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The Government is set to merge the teams that support the development and regulation of financial services in a bid to improve efficiency.
The internal restructure within the Economy Department is due to bring the Financial Services and the Financial Crime Strategy teams together under the leadership of Helen De La Cour, as the newly-appointed Director of Financial and Professional Services.
The process of the restructure is ongoing, and the Financial and Professional Services Directorate will be formally launched once the changes are completed.
Financial Services and External Relations Minister Ian Gorst said: "These changes are designed to continue our focus on protecting the financial services industry along with a renewed focus on competitiveness and innovation.
"We continue to devote the same resource to supporting financial services, but this change allows us to use resources most efficiently."
Pictured: Deputy Ian Gorst is the Minister for Financial Services and External Relations.
The restructure follows a successful evaluation of the local finance industry's efforts to align with international standards for anti-money laundering and countering the financing of terrorism in July.
The Moneyval report, carried out by the Council of Europe's anti-money laundering body over two years, commended Jersey for strengthening its legal and regulatory framework to combat money laundering, terrorism financing, and proliferation — and found its anti-financial crime measures to be in good health.
As part of the transition, George Pearmain will leave his four-year role as Director of Financial Crime Strategy and Head of Delegation to MONEYVAL.
Deputy Gorst said: "George's departure marks more than a decade of public service to Jersey around financial services and financial crime strategy, and I thank him for all his work.
"Moneyval concluded that Jersey's effectiveness in preventing financial crime was among the highest level found among any jurisdiction.
"That evaluation was in no small part down to George."
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