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Financial seminar to examine impact of US economic woes on Cayman
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| Published on Friday, March 19, 2010 |
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Professors Christopher L. Culp and Andrew P. Morriss, two finance industry experts, will voice their opinions about the potential effect on the Cayman Islands of the state of US finances at a conference on 12 April at the Ritz-Carlton resort.
The event, by invitation only, is entitled, “The Implosion of US State Finance and Its Effect on the Cayman Islands,” and is being hosted by financial firms, Stuarts and RBC Wealth Management.
The professors will cover topics of potential concern for investors, fund managers and other financial services providers, who are watching the markets for signs of aftershocks. The agenda will deal with issues such as a brewing sovereign debt crisis in the US, the uncertain future demand for particular securitized products, an impending US national pension issue and the comparative validity of bonds from US states.
The discussion will look at potential fallout from the recent recession and the outlook for financial services providers in the Cayman Islands and their clients over the coming months.
“The ripple effects of events in the US are felt throughout the global economy,” said Jane Wareham, local attorney and consultant retained by Cay Solutions Ltd, a subsidiary of Stuarts. “Amidst a lot of uncertainty about the current economic client the timing is right for the industry in Cayman to take a closer look at some of the potential consequences for Cayman of further instability in US public finances.”
Deanna Bidwell, managing director of RBC Wealth Management, Royal Bank of Canada’s wealth management division, said that the bank’s continued efforts to stay ahead of events in global markets will serve their clients well.
“We believe it is paramount that the industry in Cayman is braced for the potential impact of worsening financial difficulties for the US,” she said, “so our jurisdiction can better position itself to respond effectively to any resultant economic turbulence.”
Dr Culp is an adjunct professor of finance at the University of Chicago Booth School of Business and senior advisor for Compass Lexecon, a subsidiary of FTI Consulting, Inc. He teaches graduate degree courses on structured finance, insurance, and derivatives, and has written books and provides advisory consulting services and testimonial expertise in these same areas.
He is also the co-editor of two books about the Enron scandal and corporate hedging. He has published numerous articles and is on the editorial advisory boards of the Journal of Applied Corporate Finance, the Journal of Risk Finance, the Journal of Structured Finance, and Futures Industry magazine.
He holds a PhD in finance from the University of Chicago’s Booth School of Business and a BA in economics from Johns Hopkins University.
Professor Morriss is the H. Ross & Helen Workman Professor of Law and Business at the University of Illinois College of Law, and a familiar face to Cayman’s financial services industry, having spoken at a number of high-profile local industry events and holding a seat on the editorial board of local financial services publication, the Cayman Financial Review.
Dr Morriss has published a number of books and articles on subjects ranging from offshore finance and empirical analysis to environmental and regulatory policy. Professor Morris holds a PhD from the Massachusetts Institute of Technology, Department of Economics, and graduated with high honours from the University of Texas at Austin School of Law.
More information about the seminar can be found on its website, www.caymanseminar.ky. Seminar materials will be posted after the event. | | | | Reads : 1308 |
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