PRESS RELEASE – The Monetary Council has appointed Mr Timothy Antoine as Governor of the Eastern Caribbean Central Bank (ECCB).

Mr Antoine, a Grenadian national, succeeds Sir K Dwight Venner who retired on 30 November, 2015.

He is the holder of a BSc degree in Economics with Management from the University of the West Indies and a MSc in Social Policy and Planning from the London School of Economics.

The appointment of Mr Antoine followed a process that included identification of suitable candidates by a Search Committee led by Sir Errol Allen, interviewing of these candidates and the submission of recommendations of the Search Committee to the Monetary Council.

The Monetary Council, the highest decision making body of the ECCB, interviewed the two top ranked candidates before making its decision.

The Monetary Council expresses its appreciation of the Search Committee for its service and thanks all the candidates who were considered.

In welcoming Mr Antoine, Mr Victor Banks, Chief Minister of Anguilla and Chairman of the Monetary Council, noted that “Mr Antoine is an outstanding Caribbean professional with a clear vision for the ECCB and demonstrated commitment to the development of the Eastern Caribbean Currency Union.”

Mr Antoine brings to his new position, senior managerial experience, having served as Grenada’s Permanent Secretary in the Ministry of Finance for fourteen (14) years. He also has significant regulatory experience as a member of the ECCB Board for twelve years and as Chairman of the Grenada Authority for the Regulation of Financial Institutions for the past seven years. Mr Antoine is also the Chairman of the Technical Core Committee on Insurance for the ECCU.

The new Governor has served as Director on several regional boards including the Caribbean Development Bank and the Caribbean Catastrophe Risk Insurance Facility. He also served as Advisor to the Executive Director for Canada, Ireland and the Caribbean at the World Bank Group from 2005-2007.

Mr Antoine will officially assume office on 1 February, 2016.