Cayman Finance used a roundtable format to connect small groups of leading industry stakeholders with Deputy Premier André Ebanks and other representatives from the Cayman Islands Government.
Cayman Finance has successfully concluded a series of engagement discussions with industry partners in New York. Using a roundtable format for the first time in the U.S., Cayman Finance connected small groups of leading industry stakeholders with representatives from the Cayman Islands Government, the Cayman Islands Monetary Authority (CIMA) and the financial services industry for a constructive dialogue about the jurisdiction.
Over the course of the two-day event on March 14-15, Cayman Finance held a number of roundtables focused on funds, structured finance, trust and wealth management. More than 50 partners and executives from the city’s financial services community participated. Additionally, Cayman Finance organised multiple individual meetings with prospective clients to highlight the jurisdiction’s investment opportunities.
Steve McIntosh, CEO of Cayman Finance, said, “These roundtable discussions in New York City helped deepen our understanding and connection with investors in Cayman’s biggest market. The format, with senior executives from clients and onshore law firms that refer business to Cayman, produced conversations that were open and insightful about Cayman’s competitive advantages and how we can strengthen our position further in the market.”
He said, “We were not there first and foremost to deliver any particular message, but to listen. It is only by listening and responding to the needs of our clients, investors and partners that we can ensure our suite of world class products and services remains at the forefront of international finance.”
Deputy Premier and Minister for Financial Services and Commerce, André Ebanks, thanked New York’s industry for their business and continuing recognition of the Cayman Islands as a sound place for investment.
“Cayman Finance’s refreshing new format felt less like client meetings and more like a productive working group of persons with shared goals,” he said. “It allowed all participants – Government, regulators and industry – to speak more candidly about our respective roles and experiences in this constantly evolving regulatory and commercial environment, and to identify ways in which we can work together more effectively.”
Participants were encouraged to share their questions and comments with the nation’s top financial services policy-maker as well to provide their candid feedback on their experience working with the jurisdiction. In response to questions, the deputy premier updated the attendees on recent and anticipated changes in Cayman’s legal and regulatory regime.
During the discussion the deputy premier reiterated Cayman’s continued commitment to providing world class services to the investment funds community. He noted Cayman’s increased attractiveness as a reinsurance domicile, and discussed the country’s current position with regard to the OECD’s Pillar Two, and FATF and EU AML requirements.
Several participants expressed their view that Cayman’s ecosystem of financial service providers was second to none and represented a significant competitive advantage for the jurisdiction.
In addition to the deputy premier, participating representatives of the Cayman Islands Government included Julie Campbell, Deputy Representative for Financial Services to Europe; Rohan Bromfield, Head of CIMA’s Fiduciary Services Division; Pranav Variava, Head of CIMA’s Investments Supervision Division; and Gaone Dube, Deputy Head of CIMA’s Investments Supervision Division; Steve McIntosh, CEO of Cayman Finance; Lainey Egan, Associate Director at Cayman Finance for Funds, Wealth Management and Capital Markets and Brittany MacVicar, Associate Director for Trusts, Reinsurance and Insurance.
Cayman Finance anticipates that it will use the successful new format in future industry promotion events in key markets around the world.
