fp Turks and Caicos

Government has announced that the new CEO for the National Insurance Board will be Colin Heartwell, who was selected by the NIB board more than a month ago.

“I am very pleased that it has been possible to recruit someone of Mr. Heartwell’s calibre to lead the management team of the National Insurance Board,” said His Excellency the Gov. Gordon Wetherell. “This is a role that comes with very significant responsibilities to ensure the prudent and efficient management and growth of the TCI’s National Insurance Board’s fund.

“It is in the interests of all TCI islanders that the CEO of the NIB should be someone with a particularly strong investment background and broad experience of leadership in senior executive positions.”

Heartwell will take up his post at the end of August, replacing Trevor Cooke, whose contract was not renewed.

“I have worked with Mr. Heartwell during my chairmanship of the Board of Directors of TCInvest,” said Ervine Quelch, chairman of the NIB. “I enjoyed that working relationship and have the greatest of respect for his work ethic. I look forward to welcoming and working with Mr. Heartwell again.”

The government said Heartwell is a senior executive with two decades of business management experience in various areas of economic development. He has been a director general of the Canadian government’s Western Economic Diversification Canada, overseeing an investment portfolio of more than $350 million.

Heartwell was the first CEO of TCInvest, attracting significant foreign direct investment to the country. He also was CEO of the Montserrat Development Corporation as it developed its $450 million new town project.

“Mr. Heartwell has underlined his commitment to share his expertise, support and enable the development of local talent,” the government said in a press release announcing the appointment. “The governor has stipulated that the training and development of NIB staff should be a top priority for Mr. Heartwell over the next three years.”

The People’s Democratic Movement has voiced objections to Heartwell’s appointment because he is not a Turks and Caicos Islander.

“The issue of whether or not the NIB director is also a Turks and Caicos Islander is not up for debate,” the PDM said in a July 6 statement. “Any new director who does not fit this mandatory prerequisite will not be well received by the people of the Turks and Caicos Islands.”

The governor said the NIB ordinance doesn’t require the director to be an islander.

A selection panel chose the most qualified person from among 31 candidates, he said. Only two had addresses in the TCI, and two did not say where they were from in their curriculum vitae.

The panel that made the decision consisted of the NIB’s deputy chairman, actuary and human resources consultant, and a representative from the governor’s office, the governor said.

Heartwell will also hold a seat on the National Health Insurance Board.