Sheila Lowe has been appointed as the Isle of Man Government’s Chief Financial Officer on an interim basis.

Currently the Director of Finance and Development at the Department of Economic Development, Mrs Lowe will take up her new post in Treasury from Wednesday 01 July 2015.

The interim arrangements have been put in place following Dr Malcolm Couch’s appointment as Chief Executive of Department of Health and Social Care. A recruitment process is taking place to find a permanent successor to Dr Couch.

Mrs Lowe, a Member of the Institute of Chartered Accountants of England and Wales since 1993, will bring a wealth of experience to the Treasury post having held senior Government roles for the past 10 years.

Treasury Minister Eddie Teare MHK said: ‘We have been working to ensure a smooth transition at Treasury and I’m delighted to have secured the services of an officer of Sheila’s calibre. She is a well-known and respected figure in Government and will slot straight in to provide continuity and strong leadership.’

He added: ‘Treasury is making good progress on a number of important issues and Sheila’s professional advice and support will help to maintain that momentum. I hope this sends out a positive message to the private sector that it’s very much business as usual at the Treasury.’

Mrs Lowe joined the Isle of Man Government as Director of Finance and Development at the Department of Trade and Industry and retained that role within the Department of Economic Development after the restructuring of Government in 2010.

The process to appoint a permanent Chief Financial Officer is already under way, with the post being advertised on and off-Island. Applications are being sought from qualified accountants who can offer strategic leadership and direction to Treasury and the Council of Ministers to support the national priorities of growing the economy, rebalancing public finances and protecting vulnerable people.