New chairman takes over at Bermuda Monetary Authority

The Bermuda Monetary Authority has a new executive chairman following the retirement of Gerald Simons, who will be replaced by the current chief executive of the central bank, Jeremy Cox.

The Bermuda Monetary Authority has an unconventional governance structure among central banks. It is governed by a board of directors, which is made up of no more than two executive members, and nine non-executive members.

The board is governed by the chairman; when the chairman is an executive member, they