Cayman’s Financial Services Industry Takes Centre Stage In New York

PRESS RELEASE

NEW YORK, USA : After a three-year hiatus due to the pandemic, Cayman Finance, in partnership with the Ministry of Financial Services and Commerce, the Cayman Islands Monetary Authority (CIMA), the Cayman International Reinsurance Association (CIRCA),and members of the financial services industry, returned to New York to host the popular breakfast briefing and reinsurance roundtable events.

The breakfast briefing was attended by over 150 representatives from a wide cross section of the financial services industry, with close to 45 travelling from Cayman for the event. Held at the Harvard Club, the breakfast showcased the partnership between Government and industry and provided an excellent opportunity for participants to network and hear updates from Government and CIMA.

Cayman Finance CEO Steve McIntosh was delighted to lead the organisation back to New York and commented on the importance of these type of stakeholder engagement activities. “One of the strategic priorities for Cayman Finance is the international promotion of our financial services industry. Events, such as this one, demonstrate the strength of the government/industry partnership, and how committed we all are to ensuring the continued success and growth of the financial services industry in Cayman.”

His Excellency the Governor, Martyn Roper O.B.E., reiterated his personal support and that of the United Kingdom for the well-regulated, legally compliant, highly efficient, and professional financial services industry in Cayman. Attendees also heard from Managing Director of CIMA, Cindy Scotland, O.B.E., who provided a regulatory update, and from Chris Duggan, the newly appointed Cayman Islands Government representative in Washington DC, whose office will officially open this Thursday, 26 January.

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Minister for Financial Services and Commerce, the Hon. André Ebanks, delivers his keynote address at the 2023 Cayman Finance Breakfast Briefing in New York. 

In his keynote address, Minister for Financial Services and Commerce, the Hon. André Ebanks, highlighted how important New York City is to the continued success of the industry.

“The New York / Cayman Islands relationship supports the vitality of the financial services industries in the US, and in our Islands. Moreover, it supports well-regulated and commercially viable financial services globally. And the Cayman Finance Breakfast Briefing is integral to this relationship.

“Since its inception many years ago, this event represents taking friends – old and new – for breakfast to reaffirm our friendship, find out what’s new, and share plans. It’s been three years since we’ve held this briefing, and I’m delighted that we are back in New York to check in with each other, and to continue moving sound business forward,” he said.

The evening saw an expanded Cayman Finance Reinsurance Roundtable event, hosted in partnership with CIRCA. With over one hundred attendees, the networking event saw two panel discussions focused on updates from the Cayman reinsurance sector and the benefits of doing business in Cayman.

CIRCA Chairman Graham Mackay commented, “We are delighted to have worked so closely with Cayman Finance and the Ministry on this signature event. The Reinsurance Industry in Cayman is thriving, and we are proud to have this opportunity to showcase the benefits of the Cayman Islands to the reinsurance sector in New York.”

Whilst in New York, the Cayman delegation also took part in a variety of meetings with key industry stakeholders. Cayman Finance will be partnering with the Cayman Islands Government and other organisations to host additional international events in 2023 and will be back in New York in 2024. The delegation travels to Washington DC today to formally open the office of the Cayman Islands Government representative.

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Cayman Finance, in partnership with the Ministry of Financial Services and Commerce, welcomed guests to the first Cayman Finance New York Breakfast Briefing in three years.

ENDS

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