The Bermuda Public Accountability Board (BPAB) was established upon enactment of The Bermuda Public Accountability Act of 2011 (the Act) to provide oversight of Bermuda accounting firms that audit Public Interest Entities (PIEs), as defined by the Act and subsequent amendments thereto. The Act provides for a comprehensive, independent and transparent system of oversight by establishing BPAB and granting it powers to carry out the independent supervision of PIE public accountants.

BPAB has an Executive Director who manages the operational, strategic and financial day-to-day operations of BPAB, including the administration, programs, and strategic planning of BPAB. All key decisions of BPAB require approval of the majority of the Board of Directors.

The Directors of BPAB are responsible for oversight of BPAB’s activities and affairs. The Board has a Chairman, a Secretary and at least two other non-executive members. Two of the Directors are professional accountants to ensure that the Board maintains accounting expertise. The two remaining members are seasoned financial and investment professionals that help deliver prudent independence and oversight. The Act specifies that a Board member is initially appointed by the Minister of Finance for a three-year term, with extended terms as permitted by the Act. Terms for certain directors may vary to stagger the terms.

The Directors of BPAB are as follows: 

The Hon. Gerald Simons, OBE, Chairman 

Gerald Simons is a retired insurance company executive and a former politician.  In 2012 he retired from the Argus Group, a multi-line insurance company, after over 40 years of service, 12 of which were as President and CEO.  Argus operates in Bermuda, Gibraltar and Malta.  Mr. Simons served in the legislature of Bermuda from 1982 to 1995 and was a member of the Cabinet for 11 years holding various portfolios including education, environment and culture.  In 2018 he ended six years as chairman of the board of the Bermuda Monetary Authority, the integrated financial services regulator in Bermuda.  Over the course of his career Mr. Simons has served as a member of the board of a number of publicly traded companies including a bank and a public utility.  Mr. Simons has served as chairman or president of a number of organizations including the Bermuda Employers’ Council and The Bermuda National Trust.  In 1996 Mr. Simons was made an officer of the Most Honourable Order of the British Empire (OBE) for service to Bermuda.

Andrew M. Marsh 

Andrew M. Marsh works as an investment consultant for a private investment office and advisory firm based in Bermuda. He also serves as an independent director for private investment companies. Andrew brings over 25 years of in-depth capital markets and asset management experience working for top global investment firms including Goldman Sachs (J. Aron & Company), Dai-Ichi Kango, and Alfred Berg in London, Stockholm, and Hong Kong.  Since Andrew’s move back to Bermuda in 2001, he has spent time working in senior positions for hedge funds and asset management companies as chief economist, proprietary trader and equity analyst.

Wanda Mwaura, Secretary, Executive Director 

Wanda Mwaura has served as the Executive Director of BPAB since January 2020. She also serves as a non-executive director on various boards and committees and is the chair of the audit committee or audit & risk committee for two publicly listed entities.  Wanda was formerly the Chief Accounting Officer of PartnerRe Ltd. and a Partner of Ernst & Young Ltd. (EY).  During her 17-year career at EY, Wanda served on various boards and committees including the Institute of Chartered Accountants of Bermuda (now known as CPA Bermuda), the Bermuda Insurance Institute, and the former Atlantic School of Chartered Accountants. Wanda is a CPA, CA and a member of the Chartered Professional Accountants of Bermuda.

Michelle Seymour Smith, Treasurer 

Michelle Seymour-Smith is an accomplished leader with over 20 years of international experience in public companies in the insurance and reinsurance industry.  She serves as non-executive director on various boards and committees, including as chair, and previously served as the Chief Transformation Officer of Arch Capital Group having previously held roles as Chief Financial Officer and Chief Operating Officer of Arch Reinsurance Ltd.  Michelle has been recognized as one of 100 Influential Women in Insurance and Reinsurance by Intelligent Insurer and was named as a Fellow of the International Women’s Forum Leadership Foundation Program in 2017. Michelle is a CPA, CA and a member of the Chartered Professional Accountants of Bermuda.