30 September 2014 (George Town, Grand Cayman) Cayman Finance has announced that its Chief Executive Officer, Mr Gonzalo Jalles will be leaving the organisation in mid-November.

Mr Ian Wight, Chairman of Cayman Finance thanked Mr Jalles for his significant contributions to the organisation and, more broadly, Cayman’s financial services industry.

“Gonzalo, in his role as the first CEO, has been instrumental in raising the profile of the Cayman Islands and has tirelessly built key relationships internationally, to great benefit for the organisation and the jurisdiction.”

“During his tenure, we were able to increase the membership of Cayman Finance by 34%, making it a truly representative body for our industry,” Mr Wight said.

Mr Wight further acknowledged Mr Jalles achievements which included developing a closer working relationship with the Cayman Islands Government.

“The Cayman Islands Government recognizes Cayman Finance as the main consultative body of the Islands’ financial services industry and the importance of its role in promoting and representing the jurisdiction,” he said. “In support of its commitment, the government’s financial contribution to the Association has increased by 40% over the past two years.”

“Other milestones include the publication of the jurisdictional magazine, Cayman. The Future of Finance, 12,000 of which have been distributed globally. Our participation at international conferences and events has increased to 15 per year and our media appearances have also increased significantly,” he said.

“The Board and I wish Gonzalo the very best in his new role.”

Mr Jalles said it had been an honour to help further develop Cayman Finance for almost two years during which time the organization had consolidated its role and grown significantly.

“It is time for me to take a new, exciting challenge with another firm in the Cayman Islands and give Cayman Finance the opportunity to renew leadership and further progress its cause,” he said.

“I am pleased that during my tenure we have fostered an even strong partnership with Government which must be preserved and enhanced for the benefit of all people living in the Cayman Islands,” he said. “I will continue to do everything I can for Cayman Finance as part of my new role with a member firm.”

The Honourable Wayne Panton, Minister for Financial Services, Commerce and Environment said both Cayman Finance and the Government recognized the importance of working alongside one another to help dispel long-held inaccuracies and promote the integrity and transparency of Cayman’s financial system.

“Since Government and Cayman Finance signed an MoU last year, we have worked more closely and effectively than ever before to promote and further build the strong reputation of the Cayman Islands.”

“We thank Mr Jalles for his leadership during his tenure as Cayman Finance’s CEO, and we look forward to continuing the good work between Government and Cayman Finance in the future, on behalf of our jurisdiction.”

Mr Jalles will leave Cayman Finance mid-November. A recruitment process will begin shortly to find a successor but no one has been chosen yet.

Mr Jalles commenced his role as the first Chief Executive Officer of Cayman Finance in January 2013. Prior to Cayman Finance, he was principal of his own financial services consulting company and was CEO of a local bank for nearly six years. He is also a past President of the Cayman Islands Banker’s Association.