The Guernsey Financial Services Commission has announced that Nik van Leuven, who currently serves as Her Majesty's Procureur, or Attorney General, is to become the next director general of the Commission.
He will take up appointment when Peter Neville retires on 1 June 2009.
Peter Harwood, chairman of the Commission, says: 'Having concluded an extensive recruitment search for a replacement for Peter Neville as director general of the Guernsey Financial Services Commission, we were delighted when Nik van Leuven accepted our invitation to become the next director general.
'Nik has extensive practical knowledge and experience of the financial services sector in Guernsey. He has also worked closely with our present Director General and other colleagues in dealing with Government and International bodies. I feel sure that Nik's background and experience will usefully complement the regulatory expertise of the other executive members of the Commission.
'We owe a great debt of gratitude to Peter Neville for agreeing to continue in office beyond his scheduled retirement date in order to assist in the transition with the appointment of his successor.'
Neville says: 'Nik and I have worked together for several years in our respective positions, and he knows Guernsey, the financial services industry, the Commission and Guernsey's government very well. Initially I came to Guernsey in 2001 for just five years and my contract has been extended twice since then. As most people know, I had been planning for a year or more to retire at the end of March this year, but I am very happy to stay for the extra two months to ensure a smooth handover. These are interesting and challenging times and I am pleased that someone with such experience is taking over.'
Van Leuven (pictured) adds: 'I was honoured to be asked to join the Commission as director general, especially during these difficult times in which global financial services and markets are so stressed, and the nature and extent of their regulation are under review. I look forward to the challenges my appointment will bring, and to working with colleagues at the Commission to serve Guernsey effectively"