26 January 2023Analysis

Cayman Finance Breakfast Briefing returns to New York

Cayman Finance hosted its first New York breakfast in three years yesterday, with over 150 from across financial services attending. More than 40 travelled from Cayman to the Harvard Club for the event organised in partnership with the Ministry of Financial Services and Commerce, the Cayman Islands Monetary Authority (CIMA), and the Cayman International Reinsurance Association (CIRCA).

Following the hiatus due to the pandemic, Cayman Finance CEO Steve McIntosh welcomed organisations back, while Cayman governor Martyn Roper reiterated his and the UK’s support for a well-regulated, legally compliant, highly efficient, and professional financial services industry in Cayman.

The event showcased the partnership between the government and the industry and provided opportunities to network and get updates from Government and CIMA. Attendees heard from CIMA managing director Cindy Scotland and Chris Duggan, the newly appointed Cayman Islands government representative in Washington DC, whose office officially opens today, 26 January.

“One of the strategic priorities for Cayman Finance is the international promotion of our financial services industry,” said McIntosh. “Events, such as this one, demonstrate the strength of the government/industry partnership and how committed we all are to ensuring the continued success and growth of the financial services industry in Cayman.”

The Cayman minister for financial services and commerce, André Ebanks, delivered the keynote address and highlighted New York’s importance to the industry.

“The New York / Cayman Islands relationship supports the vitality of the financial services industries in the US and in our Islands. Moreover, it supports well-regulated and commercially viable financial services globally. And the Cayman Finance Breakfast Briefing is integral to this relationship,” he said.

“Since its inception many years ago, this event represents taking friends – old and new – for breakfast to reaffirm our friendship, find out what’s new, and share plans. It’s been three years since we’ve held this briefing, and I’m delighted that we are back in New York to check in with each other and to continue moving sound business forward.”

The evening of the same day saw over one hundred attendees to an expanded Cayman Finance Reinsurance Roundtable event, hosted in partnership with CIRCA. Two panel discussions focused on updates from the Cayman reinsurance sector and the benefits of doing business in Cayman.

CIRCA Chairman Graham Mackay said: “We are delighted to have worked so closely with Cayman Finance and the Ministry on this signature event. The Reinsurance Industry in Cayman is thriving, and we are proud to have this opportunity to showcase the benefits of the Cayman Islands to the reinsurance sector in New York.”