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Q&A with our new Political Member, Peter Greenhill, MLC

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At the height of COVID-19, Peter Greenhill, MLC, was appointed as Political Member to the Finance Isle of Man Agency. Mr Greenhill will offer the conscientious political support required to help the Agency deliver its services, and has already hit the ground running in the last several months. The Agency caught up with Mr Greenhill to explore his career to date, what motivated him to join the Agency and ask him what he thinks the future holds for the Isle of Man's financial services industry. 

Q1 Provide a brief summary of your career background

I am a qualified Banker and a successful hands on CEO/Managing Director with over 25 years of experience gained worldwide with some of the leading operators in the financial, eBusiness and eGaming marketplaces. I have extensive experience of leading multi-million pound commercial operations in the fields of technology and services provision. I operate effectively at Board level and have an impressive track record of delivering innovation and change to achieve bottom-line growth. I also specialise in Consultancy, Mentorship and Non-Executive Director services.

Q2 What motivated you to become a political member for the Finance Agency?

In January this year I saw that major opportunities could be created for the Isle of Man through Brexit, but that there would also be a number of threats to certain major areas of our economy. Although we had members in Tynwald Court with excellent skills and experience in many different areas, I felt that in such a rapidly changing international business environment, there was a significant gap that I could help to fill. When I first moved to the Island seven years ago, I worked for the Department for Enterprise as CEO of eBusiness and eGaming for nearly three years. My role was to help grow on-Island businesses, while attracting new businesses to the Isle of Man. Within days of my swearing in as an MLC we were entering lockdown for COVID-19 and we were entering into the worst recession world markets has ever seen.

With my recent government department experience, my international banking background and my connections with the Island’s banking, insurance, accountancy and corporate service supplier sectors, I felt that Finance would be an excellent Agency for me to represent. I am fully motivated to help the Island to implement a recovery plan following the pandemic, take full advantage of Brexit, and to show the world that this is the place to live and work.

Q3 What do you think the future holds for the Isle of Man financial services industry?

I certainly see different challenges and opportunities for each sub sector of the industry. Each of them have been affected differently by COVID-19, but in general they have weathered the initial winds of change without major storm damage. Some of the smaller companies in the industry have, however, been worse hit as their specific client bases have sometimes been more badly affected and government has tried to help them specifically. With the exception of companies that supply financial services, to the “Visit Economy”, I think that the vision of the future is already showing very encouraging signs. We are already seeing good growth in the number of companies and people who are looking to re-locate here which is very encouraging and the Finance Agency is launching a number of projects and initiatives to attract even more. I naturally hope, and do expect that the Visit Economy will see improvements within 12 months that will naturally have a positive effect on the financial services industry.

Q4 What is your favourite thing to do in the Isle of Man?

In addition to enjoying the very special scenery, culture and people-friendly benefits of the Island, my favourite “pastime” is refereeing football. This may sound strange, but having been refereeing for over 40 years around the world I really enjoy getting my physical exercise and the ability to close off in my mind everything related to work and concentrate on managing 22 players and their ardent and vociferous supporters for a few hours each week.

 

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