Minister for Financial Services, Economic Development and Digital Transformation Hon. Lorna G. Smith, OBE, described the late Dr. Robert Mathavious, OBE, as “a gift to the Virgin Islands, to the region, to the world” during the official Celebration of Life held in his honor.
Addressing the Premier, members of the House of Assembly, and Dr. Mathavious’ family, Hon. Smith said he leaves behind “a legacy of vision, integrity, faith, and friendship.” She called Dr. Mathavious “perhaps our most effective Financial Secretary” and “the architect of the modern financial services industry in the Virgin Islands.”
“His vision, his intellect, and his leadership transformed our economy and gave us a foundation that continues to sustain our people today,” Hon. Smith said. “He taught us that credibility is our currency, and that innovation and integrity must always guide our path.”
Hon. Smith highlighted Dr. Mathavious’ global impact, particularly his work to expand the Virgin Islands’ financial services sector in Asia. “Since 1984, over one million companies have been incorporated here — more than 40 percent from China alone,” she said. “The BVI today mediates around 638 billion dollars in investment related to Mainland China, Hong Kong, and Macau. Our presence there underpins 1.16 million jobs across that region and contributes nearly 3 billion dollars in tax revenues in that part of the world. That is the measure of the man whose life we celebrate today.”
She recalled several key milestones led by Dr. Mathavious, including a 1990 mission to Hong Kong alongside the late Chief Minister H. Lavity Stoutt, Richard Peters, Dancia Penn, and Beverly Hodge. “We met with the Chairman of HSBC, all the Chambers of Commerce, and practitioners, promoting what Robert called ‘The BVI Advantage,’” Hon. Smith said.
Hon. Smith also recounted a 2003 mission to Beijing led by then-Minister of Financial Services Hon. Ronnie Skelton. “In typical Robert fashion, he prepared us meticulously, giving us each a book titled Kiss, Bow, or Shake Hands — our cultural briefing guide,” she said. “Robert was not content with small talk; he sought to understand how China thought, how it worked, and how the BVI could build bridges of mutual respect.”
Dr. Mathavious’ foresight, she said, led to the establishment of the BVI’s permanent office in Hong Kong in 2014 and helped pave the way for the Hong Kong Stock Exchange’s 2009 decision to allow the listing of BVI companies. “All of it — the trust, the credibility, the innovation — flowed from his philosophy of fit-for-purpose regulation,” she said. “Not overbearing, not lax — but balanced. Regulation that enabled growth while protecting our good name.”
Hon. Smith emphasized Dr. Mathavious’ commitment to ethics and moral clarity. “He often said, ‘We have no room for the ethically challenged.’ He meant it. The BVI must always be a hostile environment for anyone seeking to misuse our financial services,” she said.
In closing, Hon. Smith extended condolences to Dr. Mathavious’ family. “To Prudence, to Jadyn, to his brothers, sisters, and extended family — thank you for sharing Robert with us,” she said. “Thank you for letting the Virgin Islands, the region, and the world benefit from his genius, his grace, and his generosity of spirit. We are all richer for having known him — and poorer for losing him.”
“Rest in peace, my dear friend. Rest in peace, Robert,” she concluded.
