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New Director of Isle of Man Finance Appointed 14 September 2007

Isle of Man Finance today announces the appointment of John Spellman as Director and Head of Isle of Man Finance (IOMF). Isle of Man Finance is the division of the Treasury with responsibility for promotion and development of the financial services sector of the Isle of Man economy.

John has joined the Isle of Man Government on a two year contract with a core brief to review the strategy and operations of Isle of Man Finance going forward.

A qualified accountant and banker by training, in the first 15 years of his finance career, John built his international experience in banking, fund management and accountancy, specialising in various parts of the offshore industry, before moving to Bristol in 2002. He has wide experience liaising with both UK and overseas regulators. John was formerly Managing Director of HBOS Financial Services, an operating division of Halifax Bank of Scotland. He returns to the Isle of Man after five years in the UK, where he holds a number of directorships.

Commenting on his new role John Spellman said:

“I am delighted to have this opportunity to work within the Isle of Man Government at what is an exciting time for the Island as it consolidates its position as one of the world’s leading international finance centres. A key focus going forward is to ensure that we have the right strategy and structures in place to continue to take our place at the forefront of the international finance arena. I look forward to working with the team at Isle of Man Finance and Isle of Man Treasury to achieve these goals”.

Treasury Minister, Hon. Allan Bell MHK said:

“John’s international background, as well as his breadth of financial and regulatory expertise, puts him in an excellent position to undertake this important role. I am confident that under John’s Directorship, Isle of Man Finance will go from strength to strength”.

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