Cabinet has approved the appointment of a new board of directors for the Cayman Islands Monetary Authority (CIMA).
Nine people will serve on the board for a two-year term from 1 April this year to 31 March 2028.
Four members were re-appointed. They are chair Anna Goubault, Dax Basdeo, Vaughn Carter and Langston Sibblies.
Meanwhile, five new appointments are deputy chair Heather Smith, Taron Jackman, Monique Frederick, Don Ebanks and Greg Swart.
In a press release on 25 March, Premier André Ebanks, who also serves as financial services and commerce minister, highlighted the importance of CIMA.
“As we look ahead to the future of financial services and its regulation, we know that there are new business lines to grow whilst ensuring they are appropriately regulated,” he said.
“We also know that we have to overcome hopefully, successfully, international assessments that are on the horizon as well as develop the internal future of CIMA operations.”
Ebanks highlighted the significance of two Caymanian women serving in the two leadership roles as chair and deputy char.
“We are confident that, based on merit, the new chairperson and deputy chairperson will lead the CIMA board well,” he said.
The appointments were made in accordance with the Public Authorities Act and the Monetary Authority Act.
CIMA chair Goubault said: “It’s a great privilege to have the opportunity to chair the CIMA Board, CIMA’s core work is vital to the jurisdiction.
“I value this opportunity in this crucial phase in CIMA’s history, as we chart our way as a global financial centre and we continue to support innovation and competition through our own leading financial regulatory standards.”
She said she looks forward to working with her CIMA colleagues and the executive to deliver on this mission.
“We will continue to adapt, lead and protect the integrity of the Cayman Islands financial services system,” she said.
All appointees were assessed to ensure they bring the experience, expertise and integrity to serve effectively and in the public interest, the press release said.
Deputy chair Smith said: “It’s indeed an honour to be appointed to this role and to be able to contribute alongside my fellow directors and the CIMA executive management.
“As a former regulator with over 25 years in industry, I understand first-hand the importance of CIMA’s contribution as a regulator of the financial services sector here in the Cayman Islands.”
