BMA pays tribute to Sir David Gibbons

The Bermuda Monetary Authority (the Authority) today paid tribute to Sir David Gibbons, chairman of the Authority’s Board of Directors from 1984 to 1986, who passed away on 30th March, 2014.

In recognition of Sir David’s outstanding contribution, both to the Authority and to Bermuda as a whole, Authority Chief Executive Officer, Jeremy Cox, recalled the foundational work of a man who “knew business and understood Bermuda”.

“From what I have been told, there was nothing passive about Sir David’s chairmanship,” said Mr. Cox.

“It was clear to me from my own conversations with him that he was a global thinker who knew what made our economy tick, who appreciated that it was heavily influenced by markets overseas and who recognised Bermuda’s exceptional potential as an international financial services centre.” Ms. Marcia Woolridge-Allwood, Director, Banking, Trust, Corporate Services & Investment at the Authority, clearly remembers her encounters with the former Chairman during his tenure at the Authority.

“Sir David used to arrive at the office at exactly 8 a.m. every morning,” she recalled. “As managers, you had a daily meeting with him to discuss issues requiring a decision by him. Your audience was a max of ten minutes so you learned early on to be concise and to the point so that you got the decision you needed before you left the room!” Mr. Cox described Sir David as “a visionary leader”.

“There is no doubt that he helped to create the Authority that we have today and in doing so he shaped Bermuda’s financial services sector,” he said. “He was an iconic figure who made an enormous contribution to our country.”