Juan Clarke has been appointed managing director of Scottish Widows in the Isle of Man during challenging times for the finance industry.
Mr Clarke, who was appointed to the boards of the CMI Group of Companies in March 2012, joined the company in 1991 when it traded as CMI.
It later became part of the Lloyds Banking Group and subsequently rebranded as Scottish Widows.
Mr Clarke, who joined CMI after nine years with Barclays Private Bank, said: ‘While at Barclays I forged a valuable working relationship with CMI colleagues running the CMI High Income Fund.
‘In 1991 I moved to CMI which had been operating for just four years to lead its flourishing fund administration function.
‘As the company continued to grow I was afforded a broad range of opportunities to develop my skills in a variety of disciplines and in management and leadership.’
One of only a few Fellows of the Chartered Institute for Securities and Investment in the island, Manx-born Mr Clarke said: ‘I am proud to have been entrusted by the Lloyds Banking Group with the task of heading the company in which I have spent the last 22 years.
‘I should also like to pay tribute to my predecessor, Nigel Rothery, who remains on the board and who was instrumental in steering the business in 2012.
‘These are really challenging times for the financial services industry. I am looking forward to continue working with a great bunch of colleagues at Scottish Widows in Victoria Road.
‘It’s a fantastic company to work for and I am pleased to be leading it.’