The Guernsey Financial Services Commission has announced a series of senior leadership changes, effective January 2026, to support the implementation of new banking resolution legislation and enhance technological innovation.
These changes aim to strengthen the Bailiwick’s alignment with evolving international regulatory standards.
With effect from January 2026, Dr Jeremy Quick (pictured) will move from being Director of Banking and Insurance to being the part-time Director of Resolution following the passage of the Bank Resolution (Bailiwick of Guernsey) Law, 2025 through the States of Guernsey in the Spring. Jeremy will work to ensure a proper and economical implementation of the legislation over the next three years, ensuring that the Bailiwick continues to comply with near universally accepted international standards for banking regulation. Jeremy will continue to represent the Bailiwick and twenty other small island jurisdictions on the Executive Committee of the International Association of Insurance Supervisors through 2026.
Director General, William Mason, commented: “I would like to thank Jeremy for eighteen years often intense and invariably skilled work at the Commission. The Bailiwick has him to thank for a significant number of crises avoided and evaded. He has ever been the servant of the jurisdiction’s financial stability as well as inculcating innovative policies such as the Green Insurance capital standards. I look forward to his continuing to help the Bailiwick through establishing a proportionate banking resolution regime which will comply with international standards whilst being conscious of the costs to the banks.”
Martin McHugh is promoted to Director of Banking and Insurance Supervision. Martin, a Scottish Chartered Accountant who relocated to Guernsey 12 years ago has considerable experience of prudential supervision from his time at the Bermuda Monetary Authority and has co-led a number of innovative policy developments in his previous roles at the Commission where he has been the full time lead on policy development across the banking, insurance, fiduciary, investment and pensions sectors at different times.
Nick Herquin, who was part of the small Bailiwick leadership team for the successful MONEYVAL inspection, is promoted to Director of Investment, Fiduciary and Pension Supervision. Nick who started his career in investment supervision and has had extensive widespread experience in his 23 years in the Commission, will continue to undertake MONEYVAL/FATF inspection work to ensure that the Commission remains abreast of evolving international expectations in that space.
Gillian Browning, Deputy Director General, (Policy and Supervision) will, going forwards, inter alia, lead the Commission’s policy development programme, including the new policies being co-developed with both industry and the legal community under the Digital Finance Initiative to ensure the Bailiwick is well equipped to meet the challenges of the new AI and blockchain enabled era we have entered. In this work she will be supported by Jon Tooley and Lisa Peterson, who also remains the Commission’s Chief Actuary.
Dr Conor Osborough, previously one of the Deputy Directors running technology focused projects is promoted to Director of Technology. Conor, an outstanding international level sports scientist and academic, has shown a consistent ability to deliver challenging technology projects at the Commission, on time, on spec and on budget. In his new role, he will champion the Commission’s internal optimisation of technology to increase efficiency and effectiveness. His promotion to director level, is indicative of the increasing focus the Commission is continuing to put on technological excellence internally and in industry, in order to ensure the Bailiwick’s long-term competitiveness.
Alice Joy, the Commission Secretary, has had her title amended to Director of External Affairs. This title better reflects Alice’s role in the Commission’s leadership team. She will also be absorbing Nick Herquin’s current duties as Head of International Co-operation and Economic Enhancement. The changes in her role underline the Commission’s ongoing interest in enabling the Bailiwick’s economy to enjoy high quality growth.
