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Derek Howatt Announces Retirement Date







                                      Structure and Capacity of Treasury



Derek Howatt has announced that he will be retiring as Financial Secretary for FIG in July next year after 32 years service.


A revised staffing structure for the Treasury was approved at the meeting of Executive Council on 22 November 2007.  This will increase higher level qualified accountancy posts, and leave more room for career progression.  This includes merging the positions of Financial Secretary and Treasurer (otherwise known as Deputy Financial Secretary). 


The present Treasurer, Keith Padgett, is to be offered appointment to a revised post of Financial Secretary.


Derek commented:   “My stewardship of the public finances has been greatly assisted by the efforts of the willing and efficient staff that have accompanied me over the years and I am very grateful for their support.  After presenting 17 budgets it is now time to pass on the leadership of the Treasury to a worthy successor and I have every confidence that Keith will rise to the challenge.”


Councillor Mike Summers, summing up Derek’s considerable contribution, said: “Having worked closely with Derek and his various teams for 10 of his 17 budgets, we have been able to rely completely in his high standards of care and probity. His careful evaluation of investment and spending has ensured continued economic growth and fiscal security through some eventful times.  Derek’s personal contribution to good governance has been very substantial, and he should be very proud of his contribution to the public service”




23 November 2007


Further information:  Derek Howatt - tel 27143

                                   Mike Summers – tel 27451

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