14 June 2013 · (George Town, Grand Cayman) Cayman Finance is delighted to announce Ian Wight has taken up the Association’s leadership as former Chairman Richard Coles steps down after two years at the helm.

Mr Wight, who runs his own consultancy practice, is a well-respected figure within Cayman’s financial services community, having overseen Deloitte in the Cayman Islands as its Managing Partner, as well as having worked within the industry for over 20 years.

Outgoing Chairman Richard Coles says he is extremely pleased that Mr Wight has agreed to take on this important role.

“Continuous pressure on the Cayman Islands from onshore regulatory entities and governments means that chairing Cayman Finance is a very important job.  I know that an individual of Mr Wight’s calibre and expertise will take on this role with enthusiasm and successfully help lead the jurisdiction through the upcoming issues the industry faces,” he confirms.  “I wish him the very best in his endeavours.”

Mr Wight has had a long and illustrious career within the financial services industry both in the Cayman Islands and in the UK.  He has been an associate member of the Institute of Chartered Accountants in England and Wales since 1974 and a Fellow since 1981.  He has been a member of the Cayman Islands Society of Professional Accountants since 1979.  Most recently, Mr Wight was appointed by the Governor as a member of the Commission for Standards in Public Life.

Gonzallo Jalles, CEO of Cayman Finance, who will continue to be the primary driver of Cayman Finance activities, anticipates a strong partnership with Mr Wight, moving forward.

“Without a doubt the industry faces several key challenges in the months ahead, not least of all the implementation of FATCA, the Government’s signing of a Model 1 intergovernmental agreement, and the possibility of Government signing a similar agreement with the UK.  These are all issues that will need careful analysis, for which industry will be seeking a leading role from Cayman Finance.  I am very pleased to be able to count on Ian’s experience, in addition to the whole Board’s, to continue Cayman Finance’s goal of protecting our financial services industry.  With his years of expertise and stature within the industry I believe he will be an extremely important asset to our Association.”

For further information on Cayman Finance, please visit www.caymanfinance.ky