The Bermuda Monetary Authority is creating a new position of deputy chief executive officer as it prepares for the departure of Jeremy Cox, its executive chairman.

The role is positioned as CEO “designate”, with the expectation that the appointee will succeed to the role of CEO in January 2022, subject to various approvals.

The deputy CEO will report to Mr Cox, and work in partnership with him.

Mr Cox has headed the BMA for nine years and began a three-year term as executive chairman at the start of this year, which combined his previous role as chief executive officer.

Advertisements for the deputy CEO role have now been published, listing required skills and experience for the position.