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BVI FSC Appoints New Deputy Managing Director

Friday, 28 July, 2023


On 1 July 2023, the BVI Financial Services Commission (the "Commission") welcomed Mr. Brodrick Penn as its new Deputy Managing Director of Operations.  

Mr. Penn possesses over 25 years of experience in the financial services industry, having worked with the Commission since its inception. Throughout his time with the Commission, he has played several critical roles, including contributing to the development of the BVI’s mutual funds regime and assisting in leading the charge toward the development and implementation of the securities and investment business regime. Previously, he held the titles of Director, Investment Business and Director, Enforcement. He has also served as Permanent Secretary with the Government of the Virgin Islands through a secondment arrangement where he played key roles in the materialisation of Territorial strategic initiatives such as the BVI’s McKinsey Report, Privatisation of BVI Finance, and BVI’s Recovery to Development Plan. 

I extend a warm welcome to Brodrick in his new capacity. He brings a solid understanding of the ethos, function, and workings of the Commission. The rest of my executive management team and I look forward to working with him as he leads the Commission’s development of a slew of innovative tools for better business intelligence, operations, and improved data management,” said Mr Kenneth Baker, Managing Director/CEO of the Commission.

As DMD Operations, Mr Penn will have oversight for the following Commission Division heads:

  1. Registry of Corporate Affairs
  2. Information Technology
  3. Creative Services
  4. Facilities
  5. Operations
  6. Business Services

Mr. Penn stated that he was “honoured to be appointed DMD Operations at a time when the Commission was activating transitory plans to significantly enhance its non-regulatory business functions.” He continued, “The Commission is at an important stage of its ongoing development, and I am pleased to be given the opportunity to lead its operational strategy, innovation, business intelligence and data management functions. The success of the Commission is critically dependent on maintaining robust and efficient operations; therefore, I look forward to helping further develop and streamline our operations and business model such that all our clients and stakeholders are served at the highest possible standard”.

The new DMD holds a Bachelor of Science in Finance and a Master of Laws (LLM) in AML, Compliance and Tax Planning.  

About Us
The BVI Financial Services Commission is the autonomous regulatory agency responsible for regulating and supervising financial services conducted in and from within the Territory. 

Any questions concerning this notice may be directed to:

BVI Financial Services Commission
18 Pasea Estate Road, Tortola VG1110
British Virgin Islands
Tel: (284) 494-4190
Fax: (284) 494-5016 

Posting Date:
Friday, 28 July, 2023