Robert A Mathavious, OBE, LLD
Biography
Dr. Robert Anderson Mathavious held a Bachelor of Science degree in Economics (Hons.) from the University of the West Indies and a Master of Business Administration degree from Georgetown University in the United States of America.
He played a pivotal role in charting the course of the development of the Virgin Islands financial services industry since 1984. His career began as a civil servant, where he served as Economist/Statistician (1977-1980), Deputy Financial Secretary (1980-1985), Financial Secretary (1985-1991) and Director of Financial Services (1993-2001). During his tenure within the civil service, he became the Government’s principal negotiator and speechwriter on financial, financial services and budgetary matters. Dr. Mathavious retired from the Virgin Islands Civil Service in 2001 after an illustrious 24-year career.
In January 2002, he assumed the post of Managing Director/Chief Executive Officer of the British Virgin Islands Financial Services Commission (FSC), a position he held until 31st December 2020.
As Managing Director/Chief Executive Officer of the FSC, Dr. Mathavious had prime responsibility for establishing and maintaining a regulatory regime that was (and still is) fully compliant with universally agreed international standards. He was also responsible for the administration and operation of the FSC and the regulation of the Virgin Island’s financial services industry, the development of new services and product offerings aimed at developing and enhancing the attractiveness of the Virgin Islands as a situs for legitimate cross-border financial services, and liaising with Government and private sector stakeholders in pursuance of this objective.
Dr. Mathavious was the principal financial services negotiator for the Virgin Islands, developing in the process widespread acclaim for dealing with international initiatives. He was also a lead voice of the region on these issues.
Dr. Mathavious, a robust defender of International Financial Centres (“IFCs”), wrote extensively on the international financial services industry. His articles appeared in numerous industry trade journals and magazines. He spoke/presented at international and regional financial services workshops, particularly on regulatory and compliance issues, strategies for dealing with the international initiatives targeting international financial centres and anti-money laundering issues.
He provided advice to regional and other IFCs on strategies to keep IFCs from appearing on the OECD and FATF blacklists. Dr. Mathavious was selected to serve as Co-Chair representing NON-OECD countries of the AD Hoc Group on Accounts established under the OECD Global Tax Forum. He was also instrumental in the formation of the International Trade & Investment Organization (“ITIO”), a grouping of small offshore jurisdictions which united to counteract the OECD’s misguided Harmful Tax Competition Initiative and in the commissioning of the hallmark “Towards a Level Playing Field”, a report jointly issued by the ITIO and STEP as a critique and response to the OECD report.
Dr. Mathavious was the recipient of numerous distinguished honours during his lifetime, including:
- 2013 – Awarded the degree of Doctor of Laws, Honoris Causa by the University of the West Indies.
- 2020 – Appointed as an Officer of the Order of the British Empire (OBE) in Queen Elizabeth II’s Birthday Honours.
- 2021 – The H. Lavity Stoutt Community College (HLSCC) Board of Governors unanimously approved the renaming of the Financial Services Institute to the HLSCC Robert Mathavious Institute for Financial Services in recognition of his outstanding contributions.
- 2024 – Honoured with a Lifetime Achievement Award at the inaugural Virgin Islands Icon Awards for his exceptional service to the BVI financial services sector.
Robert A Mathavious, OBE, LLD
Service with Distinction
Throughout his career, Dr. Mathavious served the Virgin Islands with distinction. During his tenure at the FSC, he also shared his expertise as a lecturer in financial services at the H. Lavity Stoutt Community College, where he taught the course FSI-100: Introduction to Offshore Financial Centres for several years. On many occasions, he was appointed Acting Deputy Governor and, at times, Acting Governor of the Virgin Islands. His leadership extended across numerous boards, Government committees, task forces, and working groups, including:
- AML/CFT Coordinating Council
- Company Law Review Advisory Committee (Chairman)
- Council of Competent Authorities (Chairman)
- Disaster Fund Committee
- Financial Investigation Agency Board
- Financial Services Commission Board of Commissioners
- Financial Services Institute Administrative Committee (Chairman)
- Financial Services Institute Advisory Committee (Chairman)
- Integrity Commission
- Inter-governmental Committee on AML/CFT (Chairman)
- International Tax Authority Board
- Joint Anti-Money Laundering and Terrorist Financing Advisory Committee (Chairman)
- McKinsey's Financial Services Committee (Initiative #6) (Chairman)
- McKinsey's Immigration and Labour Committee (Initiative #2)
- National Risk Assessment Council
- Premier's Financial Services Task Force
- Prospect Reef Advisory Committee/Prospect Reef Resort Management Company Limited (Chairman)
- Steering Committee of BVI Forward
- Virgin Islands Recovery and Development Agency Board (Chairman)
Civics and Athletics
In addition to his professional achievements, Dr. Mathavious gave generously of his time and talents to the Virgin Islands community. He was actively involved with several philanthropic and civic organisations, including the Boys Club/Boys Brigade, the Methodist Church, and the Virgin Islands Festival and Fairs Committee.
Dr. Mathavious was also a celebrated athlete in his youth. A two-time Victor Ludorum at the BVI High School for Carlisle House 4, he was the first athlete to clear six feet in the high jump and the first to surpass twenty feet in the long jump, establishing milestones in Virgin Islands athletics.