L. Ortiz’s contract was not renewed as the Executive Director of the International Finance Centre (IFC) and she has since left the organisation. It is this news site’s understanding that Ms. Ortiz now runs her own business.

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.

Click here to read "Is Sherri L. Ortiz the next local to be forced out?"

24 Responses to “IFC shake-up finalised: Ortiz Out! Donovan In!”

  • Queen Mary (22/06/2012, 08:44) Like (0) Dislike (0) Reply
    Well elise born here and got roots so I am happy and she can do dey work!! BAM
    • roots (22/06/2012, 16:08) Like (0) Dislike (0) Reply
      its amazing just because some of you do not like some of the elected NDP people (because they have roots from down island) all of a sudden everything or the buzz word is about who is indigenous and who is not...ayo good mehson
  • BVI lawyer (22/06/2012, 08:45) Like (0) Dislike (0) Reply
    Not sure that the IFC has played a "pivotal role in the promotion and marketing of the Virgin Islands" for several years now. Hopefully a shake up in personal will wake them up from the coma that they have been in for the last few years.
  • Crank Shaft (22/06/2012, 09:18) Like (0) Dislike (0) Reply
    Julien boy you're right, don't let them string you like no puppet. They want you in position they have to pay, that's the problem with Government which is why they always get the dregs. Most properly qualified professionals will not work for petty change, people got bills to pay. Further, Government only get certain people working for them because of the scholarship requirements.
    • What (23/06/2012, 10:17) Like (0) Dislike (0) Reply
      Any remind me again what is Jullian qualified for? He currently handles the book keeping in his current position and is demand top dollars with that level of experience. Give me a break. Continue on your power trip "me son"
    • Oh really (23/06/2012, 16:50) Like (0) Dislike (0) Reply
      Please, is he wanted the job not the government want he. Let's get it correct. Too greedy that's why they didn't accept the amount he wanted, for a person with lack of experience.
  • DarkVader (22/06/2012, 09:19) Like (0) Dislike (0) Reply
    What shake up? Her contract was not re-newed under the VIP government...she has not been there for a while now..
    • under dog (22/06/2012, 09:56) Like (0) Dislike (0) Reply
      Scatter your self "DarkVader" she was removed under the NDP as Lorna told her to her face her contract will not be renewed and she can reapply. You wicked NDP always trying to rewire history with propaganda…but Cherri not no worry girlfriend the world is a circle.
      • Crank Shaft (22/06/2012, 14:32) Like (0) Dislike (0) Reply
        Stop with the damn lies man, people know better. NDP won elections 7 months ago. Sherri's contract had expired and she was asked to reapply long before that date. How is it NDP's fault?
        • PERSIA (22/06/2012, 16:37) Like (0) Dislike (0) Reply
          the NDP is so mean in how they treat locals, if they did not want her they could have reassigned Cherri to another government Department..do they know how hard it is for a new business to succeed in this hard economic time???
      • DarkVader (23/06/2012, 07:37) Like (0) Dislike (0) Reply
        Partner, you go get your facts streight. When her contract was up, her government give her a 6 months extension on her contract. If they wanted her to stay, why the hell they did not re-new her contract fully? The VIP government did not want her there for they said she did no good for the department. Its obvious for look at how they handled her contract...so why NDP had to keep her? Get the facts man!!!
    • neclear (22/06/2012, 12:47) Like (0) Dislike (0) Reply
      yeap its a shake up alright!!!
  • she the cat mother (22/06/2012, 09:32) Like (0) Dislike (0) Reply
    Well saw Elise finally landed a job…hope she does not fall out like Nina with the powers that be.
    • observer (22/06/2012, 13:00) Like (0) Dislike (0) Reply
      Unfair comment about Elise's ability to find a job, as the job should have been hers in the first place. I have worked with both and know that the former head got the job based on connections and not ability while Elise lost the job on lack of connections, not the lack of ability.
  • vip (22/06/2012, 09:59) Like (0) Dislike (0) Reply
    dont get too comfortable
  • john public (22/06/2012, 10:04) Like (0) Dislike (0) Reply
    thanks vino for shedding light on those dark secrets
  • Not2Sure (22/06/2012, 13:20) Like (0) Dislike (0) Reply
    I worry it is just another career civil servant with no real understanding of the industry. Very hard to sell a product effectively if you have never really worked on the front line dealing with clients who use BVI structures.
    • Absolutely Agree! (22/06/2012, 16:14) Like (0) Dislike (0) Reply
      Thank You! That is exactly the problem. That whole department is a bunch of people who do not understand the product they are selling because they have never worked in the mines to understand it! The likes of a Ms Mercy and Ms Blue who are out there attending conferences and road shows and cannot hold an intelligent conversation on BVI Busineess Companies, BVI mutual funds or the industry itself. They hand out outdated material referring to legislation that is no longer applicable! But until the government is willing to pay top dollar instead of peanuts, they can only get monkeys to fill the posts! Dun talk...
  • tell the whole story (22/06/2012, 16:11) Like (0) Dislike (0) Reply
    "Ms. Donovan, an indigenous fourth generation Virgin Islander"...vino this is some research ???? do you mean if she was only born here like Myron or Archie that would have eliminated her from the job???? inquiring minds whats to know?????
  • taxpayer (22/06/2012, 17:59) Like (0) Dislike (0) Reply
    For sure there will be no more trips to Brazil during their carnival to sell the BVI. Of course DUBI amd India will also be off limit as well. Hmmm.
  • How (22/06/2012, 20:22) Like (0) Dislike (0) Reply
    Positive....we all need to support whoever is in the job and right now if that is Ms. Donovan, we should give her our fullest support ad make sure that she is up to date all matters concerning her job. Congrats Elsie. Mr. Johnson must have reason not to accept and he has that right. Ms. Ortiz, you have many options and we pray thing work for you in your endeavors.
  • Tolan (22/06/2012, 23:18) Like (0) Dislike (0) Reply
    Another casualty. How many more?
  • Huh (24/06/2012, 16:03) Like (0) Dislike (0) Reply
    Julien N. Johnson reportedly turns down job, compensation package was unacceptable????? Either this isnt true or Julien acted like an idiot in this case! The salary for govt jobs is posted. This article posts it for crying out loud. 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. If he knew what the salary was and applied......how could he turn it down saying the compensation package is unacceptable????? He may not have known whether he was getting the job but the one thing he would have known is what it was paying!!!!


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