CEO of Citizenship By Investment Unit, appointed

Antigua St. John’s – During Parliament yesterday, Prime Minister Baldwin Spencer announced Canadian Don Myatt appointed as Chief Executive Officer of the Citizenship by Investment Unit (CIU).

 

“He has accepted the offer to head the unit for a period of one year with the option to renew for a further year,” the PM said yesterday in the House of Representatives.

 

According to the PM, Myatt has more than 38 years experience working with the foreign service in Canada and would bring a wealth of experience. The prime minister said Myatt’s credibility is recognised by the UK, Canada and the US. Myatt will report to the Prime Minister’s Office, and the PM will be required to submit a report on the progress of the CIU to Parliament every six months.

 

“The expectation is that there will be full disclosure of pertinent information, including the number of applications, the respective investments made, disbursement of investment funds, number of persons who have qualified for citizenship, balance of funds in the investment account and any other relevant information,” Spencer said.

 

The PM said that the government will be appointing overseas service providers as well as international due diligence providers to replace consulting firm Henley and Partners.

“This agreement provides for consultancy services to the government and CIU for a limited period of six months, terminating at the end of December 2013….They’re knowledgeable but in order to avoid conflict of interest and so on, we restructured that arrangement,” Spencer said.

 

The new Chief Executive Officer will operate from an office located on the third floor of the ABI Finance Center on Redcliff Street, which government is renting for $20,169 a month.

 

Attorney General Justin Simon said: “We had to get a CEO, at least to initially start out, who was not only qualified and experienced but who can pass the bar and pass the test where the international community and foreign governments are concerned. The intention is to have somebody local who will be understudying and can take over from there.”