States of Jersey Development Company Limited: appointment of Chairman and Non-Executive Directors (P.32/2011) – amendment.

STATES OF JERSEY

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STATES OF JERSEY DEVELOPMENT COMPANY LIMITED: APPOINTMENT OF CHAIRMAN AND NON-EXECUTIVE DIRECTORS (P.32/2011) – AMENDMENT

Lodged au Greffe on 17th May 2011

by the Minister for Treasury and Resources

STATES GREFFE

2011   Price code: B  P.32 Amd.

STATES OF JERSEY DEVELOPMENT COMPANY LIMITED: APPOINTMENT OF CHAIRMAN AND NON-EXECUTIVE DIRECTORS (P.32/2011) – AMENDMENT

PAGE 2, PARAGRAPH (a) –

1. for the name "Baroness Margaret Ford (Non-Executive Chairman)" substitute the name "Mr. Mark Boleat (Non-Executive Chairman)";
2. for  the  name  "David  Pretty  (Non-Executive  Director)"  substitute  the  name "Jurat John Tibbo (Non-Executive Director)".

MINISTER FOR TREASURY AND RESOURCES

REPORT

The Minister for Treasury and Resources is pleased to recommend for approval by the States Assembly the appointment of Mr. Mark Boleat as Interim Chairman of the States  of  Jersey  Development  Company  Limited.  The  Minister  also  wishes  to recommend Jurat John Tibbo as a Non-Executive Director of the company.

Given the regrettable circumstances surrounding the withdrawal of Baroness Margaret Ford's candidacy as Chairman of the States of Jersey Development Company Limited, the  Minister  for  Treasury  and  Resources  has  agreed  that  the  best  approach  is  to appoint an Interim Chairman and, after the conclusion of the Scrutiny panel process, to commence recruitment for a chair on a permanent basis.

Similarly, following the regrettable withdrawal of Mr. David Pretty the Minister has agreed to recommend Jurat John Tibbo for appointment as a Non-Executive Director, which will provide continuity.

These  appointments  are  fully  supported  by  the  Recruitment  Panel  and  Jersey Appointments Commission and will allow the States of Jersey Development Company Limited to become fully operational, while at the same time allowing for a robust recruitment process to be undertaken in order to appoint a permanent Chairman with the  skills,  experience  and  character  required  to  provide  long-term  leadership  and oversight of the company.

In discussions about putting in place interim arrangements it was agreed that a number of local candidates should be considered to chair the States of Jersey Development Company Limited. Three strong local candidates were considered and it was agreed that Mr. Boleat should be approached.

There were a number of reasons for approaching Mr. Boleat. Firstly, he is very highly regarded and has a strong track-record in previous roles including those endorsed by the States. Furthermore, he has been recently been through a selection process that was overseen by the Jersey Appointments Commission. The Commission supports such an interim appointment and agreed that, in these exceptional circumstances, no further recruitment process was required.

Jurat Tibbo has served on the Waterfront Enterprise Board since it was set up in 1995. It was the Minister's intention to have Jurat Tibbo as his nominated appointment and so  for  this  reason  the  Minister  for  Treasury  and  Resources  believes  that  his appointment  as  a  Non-Executive  Director  of  the  States  of  Jersey  Development Company Limited would allow for a degree of continuity as the company becomes established in its role, whilst also providing the board with strong experience and guidance, as well as local expertise. The Jersey Appointments Commission supports this appointment.

The Minister for Treasury and Resources is pleased and grateful that Mr. Boleat and Jurat Tibbo have both indicated that they wish their names to be put forward for appointment to the board of the States of Jersey Development Company Limited. The Minister is confident that their experience will serve the company well in the period following the company's formation.

In  accordance  with  the  States  of  Jersey  Development  Company  Limited's Memorandum and Articles of Association, these appointments must be made for a period of 3 years. It should be made clear, however, that it is anticipated that the interim appointment of Mr. Boleat as Chairman will run for a considerably shorter period. It is proposed that his appointment will be offered on a 9 month basis (this could be extended to 12 months if required), and should Mr. Boleat wish to apply for the role on a permanent basis at a future date, then he would be required to compete in an open recruitment campaign.

Financial and manpower implications

The cost of remuneration will be borne by the States of Jersey Development Company Limited and not by the States of Jersey. There are therefore no financial or manpower implications for the States.

Remuneration levels for the Chairman and Non-Executives of the States of Jersey Development  Company  Limited  are  set  out  in  the  main  Report  and  Proposition (P.32/2011).

APPENDIX

Mark Boleat (Interim Chairman)

Mark Boleat was born and went to school in Jersey. He graduated from Coventry University in 1970 with a first class BA honours degree in Economics. In 1971 he was awarded an MA in Contemporary European Studies by the University of Reading. He joined the Building Societies Association in 1974, holding a number of positions before being appointed Director General in 1986. He was also Director General of the Council of Mortgage Lenders when that organisation was created in 1989.

In  1993  he  joined  the  Association  of  British  Insurers,  the  largest  British  trade association, to become its first Director General. In 1999, Mark established Boleat Consulting,  a  consultancy  business  specialising  in  trade  association  strategy  and management and the handling of public policy issues. He has helped establish, merge and reorganise trade associations in a number of sectors. He has also undertaken projects for the World Bank on housing finance in Russia, Nigeria and Egypt, for the International  Finance  Corporation  on  Housing  Finance  in  Uganda  and  for  the Government of Jersey on consumer policy.

In addition to his consultancy work he has held a number of non-executive positions including  being  a  non-executive  director  of  the  property  development  company Countryside Properties and of Travelers Insurance Company, Scott ish Mutual and Abbey National Life.

His  current  portfolio  includes  Chairman  of  the  Jersey  Competition  Regulatory Authority,  the  Association  of  Labour  Providers, UK  Social  Data  Services,  Quant Capital Partners and Kingston Smith Association Management. He is also a member of the government's Regulatory Policy Committee.

Mark is a member of the Court of Common Council of the City of London where he is Deputy Chairman of the Policy and Resources Committee and a member of the Police, Planning and Transportation, Finance and Establishment Committees and the Property Investment Board.

Jurat John Tibbo (Non-Executive Director)

Jurat  John  Tibbo  was  born  in  Jersey  and  educated  at  Victoria  College.  He  is  a qualified banker, having worked for Midland Bank in Jersey for 37 years until his retirement at the end of 1996. During his career with Midland Bank he held a number of  senior  management  positions,  including  Area  Manager,  Jersey  and  Divisional Director, Offshore Islands.

Since 1995 Jurat Tibbo has served as a Non-Executive Director of the Waterfront Enterprise Board, a role in which he continues today. During this period he has also acted as Chairman of the Board.

Jurat Tibbo has in the past undertaken a number of other non-executive roles, which include serving as a Director of HSBC Middle East Ltd., a Director of Collins Stewart Fund Management Ltd., and the manager of Acorn Income Fund Ltd. He also served

as a Commissioner of the Jersey Financial Services Commission between 1998 and 2005.

As well as serving as a Jurat of the Royal Court, he was appointed as Lieutenant Bailiff in 2010.