GEORGE TOWN, Grand Cayman, April 19, 2011 /PRNewswire/ -- Richard Coles has been voted in as the incoming chairman for Cayman Finance.

Former Attorney General for the Cayman Islands, Coles has an impressive resume that makes him well-suited to take on the leadership of the organisation that is the voice of Cayman's financial services industry.  

Officially taking the helm at the Cayman Finance annual general meeting held 13 April 2011, Coles expounded on his commitment and his capabilities to further develop Cayman Finance's relationship with the Cayman Islands Government.  Previously, Coles has been a Member of the Cabinet and Legislative Assembly, a Government Minister (appointed to that position on the recommendation of the British Government) and acting Governor of the Cayman Islands.  He is currently an independent director for hedge funds, structured finance vehicles and investment and financial sector companies and had built a successful law firm in England prior to moving to Cayman.  

"This organisation has developed an impressive history of working with Government to achieve its mission of promoting Cayman's financial services industry.  It is my intention to further build upon this relationship and to take the activities of Cayman Finance to a new level," said Coles.

Dr. Dax Basdeo, Chief Officer of the Ministry of Finance, also gave remarks acknowledging the efforts of Cayman Finance and encouraging more collaboration and partnership between the public and private sectors going forward.  "The competitive environment in which we work makes it imperative that Cayman is unified in its approach to maintain its position in the marketplace.  Cayman Finance has Government support to achieve this objective."

A new board was also elected and the directors are as follows:  Peter Cockhill (Ogier), Nick Freeland (PWC), Gonzalo Jalles (HSBC), Mark Lewis (Walkers), Roy McTaggart (KPMG), Conor O'Dea (Butterfield), David Roberts (Cayman Management), Daniel Scott (Ernst & Young), Henry Smith (Maples and Calder), Ian Wight (Deloitte).

Special thanks was given to the outgoing chairman Anthony Travers, who had worked tirelessly to raise the profile of the Cayman Islands, and as well to the Cayman Finance founders, the late Eric Crutchley and Eduardo D'Angelo Silva.

About Cayman Finance:

Cayman Finance is a private-sector membership-based organisation that has been established to promote Cayman's financial services industry through public relations, public affairs and marketing initiatives.  

www.caymanfinance.ky

SOURCE Cayman Finance