Scott takes up advocacy job for finance sector

(CNS Business): Former Ernst and Young partner Jude Scott is the new Chief Executive Officer of Cayman Finance, the umbrella advocacy group for the local offshore sector. CF Chairman Ian Wight confirmed Scott’s appointment Thursday and said the organisation was fortunate to have such a well-respected member of the community take up this vital role and help guide its strategic development over the coming years.

Cayman Finance has been working more closely with government recently in an effort to get everyone in the industry to join forces against an onslaught of negative publicity about the offshore sector and the tax haven label.

Financial Services Minister Wayne Panton welcomed Scott to his new position as he explained that his ministry has a close working relationship with the industry body in jointly enhancing and preserving the jurisdiction’s financial services industry.

“We are certain the appointment of such a well-credentialed individual as Mr Scott will only serve to strengthen that relationship,” he said. “Cayman Finance has a central role in representing the jurisdiction, and we look forward to working alongside Mr Scott as we continue to promote our industry at home and abroad.”

Announcing the appointment, Wight said, “Jude is well respected in the local community and internationally, having served on various Cayman Islands government and private sector committees, including the Cayman Islands Society of Professional Accountants, the Cayman Islands Financial Services Council, the Education Council, the Insolvency Rules Committee and the Stock Exchange.”

Cayman Finance said that the new CEO had led a distinguished career within the financial services industry of over 25 years and that his appointment would be well received by the industry.

In 2008, after 23 years with Ernst & Young, Scott retired from the firm, where he was audit partner, specialising in the audits of investment funds, banks and insurance companies. He joined Maples and Calder in February 2011 as the international law firm’s global chief executive officer, taking an active role in the strategic growth and development of the firm. Scott was an unsuccessful candidate for George Town in the May 2013 General Elections, when he was backed by the Coalition For Cayman (C4C) political advocacy group.

Scott said he was looking forward to the challenges of his new role and to working with all local and international key stakeholders to further build on Cayman Finance’s successes.

“I look forward to ensuring this important industry receives the local and international attention, direction, and support that is essential to sustain the growth and development of the Cayman Islands as a premier international financial centre,” he said. “Working together with excellence, innovation and balance will ensure continued success.”

The previous CEO, Gonzalo Jalles, who was the first person appointed to the position, stepped down last month.

Tags: Cayman Finance, Featured, Jude Scott

Category: Finance, Financial Services