GRAND CAYMAN (Monday, 5 February 2007) The Board of Directors of the Cayman Islands Monetary Authority (CIMA) has confirmed Mr Rohan Bromfield, TEP, as the Head of Fiduciary Services, following a six-month acting appointment.
At the same time, the Authority has appointed Mr Dean Wickens, formerly of the Guernsey Financial Services Commission, to the post of Deputy Head of Insurance. Mr Wickens took up his appointment on 15 January, while Mr Bromfield was confirmed at a CIMA Board meeting on 24 January. Rohan BromfieldMr. Bromfield, who has been with CIMA since 1997, was promoted to Deputy Head of Fiduciary Services in April 2005 and was made the division's acting head in June 2006, following the promotion of former head, Mr Patrick Bodden, to the post of Deputy Managing Director of the Authority. As Head of Fiduciary, Mr Bromfield is responsible for the supervision of licensed trust companies, company managers and corporate service providers. As a member of the Authoritys Management Committee, he also assists with providing advice and guidance to the Authority's Board of Directors and the industry on developments within the fiduciary services sector. He leads a staff of six.Mr Bromfield holds a bachelor's degree in economics and a diploma in international trusts management from the Society of Trust and Estate Practitioners (STEP).Dean WickensMr Wickens, an Associate of the Chartered Insurance Institute (ACII), has worked exclusively in the insurance industry for the past 14 years. His experience includes consultancy, Lloyd's of London, the company market and insurance regulation. From 2002 to 2006, he worked for the Guernsey Financial Services Commission, supervising all aspects of the Guernsey insurance market, with particular responsibilities relating to captive insurance companies. He holds an honours degree in economics and sociology and a diploma in financial management. Mr Wickens joins Mrs Morag Nicol, who officially assumed the post of Head of Insurance on 1 January, following the retirement of former head Ms. Mary-Lou Gallegos. The Insurance Supervision Division, with a total staff of 13, has responsibility for the supervision of insurance companies, managers, brokers and agents licensed by the Authority.
CIMA's Managing Director, Mrs Cindy Scotland, expressed pleasure at the appointments: "I am delighted that Rohan has been confirmed to the post. He has proven to be a valuable asset to the Authority and to the fiduciary services sector. I also welcome Dean, whose international experience, particularly in captive insurance regulation, will, I am sure, further strengthen the CIMA team."