Beautiful Virgin Islands

Tuesday, Jun 24, 2025

Mrs Jennifer Potter-Questelles tipped to replace Dr Mathavious @ FSC

Mrs Jennifer Potter-Questelles tipped to replace Dr Mathavious @ FSC

Word reaching our news centre from highly placed sources on the BVI Financial Services Commission (FSC) Board of Directors, is that the Deputy Managing Director of Corporate Services, Mrs Jennifer Potter-Questelles, was recommended by the Board to replace retiring FSC pioneer Dr Robert A. Mathavious.

Following the announcement in June of this year that Dr Mathavious, the first Managing Director and Chief Executive Officer of FSC, was retiring the post was advertised.

Interviews were held and our sources confirmed that Mrs Potter-Questelles was the one selected by the Board. It is unclear what method was used in her selection.


From left: Attorney at Law Lisa Penn-Lettsome, a former Deputy Director of FSC and now Executive Director of International Business; Kenneth Baker, who is the Deputy Managing Director, Regulation and the Director of the Banking, Insolvency and Fiduciary Services Division; and Ayana I. Glasgow, a former Deputy Director Banking and Fiduciary Services at FSC, all reportedly applied for the position of Managing Director and CEO of FSC.


Is she qualified?


She joined the Financial Services Department in 2001 from the private sector. In addition, Mrs Potter-Questelles was appointed Deputy Managing Director of Corporate Services in April 2005.

According to her professional qualifications listed on the FSC website, she holds a Masters of Law, , Masters of Business Administration (Finance), and a Bachelors of Science (Information Systems), .

Mrs Potter-Questelles came to public attention when in 2016 she was appointed Chairwoman of the BVI Ports Authority (BVIPA) Board of Directors under the National Democratic Party (NDP) regime.

She was there at a time (some of it inherited) when the BVIPA faced many financial management scandals, and the ousting of its Managing Director Claude O. Skelton-Cline. Mrs Potter-Questelles, at the time in 2016, replaced J. Edward de Castro as Board Chair.


Dr Robert A. Mathavious, the first Managing Director and Chief Executive Officer of BVI Financial Services Commission (FSC) announced his retirement in June of this year.


Financial scandal over project


Months after she took up her Chairwoman's post, the scandals surrounding the BVIPA over its multi-million dollars Cruise Pier Development Project had intensified. Two reports, one from the Auditor General Mrs Sonia M. Webster and the other by the House of Assembly’s Public Accounts Committee, chaired by the now late Leader of the Opposition Hon Ralph T. O’Neal OBE, had put the project into question.

The two reports on the Ports Development Project unearthed corruption, conflict of interest, disregard for the laws of the Virgin Islands, unfair practices, undue influence in favour of one developer, disregard for the established tendering process and that no one was looking out for the interest of the people and taxpayers of the Virgin Islands, putting the people at a disadvantage.

How was her tenure at the Ports?


During the scandal, a former Project Manager, Mr Huge E. Darley, confirmed the two reports and even told our newsroom at the time that he felt sorry for taxpayers when he heard the cost of the project, which the public was told would cost $45 million; however, then Communications and Works Minister Mark H. Vanterpool (R4) told the Parliament the price tag was a whopping $82.9 million. The project ended up with a $50M overrun.

One of Mrs Potter-Questelles’ first duties at the time as the new Chairwoman was to recruit a new Managing Director, after the NDP failed to renew Skelton-Cline's contract following, according to him, a promise made following the NDP victory at the polls in 2015.

Serious competition


It is our newsroom's understanding that Mrs Potter-Questelles beat out some heavyweights who had also applied for the top post at FSC, including Kenneth Baker, Deputy Managing Director, Regulation; Attorney at Law Lisa Penn-Lettsome, a former Deputy Director of FSC and now Executive Director of International Business; and Ayana I. Glasgow, a former Deputy Director of Banking and Fiduciary Services at FSC.

The former Mrs Glasgow-Liburd is now Executive Director/Resident Manager of Aleman, Cordero, Galindo & Lee Trust (BVI) Limited.

Meanwhile, our newsroom attempted to solicit comments from Chairman of the FSC, Mr Robin F. Gaul; however, we were told Mr Gaul does not give out his phone number to the media.

In December 2001, the Virgin Islands Party Government passed the Financial Services Commission Act, 2001, which established the British Virgin Islands Financial Services Commission as an autonomous regulatory authority responsible for the regulation, supervision, and inspection of all financial services in and from within the VI.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
×