Turks and Caicos Names New Head of Financial Services Commission

A new managing director

Governor Peter Beckingham has appointed Niguel Streete as the next Managing Director of the Financial Services Commission, in accordance with the recommendation of the commission’s board.

Streete brings over 20 years of experience in financial sector development, supervision, and regulation.

He has served as the head of the Anguilla Financial Services Commission, and held several senior positions in the Caribbean Central Bank.

“I have spoken to Niguel on several occasions, and he brings a wealth of experience to this important and challenging position,” Beckingham said. “He is evidently relishing the prospect of taking up this senior position, and he should bring some interesting and valuable new perspectives to the position. I am also pleased that the Board have specifically charged Mr Streete with fostering talent for the FSC’s senior leadership  within the organization. ”

The Governor also noted that the current Managing Director, Kevin Higgins, and his team have implemented some significant changes to the role of the FSC, and that they have have received generally positive feedback from a thorough review by the IMF this year.

“The FSC is an important part of the structure of governance in Turks and Caicos, and it is to their credit that  the IMF gave overall a positive account of their findings here,” said Beckingham. “The financial services plays a small, but important, role in the life of TCI, and I am still hopeful that the Government and industry, especially through the formation of the new Invest TCI body, will together find ways of developing the sector.”

“I am delighted and honored to be invited by the Board to take up this important role in Turks and Caicos Islands,” Streete said. “I am confident that, with my experience in the Eastern Caribbean, I can bring new ideas and methodologies  to the FSC, as well as contribute to nurturing homegrown talent within the organization.”

Streete will take up his appointment, which is initially slated for an eighteen month period, in February 2016.

He currently hold the roles of Deputy Executive Director of the Grenada Authority for the Regulation of Financial Institutions, Chairman of the National Steering Committee on Exchange of Information for Tax Purposes, and Chairman of the Regional Steering Committee for the establishment of a Single Currency Market in the Eastern Caribbean Currency Union.