CISE poaches Guernsey Finance CEO

The Channel Islands Securities Exchange (CISE) has appointed a new chief executive following its rebrand from the Channel Islands Stock Exchange (CISX) after a period of scandal last year.

International Adviser

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Fiona Le Poidevin will leave her position as chief executive at Guernsey Finance in early 2015 to fill the role.

Le Poidevin joined Guernsey Finance as technical director and deputy chief executive in early 2011 and succeeded Peter Niven as chief executive in July 2012.

Guernsey Finance said its board had already started the process of recruiting her successor.

CISE chairmen, Jon Moulton, said: “Le Poidevin will be instrumental in helping us drive forward the new exchange so that not only is it fit for purpose but it has an offering which is attractive to clients and their advisers in the marketplace of today and tomorrow.”

Le Poidevin added: “It is vital that I leave Guernsey Finance in a strong position and ensure a smooth transition to my successor.”

CISE was formed last year as a rebrand of CISX, which had encountered long running public problems.

Guernsey’s regulator had run an 18 month long investigation into CISX, with the help of Moulton, which discovered “historic activities” which he said were “killing its business”.

The turmoil started to become public in September when founding chief executive Tamara Menteshvili resigned “to pursue other interests”.

In October, all of CISX’s listings were suspended before CISE bought its business in December and began a restructuring of the company.

In April, Guy Coltman, a corporate partner at Carey Olsen, was appointed as non-executive director, while Robert Christensen, managing director of Volaw, Paul Cutts managing director at Northern Trust, Guernsey, and Tim Herbert, a partner of Mourant Ozannes each resigned as board members.

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