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Deveaux takes over at Securities Commission |
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Published: Sep 12, 2013
The Securities Commission of The Bahamas (SCB) announced yesterday that Hillary Deveaux has been appointed the interim executive director of the financial regulator, effective September 11, 2013. Deveaux succeeds Dave Smith as executive director of the commission. Smith held office March 1, 2012 to July 31, 2013, and left just over a year into his appointment following what Guardian Business understands to be some contention between himself and the SCB board. In a release issued yesterday, Bastian Galanis said: “Mr. Deveaux brings extensive experience in the capital markets, broad and deep knowledge of the securities industry, international contacts and exposure and a passion for the development of the securities and broader financial services sector in The Bahamas.” “I am pleased with the appointment of Mr. Deveaux to the interim executive director position and wish him every succes,” she added. Deveaux returns to the commission after serving as the capital markets development advisor to the International Monetary Fund’s Caribbean Regional Technical Assistance Centre (CARTAC). Prior to taking up his position with CARTAC, Deveaux served with the commission for 13 years, including holding the post of executive director from December 2002 to August 2010. Deveaux has also served as general manager of the Bahamas Agricultural and Industrial Corporation (BAIC) and held various positions internationally, including money market manager at Chemical International Finance Ltd., New York, and project officer for the Caribbean Development Bank in Barbados. He has also served as the chairman of the Free Trade Area of the Americas Negotiating Group in Services, and was a member of The Bahamas Trade Commission. Deveaux holds a Bachelor of Science degree in Economics from Iowa State University, a Master of Science degree in Economics from the London School of Economics and a diploma in Development Studies from Cambridge University. Bastian Galanis congratulated the staff of the commission who worked to ensure there was no interruption in service to registrants and stakeholders in the period leading to the interim appointment.
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