Mr. Linburgh Martin, has been appointed Deputy Chairman of the Cayman Islands Monetary Authority (CIMA) effective 1 August 2004. Mr. Martin has been a member of the board of CIMA since mid-2002.
The Financial Secretary the Hon. George McCarthy announced the appointment today (Monday, 23 August). This follows last month s appointment of then Deputy Chairman Timothy Ridley to the chairmanship of the board, on retirement of long-serving chairman Mike Austin.
Welcoming Mr. Martin to his new role on the board, Mr. Ridley said: "I am delighted with Mr. Martin's appointment. We have worked closely together since we both joined the Board in 2002. I look forward to building on that excellent relationship as CIMA meets the challenges before it."
A native of the sister island of Cayman Brac, Mr. Martin currently chairs CIMA s Human Resource Sub-committee. He is a former council member of the Cayman Islands Society of Professional Accountants and a current trustee of the Public Service Pension Board. He also now serves as a member of government s National Advisory Council.
Commenting on the new position, he said, I am honored to accept this appointment and look forward to continuing to work with my colleagues on the board and the staff of CIMA as we all strive to regulate efficiently the financial industry. I also look forward to advancing the constructive dialogue that the board and the authority now enjoy with the private sector.
Mr. Martin is an experienced professional in the Islands financial services sector, where he serves as managing director of Close Brothers (Cayman) Limited. He is also a member of the Institute of Chartered Accountants in England & Wales, of the Cayman Islands Society of Professional Accountants, and of the Society of Trust and Estate Practitioners.
He joined Ernst & Young in London upon graduating from the University of Kent at Canterbury, England, in 1989. He then returned home to practice at Ernst & Young, Grand Cayman, where he managed portfolios of clients such as insurance companies, banks, investment funds and manufacturing.
In 1994 Mr. Martin moved to Chartered Trust, and was appointed the company s managing director in 1998. In April 2001 Chartered Trust was acquired by Close Brothers Group plc (Close Brothers), which is the largest quoted independent merchant bank in the United Kingdom.
(GIS)