THE Securities Commission has named Dave Shannon Smith as its executive director with effect from March 1, 2012. He takes over the post from Commission chairman, Philip Stubbs, who has held it since the departure of former executive director, Hillary Deveaux. Mr Smith holds a B.A. in Business Administration and an MBA from Taylor University, Upland, Indiana. He is a qualified Certified Public Accountant, Fellow of The Bahamas Institute of Financial Services, and Fellow of The International Compliance Association. He is also a member of the Bahamas Association of Compliance Officers (BACO) and the Bahamas Institute of Chartered Accountants (BICA). Prior to his appointment, Mr Smith served as resident manager of BAC Bahamas Bank for more than five years. He has previously worked for Credit Suisse, UBS, Lloyds TSB, MeesPierson, Royal Bank of Canada and Royal Bank of Scotland. Mr Smith is actively involved with the Bahamas Institute of Financial Services, where he serves as treasurer and lecturer in its Banking Certificate, Associate and G12 Programmes.