BMA Appoints Craig Swan as Deputy CEO

Craig Swan was recently appointed as deputy CEO of the Bermuda Monetary Authority (BMA). His tenure was effective on January 1, 2020. The appointment is part of the BMA's succession planning objective as the BMA prepares for Executive Chairman Jeremy Cox's departure in 2021.

The deputy CEO position encompasses several responsibilities. Mr. Swan will be tasked with overseeing the BMA's supervisory activities of banks, insurance, trust companies, digital assets, and investment businesses.

His duties will also include assisting in the BMA's ongoing planning and development as well as sharing in the BMA's executive management and participating in key external initiatives or meetings with government and industry stakeholders, both domestically and internationally.

Mr. Swan has been with the BMA since 2006, serving in several key positions encompassing insurance, policy, and risk with responsibility for regulatory standard setting and insurance regulatory discourse.

He previously was controller and vice president, strategic information services for Arthur J. Gallagher Bermuda.

Bermuda, the world's largest captive domicile with 711 captives at the end of 2018, licensed 19 new captives in 2018 with comparable growth also experienced in 2019.

Photo of Craig Swan courtesy of BMA.