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Gibraltar Finance to rebuild its Senior Executive team – 216/2023

By April 6, 2023 No Comments

The Ministry for Financial Services has confirmed that following on from the retirement of Mr James Tipping, further members of the senior executive team are also moving on. The Ministry has confirmed today that Michael Ashton, Senior Executive – Insurance & Pensions and Tim Haynes, Senior Executive – Private Clients & Funds at Gibraltar Finance will also be leaving their respective posts on 15th June 2023.

Michael Ashton has worked for Gibraltar Finance for ten years with specific responsibility for insurance and pensions. He has agreed to continue in an advisory role to the Ministry on specific insurance matters for up to a further year on an unremunerated basis to support the transition and provide HMGOG with the benefit of his expertise in these sectors.

Timothy Haynes has been based in the London Office for seven years with primary responsibility in the Funds, Private Clients and Family Offices. A significant part of this work has been via networking with specialist law firms, accountancy practices and regulatory consultancies and led to important changes in our legislation worked on with the private sector and the regulator. 

The Minister with responsibility for Financial Services, the Hon Albert Isola, said: “I have known Mike for over 20 years and Tim, a fellow Gibraltarian, since we were very young. I want to thank them both for their dedicated and consistent service to me, His Majesty’s Government of Gibraltar and the financial services industry as a whole.

“Mike Ashton has been an exceptional servant and has greatly contributed to the development and positive reputation of our insurance sector. The sector has grown enormously under his watch and his knowledge has been instrumental in developing the strategic thinking of Gibraltar Finance over this time. Mike’s calm and understanding character has enabled him to enjoy excellent relationships with the sector and regulator alike, which is a key plank of the Gibraltar offering. I am immensely proud of what we have achieved together these past 10 years.

“Tim Haynes has been an important member of the team from day one. Based in London he has used his network exhaustively for the benefit of the Jurisdiction and has leveraged this to the benefit of our sector. His support in driving legal change in this area were significant and important and I am deeply grateful to him for this great work.”

Michael Ashton said: “I have thoroughly enjoyed working for Gibraltar Finance. I never expected to stay in this role for 10 years, which is a truly positive reflection on Minister Isola, James Tipping and all his team, and in addition, Gibraltar’s insurance and pension practitioners and all the professionals who support our industry. We have worked well together to build something very special and with 30% of the UK motor market here, the record speaks for itself, despite all the challenges we have faced.”

Timothy Haynes said: “It has been a pleasure working with the Gibraltar Finance team from London where we have worked hard to connect firms with their UK counterparts to drive new opportunities and business. We have worked well together and introduced constructive change to our product suite for the benefit of all on the Rock. It has been a privilege to work representing our community and especially the professionals there.”