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BMA appoints financial services veteran as its next COO

21st March 2023 - Author: Jack Willard

The Bermuda Monetary Authority (BMA) has announced that it has appointed Toby Mason as the Authority’s next Chief Operating Officer (COO).

bermuda-monetary-authority-bma-logoIn the role, he will report to Deputy Chief Executive Officer, Shanna Lespere.

As COO, Mason will oversee BMA’s infrastructure, where he will support organisational growth and improving results and efficiency across the company.

Additionally, in his responsibility for operational strategic initiatives, Mason will also engage at the Board level while leading a variety of different capital projects that support both the Authority’s strategy and corporate objectives.

Overall, Mason brings more than 26 years of experience within the financial services towards his new role. Throughout his career he specialised in the banking and credit card market segments, including 15 years in C-Suite leadership positions at American Express, ClearBank and Allica Bank.

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During his time at Allica Bank, Mason served as COO for just over three years. He served in this role from September 2019 – December 2022.

In total, Mason spent just under 20 years of service at American Express. During his time with the company he held a number of different roles, including VP, Operations Strategy and Reengineering, VP, Consumer Technologies, Head of Global Cardmember Payments, and GM, Global Payments Services and System Assurance.

Mason’s depth of experience in operations, finance, information technology, accounting processes and business development has spanned multiple financial jurisdictions, including London, New York and Singapore, as well as a global portfolio of operational departments at large multi-national organisations.

“As Bermuda’s financial services industry continues to evolve against a backdrop of an increasingly complex global regulatory environment, technological transformation, sustainability and climate risk, and macroeconomic pressures, the BMA must simultaneously evolve—not only our regulatory regime and supervisory approach but also our operational processes, systems and strategy,” said Lespere.

“Mr Mason’s extensive multi-jurisdictional experience and financial services expertise will support our efforts during this critical juncture. I am pleased to welcome him to the BMA and look forward to the contribution he will make to the Authority and, more widely, Bermuda’s financial services sector.”

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