Cayman Finance head to leave

Jude Scott is to step down from his position of Cayman Finance CEO at the end of the year. He’s led the lobby group since 2014.

The former global CEO of law firm Maples and Calder (now Maples Group), he initially took the role for just two to three years but has stayed on to fight the island’s financial services sectors’ corner in debates over the years over its tax status and other issues. His tenure took in the Panama Papers revelations, the OECD’s reintroduction of its list of uncooperative tax havens and the introduction of public beneficial ownership registries in the UK’s overseas territories.

Recently, he fronted its response to the moves towards a global minimum corporate tax rate agreed by G7 leaders.

“After almost seven years in the role, I felt the time was right for me to step down as CEO at the end of this year,” he told journalists at the Cayman Compass.

“With the support of the Board, the financial services industry, the government and the regulator, during my tenure Cayman Finance has proudly protected, promoted, developed and helped grow the financial services industry for the benefit of the Cayman Islands and its people,” he wrote.

Last year, at Captives International’s Cayman Awards, he said he remained optimistic for Cayman’s future as a domicile.

“We have done a great job of responding to changes—regulatory and otherwise—and converting those into opportunities. When we look at things such as economic substance, because Cayman has developed a very deep talent pool and a great infrastructure, that will make us even more attractive as a jurisdiction.”