Brittany MacVicar, Cayman Finance Associate Director for Trusts presented an update on the industry association’s work at the STEP Cayman conference on 24 Jan.
MacVicar highlighted the range of Cayman Finance’s promotional, advocacy and community projects over the past 12 months to delegates at the trust and private client sector’s flagship event.
Most visibly this included supporting industry delegations at events in North America, Europe and Asia in 2024, and promoting the Cayman Islands as a leading jurisdiction for trusts and private wealth structures.
Locally, Cayman Finance works with members and industry associations, like STEP Cayman NextGen, as well as local educational institutions to bridge the gap between academic knowledge and industry requirements to ensure that Cayman’s success as a financial centre is reflected in local employment.
MacVicar also touched on the need to innovate to strengthen the Cayman Islands’ position as a leading international financial centre.
“If we want to continue to be seen as a leader on the global landscape, we need to be living in the future. Our continued success requires us to tackle the complacency trap that often threatens mature industries,” she said. “We must continue to invest in upgrading our regulatory infrastructure, in our local talent, and embrace emerging technologies like artificial intelligence to remain competitive.”
Cayman’s ability to balance regulatory compliance and innovation will be what sets Cayman apart, the Cayman Finance associate director said.
The two-day STEP Cayman Conference 2025 was sold out with 330 delegates from 18 countries.
It featured in addition to opening remarks by Cayman Islands Premier Juliana O’Connor-Connolly, panels ranging from Cayman Islands STAR trusts and the fallout from changes to the UK’s non-dom regime from a Cayman perspective to advising family offices and Cayman’s growing attractiveness for ultra-high net worth families.
“The Cayman Islands offer many advantages to global families, including an extensive depth of skill and talent within the local trusts industry,” MacVicar said, adding that there has been a noticeable shift in how wealthy families interact with Cayman.
“Historically, our jurisdiction has been sought after for wealth structuring, estate planning, and philanthropic endeavours. What’s new now as we heard this week, is the increasing number of families not only using Cayman as a financial hub but also choosing to reside here and establish their family offices on our shores,” MacVicar said.
