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Press Release - BMA Welcomes New CEO And New Chairman Of The Board Of Directors

October 01, 2021

HAMILTON, BERMUDA – The Bermuda Monetary Authority (Authority or BMA) today welcomes Craig
Swan and Donald Scott as they step into their new roles as Chief Executive Officer (CEO) and Chairman of the
Board of Directors (Board), respectively.

Mr. Scott has held the position of Deputy Chair of the Authority’s Board since 2019. During this time, he has
served on several Board committees, including the Corporate Governance and Ethics Committee, Human Capital
Committee, Legislative and Policy Committee and Non-Executive Directors Committee. Prior to his appointment
to the Board, Mr. Scott’s 30-year career was Bermuda-focused, working in Government in the technical areas of
gross domestic product and national income compilation and also in the policy areas of economics, finance and
health.

Commenting on his transition into this new role as Chairman, Mr. Scott says, “For nearly three years, I had the
pleasure of serving as the Authority’s Deputy Chair, during which time I have had the benefit of working closely
with Executive Chairman Mr. Jeremy Cox, as well as the other highly skilled and deeply experienced Directors
on the BMA’s Board. I look forward to further fostering this collaboration with each of these Directors and the
wider BMA team as we continue to fulfil our mandate as Bermuda’s independent regulator of all financial
services.”

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