Previous CEO Rupert Pleasant resigned last month after allegations and claims of a data breach. The promotional agency, which is jointly funded by the taxpayer and the financial services industry, set up an independent investigation into the events.
Barnaby Molloy, who has a marketing background rather than one in financial services, has been with the organisation for more than nine years, the past four as deputy chief executive.
He stepped up as acting CEO for the past three weeks.
It has been a time of rapid developments at Guernsey Finance.
The agency also lost communications director Rosie Allsopp and after concerns were raised about the make-up of its board, two new appointments have just been made.
Nevertheless, Mr Molloy said he was pleased to take up the role.
‘Guernsey Finance plays a vital role in promoting and connecting our industry, which is respected around the world, and my focus will be on continuing to build on the strong foundations already in place, working closely with our members and partners to strengthen the island’s global profile and support long-term, sustainable growth.’
Agency chairman Paul Sykes said that Mr Molloy had played a central role in leadership at Guernsey Finance in recent years.
‘His proven track record of delivery means that, at an important time for the organisation, his appointment brings both a fresh approach and continuity, ensuring a stable platform for the next phase of our work and economic growth,’ he said.
Jo Peacegood, a non-executive director on the Guernsey Finance board and chairwoman of the Guernsey International Business Association, added: ‘Barnaby is a well-respected figure within the sector and has built strong, positive relationships with industry leaders and senior stakeholders.
‘He brings valuable experience and sound judgement, and his appointment provides consistency for our stakeholders and partners, while also coming at an important time for the finance sector with respect to the future strategic direction, and considering how Guernsey Finance can assist in delivering those strategic priorities.’
The Committee for Economic Development has also signed off on Mr Molloy’s appointment.
Asked about the progress of the independent investigation yesterday, Guernsey Finance declined to comment.
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