Finance Isle of Man, an executive agency within the department for enterprise, has appointed Sue Preskey as non-executive chair to its board.

Preskey, who is due to chair her first board meeting in December, will take up the role as Aidan Doherty steps down after holding the position for the last two years.

With more than 30 years of experience in the UK and international financial services as both a practitioner and a regulator, Preskey works as a managing director of local corporate service provider The Law Trust.

She has held senior roles across a range of financial services businesses including fiduciary, banking, investment, funds, and captive insurance.

In addition, she has previously chaired local branches of the London Institute of Banking and Finance and the Chartered Institute for Securities and Investment as well as a committee member of the Isle of Man Institute of Directors.

Peter Greenhill, a political member with responsibility for the Finance Isle of Man board, said: “I am very pleased with this appointment and look forward to working with Sue Preskey as our new agency chair. Preskey is a well-respected business leader and has a very good understanding of the key economic challenges and opportunities that we currently face as an Island.”

Greenhill noted: “I would also like to take this opportunity to thank our previous chair, Aidan Doherty, for his invaluable strategic leadership and guidance over the last two years and for helping us to focus on areas where we can make a real difference, including the jurisdictional promotion of the Isle of Man.”

Commenting on his departure, Doherty added: “As I step down as chair I am delighted to leave the agency board in the capable hands of Preskey, who brings with her a wealth of knowledge, experience and enthusiasm. The next 12 months will be a crucial time for Finance Isle of Man to deliver its ambitious goals and I wish Preskey and the agency all the best for the future.”