Over 140 students from the Layman E. Scott High School in Cayman Brac received an introduction to Cayman’s financial services industry in last month as part of the school’s career fair event held on February 22nd.

Mr. Paul Byles, CEO and Director of First Regents Bank & Trust, spoke with the students about the hedge funds, captive insurance and banking industries, why clients used their services and career options for students.

“It was essentially a brief introduction to the industry with no technical jargon, so that they could get an idea of what some of the services were, why a client would use those services in the Cayman Islands and what some of their career options are in the industry. I tried to use some adhoc role play with student participation which they seemed to enjoy”, explained Mr. Byles.

Byles said that educating students about the industry on a regular basis particularly between the ages of 14 and 15 when they may have initial thoughts about career and academic choices is an important part of facilitating the maximum participation and success of Caymanians in the financial services industry.

Byles who is also President of the Junior Achievement Program in the Cayman Islands and a past Rotary President, said “I have always felt that students needed this introduction a lot earlier than when they graduated or even in their last year. By then it’s too late to influence some of the students who, had they been exposed to the industry, may have made different choices during those key years in high school where students often need creative means of motivating them in their studies and career choices”, said Mr. Byles.

The initiative itself is a personal effort of Mr. Byles which he says he will continue to do as part of his way to give back via community service.

Ms. Sharon Austin Vice-Principal of the Layman E Scott High school and Mr. Devon Bowen Teacher & Career Fair Organizer were both very pleased with the event.

“Chief among the presentations was an informative and engaging session conducted by Mr. Paul Byles. The focus of the presentation was to expose students, particularly our senior students to the workings of the Insurance and Investment industries in the Cayman Islands.” said Mr. Bowen.

“Mr. Byles used a variety of strategies, including role-playing, which captured and held the students’ interest throughout, while serving to concretize the concepts explored. All in all, the presentation proved very worthwhile and students left with a deeper understanding and appreciation of the requirements as well as the expectations involved in this career,” added Ms. Austin.

Another key message for students on the day was that the majority of career options in the financial services industry do not involve being a lawyer or accountant.

“There are dozens of very good career options in the financial services industry such as marketing, HR, IT and others that are very fulfilling and students should also be aware that the financial services industry cannot function with solely lawyers and accountants,” he added.