Cayman Finance News

Following its statement released on Tuesday, 11 December regarding the recent arrest of the Cayman Islands’ Premier, McKeeva Bush, Cayman Finance Chairman, Mr Richard Coles, wants to reassure the community that the Association is taking seriously the impact of the allegations against the Premier and has taken steps to ensure the interest of Cayman’s financial services industry is well represented.

In response to a short and peaceful “protest” by supporters of the US –based CodePink group who were visiting the Cayman Islands on a cruise ship today [13 December 2012], Richard Coles, Chairman of Cayman Finance, stated: “We’re always happy to welcome visitors to Cayman, to enjoy the waves and sunshine, and to learn more about our island’s economy. 

After 27 dedicated years, Roy McTaggart has announced his retirement as Managing Partner from KPMG in the Cayman Islands and British Virgin Islands; and Kevin Lloyd takes over the helm from 30th November 2012.

For the fourth consecutive year the Cayman Islands has received the accolade as top jurisdiction as a Specialised Finance Centre in The Banker magazine’s 2012 survey of international financial centres, beating all other financial centres globally in this category. 

While places like Virginia and Florida will mean the most to the upcoming presidential election in the United States, another location has been popping up disproportionately during the campaign: the Cayman Islands. Since the Republican primary season, Cayman has been at the centre of US media coverage of candidate Mitt Romney, relating to investments reportedly made by the former Massachusetts governor in the British overseas territory. But why has Cayman been mentioned so prominently, and so often? To learn more, Caribbean Journal talked to Richard Coles, the chairman of Cayman Finance, an association tasked with promoting the territory’s financial services industry, about Romney, President Barack Obama, and the frequent mention of the Cayman Islands in the US campaign.