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JFSC head stands down over health concerns

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THE head of Jersey’s financial services regulator has stood down with immediate effect for health reasons, citing a ‘risk of burnout’ as the reason for his decision.

John Harris has been director-general of the Jersey Financial Services Commission since 2006

John Harris, the director-general of the Jersey Financial Services Commission, is to leave after 12 years in the role. He has taken two periods of medical absence this year to manage stress-related concerns, a statement announcing his departure said.

According to the statement released by the regulator, the organisation’s board of commissioners ‘has accepted and fully understands’ Mr Harris’s decision to stand down with immediate effect.

It adds: ‘Appointed in 2006, John has led the organisation during a highly challenging and, in many ways, turbulent era for the Island’s financial services industry, embracing the global financial crisis of 2007/8 and its problematic aftermath, as well as overseeing a major internal programme of change and modernisation over the past four years.’

Mr Harris said that it had been a ‘huge privilege’ to serve the JFSC, which is celebrating its 20th anniversary this year.

‘For me the role has been uniquely rewarding but also immensely challenging, at times exacting a heavy toll. These past few months in particular have forced me to take stock and prioritise my welfare in order to return to professional life in due course.

‘I pay tribute to the chairman, deputy chairman, commissioners and all the staff at the JFSC for their support.’

External Relations Minister Ian Gorst said that Mr Harris’s service to the Island’s financial services industry has been ‘exemplary’.

‘It has been a pleasure to work alongside him on a number of pivotal moments in shaping, protecting and enhancing Jersey’s reputation as an international finance centre. I wish him all the best for the future,’ he said.

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The JFSC’s chairman Lord Eatwell said that Mr Harris had played a ‘valuable role in guiding the organisation in a positive direction’.

‘We thank John for his contribution to the JFSC and Jersey over his 12 years of service as director-general and understand the reasons for his retirement,’ he said.

‘His expertise, financial acumen and dedication have benefited our people, our stakeholders and the Island.

‘My fellow commissioners and I wish him all the best for the future.’

Ian Heath

By Ian Heath
author

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