Leader of Government Business McKeeva Bush has announced that Chief Secretary George McCarthy, who retires from his position as head of the Civil Service tomorrow, has been offered and accepted the chairmanship of the Cayman Islands Monetary Authority (CIMA). Paying tribute to the First Official Member in the Legislative Assembly on Monday afternoon (29 June), Bush said that his talents were too great to lose and he had asked him to take on the role after a quick respite.
Bush said that there was too much need and too much work to be done to dispense with the kind of experience and sage advice that McCarthy could offer. The LoGB said he didn’t “like this 60 thing”, referring to the retirement age. He said McCarthy was not too old to continue helping to keep the good ship Cayman on course and there was too much to do for him to go away and rest.
He noted McCarthy’s contribution over the years to the Cayman Islands' financial services, from his past role as financial secretary, his involvement in crafting the legislation that has helped keep Cayman competitive, and most recently as head of the new taskforce spearheading the work to get Cayman off the OECD grey list.
Bush said McCarthy had made a distinguished and invaluable contribution to the islands during his career in the civil service steering Cayman through turbulent financial waters and he looked forward to working with him in his new role.
Leader of the Opposition Kurt Tibbetts said that McCarthy had already played a significant role in the country’s success in financial services and the development of the civil service, and noted that his understanding of public service was because he had worked from the ground up starting as a clerk in the education department back in the late 1960s.
McCarthy, in his closing speech to the House, said he was humbled by the comments and he said the attorney general had told him not to cry. He said it had been a privilege to serve in the House since 1992.
Bush made no mention of the future role of the current chairman, Carlyle McLaughlin, who was appointed as the Chairman of the Board less than 12 months ago on 27 July 2008. McLaughlin’s appointment was met with considerable controversy when he replaced Tim Ridley, who had served as chair since 2004.