Dr Thumann graduated summa cum laude with a Ph.D. in economics and statistics from the Friedrich Alexander University Erlangen-Nurnberg and, between 1978 and 1994, was an economist in the German civil service and subsequently senior economist for the International Monetary Fund in Washington D.C.

After joining Salomon Brothers in London as managing director, in the late 1990s he founded a consultancy specialising in central banks. In 2007 Dr Thumann was appointed partner, CEO and chairman of the board of Brevan Howard Capital Management in Jersey (Channel Islands) and, over his ten years there, he built the offshore business and established the Jersey business as the hub of the Brevan Howard Group.

After retiring from Brevan Howard in January, Dr Thumann has succeeded Robert Christensen MBE who resigned as Jersey Finance Chairman when he was elected Jurat in January.

Geoff Cook, CEO, Jersey Finance, said: “To have someone of Gunther’s calibre as our new chairman is clearly fantastic news for us as an organisation, and for our members, and his leadership and insights will be invaluable as we step up our activity in our key markets. He is a hugely respected figure who has vast experience as executive and non-executive director in several hedge funds and an enormous amount of experience in the global financial services arena more widely.

“Our thanks go to Robert, who made an immense contribution to Jersey Finance, not only as chairman for the last three years, but from the start. He was instrumental in launching Jersey Finance and served as a non-executive director from its establishment in 2000 until 2008, and we are very grateful to him for his years of time and dedication over the years.”

Dr Thumann, who was formally confirmed as Chairman at Jersey Finance’s Annual General Meeting on Thursday 22 June, said: “I am delighted to be joining Jersey Finance, and I am looking forward to helping give guidance and direction to the great team who are there.

“Jersey is operating in a dynamic global market. As the body which represents and promotes the Island, Jersey Finance has a vitally important role in ensuring that the industry remains highly competitive and the Island retains its global reputation as an international finance centre of excellence.”