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STATES OF JERSEY
JERSEY COMPETITION REGULATORY AUTHORITY: APPOINTMENT OF NON-EXECUTIVE DIRECTOR
Presented to the States on 9th February 2017 by the Chief Minister
STATES GREFFE
2017 R.15 (re-issue)
REPORT
Background
Under Article 3(3) of the Competition Regulatory Authority (Jersey) Law 2001, the Assistant Chief Minister is required to notify the States of appointments of members of the Jersey Competition Regulatory Authority ("JCRA").
Two vacancies have arisen on the board of the JCRA. The first has arisen due to the resignation of Ms. Regina Finn's term on 15th July 2016. Ms. Finn served on the Board for 3 years and resigned due to an increase in other business commitments. The second vacancy has arisen following the creation of a new Non-Executive Directorship, reflecting the likely workload of the JCRA and the Guernsey Competition and Regulatory Authority ("GCRA") (together acting as the Channel Islands Competition and Regulatory Authority ("CICRA")).
Appointment process
In the light of Ms. Finn's departure, the Board reviewed its composition, skills and experience. Recognising comments made by stakeholders to Oxera's "Review of the Jersey Regulatory and Competition Framework" it identified, in particular, the need to reinforce the level of local business knowledge at non-executive level.
A recruitment Panel was selected, comprising Mr. Michael O'Higgins (Chairman of the JCRA and GCRA), Dr. Philip Marsden (non-executive member of the JCRA and GCRA), and Mr. David Evans (an independent Panel member/member of the Jersey Gambling Commission). Ms. Louise Read (Director of the JCRA and GCRA) was present at the interviews as a non-voting member of the Panel. The process itself was resourced by CICRA; external recruitment consultants were not engaged. The process was audited by Prof. Ed Sallis (Jersey Appointments Commission).
The recruitment process, which started in August 2016, was signed off by the Jersey Appointments Commission. It commenced with adverts placed locally in the Jersey Evening Post and in the Guernsey Press. By the closing date, 28 applications had been received. Applications were made subject to a shortlisting process, undertaken by the recruitment Panel. Five candidates were shortlisted for interview, of which 4 were deemed appointable (for 2 vacancies).
Recommendation of Mr. Peter Neville
The recommended candidate for the first vacancy is Mr. Peter Neville. A copy of his CV is included below for information. Mr. Neville has extensive experience of competition and regulatory policy, having previously served as the Director General of the Guernsey Financial Services Commission from 2001 to 2009 and as a Non- Executive Director and Chairman of the Audit and Risk Committee of CICRA between 2012 and 2014. Mr. Neville has Board-level experience with a number of other institutions, including Kleinwort Benson and John Laing Environmental Assets Group, where he acts as Non-Executive Director (and in the case of the latter as Chairman of the Risk Committee).
The commencement date of the contract will be 7th February 2017. The term will be 3 years, to expire on 6th February 2020.
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Resource implications
The Chief Minister's Department provides the JCRA with an Annual Grant to administer the Competition Law (£300,000 in 2016). The fees payable to Non- Executive Directors of the Authority are sourced from the Annual Grant.
There are no other financial or manpower implications for the States.
_____________________________________________________________________ Re-issue Note
This Report is re-issued because the Chief Minister's Department did not provide the correct version of the attached CV to the States Greffe when the relevant Ministerial Decision was signed.
R.15/2017 (re-issue)
APPENDIX
CURRICULUM VITAE:
MR. PETER NEVILLE, M.A. (Oxon.), F.C.A., D.F.I.A.I.S.
Mr. Peter Neville, a resident of Guernsey, has more than 36 years' experience in the financial services and financial services regulatory sectors in the UK and overseas, including serving as the Director-General of the Guernsey Financial Services Commission from 2001 until 2009. He currently holds a number of non-executive appointments, including as a Director and Chairman of the Risk Committee at John Laing Environmental Assets Group Limited, a London listed fund which invests in environmental infrastructure projects, and as a Director of both Kleinwort Benson (Channel Islands) Limited, the Guernsey-based bank, and its holding company.
Mr. Neville's boardroom experience has included acting as a Non-Executive Director of Mytrah Energy Limited, and as a member of the Board and Chairman of the Audit and Risk Committee of the Channel Islands Competition and Regulatory Authorities ("CICRA") from April 2012 to February 2014. He has worked in merchant banking and corporate finance in the UK and the Far East, mainly with various bodies within the HSBC group. He was involved in establishing the Investment Management Regulatory Organisation in the UK and, as the first Director of Investment Services at Malta's financial services regulator, he established the Maltese regulatory regime for funds and investment management firms.
Mr. Neville read law at Oxford University and is a Fellow of the Institute of Chartered Accountants in England and Wales and a Distinguished Fellow of the International Association of Insurance Supervisors.