Rama Sithanen Appointed President of FSC

It has been officially confirmed that Rama Sithanen, Governor of the Bank of Mauritius, has been appointed as the new Chairman of the Financial Services Commission (FSC), the regulatory body for the non-banking financial sector. He takes over from Harvesh Seegolam, who departed following the change of government.

The appointment of Rama Sithanen as FSC President follows a well-established practice where the Governor or First Deputy Governor is typically favored for the role.

In this instance, the Governor has been chosen for the position.

Notably, Rama Sithanen does not come from outside the institution, given his extensive expertise in financial services, particularly in global business, spanning over three decades.

He has been personally involved in the launch of offshore services in the 1990s.

Considered a specialist in this sector, Rama Sithanen has been regularly sought out in Mauritius and abroad to share his insights.

In 2011, he served as President and Director of International Financial Services, a prominent player in global business.

Following the acquisition of Sanne Group in 2016, he was appointed Chairman, and in 2023, he took over as President of Apex Group after it acquired Sanne Group.

The appointment will be followed by those of board members and Chief Executive Officer. It is expected that all these positions will be filled shortly.

Source: l’Express