The Gibraltar Financial Services Commission has announced that John Tattersall, the chairman of its board, has come to the end of his term after a tumultuous six years on the board, with the latter two years as chairman. Dr Jonathan Spencer has been appointed to succeed him.

Spencer has been a member of the GFSC since 2011 and has extensive experience in regulation. He says he is looking forward to the introduction and implementation of major new legislation to improve the work of the commission and to give the industry a more solid and certain basis on which to operate.

Spencer’s extensive experience in regulation goes back to 1991 where he served as Director of Insurance at the UK’s Department of Trade and Industry for five years. He subsequently sat on some boards at the DTI and the Department of Constitutional Affairs. He was made a Companion of the Order of the Bath in 2002.

Since leaving HM Government's service in 2005, he has sat on the board of the Solicitors' Regulation Authority and is currently the chairman of the Church of England Pensions Board, a director of Liberty Mutual Insurance Europe, the deputy chairman of East Kent Hospitals University Foundation Trust, and a member of the Administrative Justice and Tribunals Council.