CIFSA Luncheon targets elite opinion

Stuart Dack, President,
Cayman National Corporation

Monday,  January 24, 2005

The Lord Mayor’s traditional house, Mansion House, in London, will be the venue for a Cayman Islands Financial Services Association (CIFSA)-sponsored luncheon on 26 January 2005. 

One hundred guests, including UK politicians, representatives from the central government and key regulators, as well as senior executives in the banking, legal and accountancy professions are expected to attend the event that is aimed at informing and educating “elite opinion and the international media about the high quality of regulation and services in the Cayman Islands,” according to CIFSA Representative and President of Cayman National Corporation, Stuart Dack.

Organised by the Cayman Islands Investment Bureau in London, the luncheon is being staged to strengthen ties between the City of London and the Cayman Islands in order to promote Cayman’s financial services industry.

Formed in November 2003, less than a year prior to the passage of Hurricane Ivan, CIFSA will be sending “a clear message that the Cayman Islands has survived the disruption caused by the hurricane as well as promoted the competitiveness of the Islands’ financial services, particularly in areas such as banking, mutual funds and captive insurance,” said Mr Dack

Senior Account Manager, Tower Marketing and Publishing, Elissa Costello said however, that such an event would have been staged even if the hurricane had not occurred. 

“We have new regulations and different things happening in our sector and so we would need a forum like this to educate key players about our products, services and approach to regulation,” she added.

Cayman Islands Monetary Authority President, Tim Ridley, who is also principal speaker at the luncheon said Europe and London, in particular, were major sources of business for the Cayman Islands.

He will speak on the Islands’ approach to regulation, the role of the regulator, current business trends in Cayman’s financial markets and the impact of recent international regulatory initiatives.

CIFSA is composed of the Cayman Islands Society of Professional Accounts (CISPA), the Law Society, the Society of Trust and Estate Practitioners (STEP), the Fund Administrators Association, the Company Managers Association, the Bankers Association and the Insurance Managers Association.

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