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Isle of Man appoints director of financial services

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The Isle of Man’s Department of Economic Development has appointed John Spellman as director of financial services with immediate effect.

Colin Kniveton, chief executive officer of the Isle of Man’s Department of Economic Development, says: “John has worked with the department for a number of years in a special advisor role and going forward he will work with an increased focus on the finance sector to drive its development. He has wide experience across many financial services sub sectors and disciplines and latterly has worked with the Isle of Man Government on generating strategic opportunity for the industry.”
Spellman has led several large financial services organisations in the UK and more recently has developed a number of successful businesses offshore. He is a qualified banker and accountant and has managed a leading UK life company. He also formerly held the position of head of Isle of Man finance in the Treasury where he was responsible for promotion and development of the financial services sector.

Spellman says: “My ambition is to meet the future head on by focusing on promotional opportunities, helping to shape a competitive regulative and legislative environment, and working across government and regulators to create the right business opportunities for the Isle of Man. The department will nurture the inherent entrepreneurial spirit and assist in creating the new business needed in a post Euro crisis world.”

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