From People Apr 8 2013 BY: Helen Burggraf

Marcus Killick, who has been chief executive of Gibraltar’s Financial Services Commission for the past decade, is to step down later this year.

No successor has yet been named, and the FSC plans to launch a recruitment process imminently, assisted by UK consultants Hanson Green, Killick said.

Killick told International Adviser  that he has no specific plans beyond September, by which point a successor is expected to have been found.

“My desire is to remain in Gibraltar, but I have to go where the work is,” the 50-year-old executive said. “[And as] I am contractually barred from working in the Gibraltar finance sector for six months after I leave, plans now would be a bit premature.”

‘Longest serving’

Killick is described by the FSC as having been one of the longest-serving heads of a financial services regulator in the world.

He announced his decision to leave his post last month, at an FSC board meeting.

Explaining his reasons for leaving now, Killick said: “Having served for 10 years I believe the time is now right for a new CEO to drive the FSC forward in the medium- to long-term. I have always said this was my last term, and believe it in the best interests of the commission for this transition to take place now.”

An English barrister by training, Killick is also a member of the New York State Bar. Prior to coming to the FSC in April 2003 as CEO, Killick spent five years with KPMG in the UK, where he was director of its Financial International Regulatory Services team, which gave him a detailed understanding of regulatory matters having to do with UK territories in particular, including Belize, the British Virgin Islands, the Cayman Islands, St Kitts, St Lucia, the Seychelles and so on.

Killick’s other previous roles included head of banking, trusts and investment services for the Cayman Islands Monetary Authority in the late 1990s, and four years as deputy chief executive of the Isle of Man Financial Supervision Commission.

For more on this story go to:

http://www.international-adviser.com/news/people/gib-fsc-ceo-killick-stepping-down