McTaggart sits in temp chair at Cayman Finance

| 16/02/2011

(CNS): Following the unexpected departure of Anthony Travers, Cayman Finance has appointed Roy McTaggart as interim chairman effective immediately, the association said on Wednesday. McTaggart is the Managing Partner at KPMG and has over 25 years experience in the financial industry here. Cayman Finance officials said that the interim appointment will provide the required strategic direction until a permanent chairman is found. An Executive Committee has also been established to assist McTaggart in his role as well as dealing with organizational issues.

Travers announced his departure from the chair of Cayman Finance after two years via a London public relations firm last week but he has not confirmed the reason for his sudden resignation. Cayman Finance said in a release that Travers was departing to spend “more time tending to his other business ventures and to spend time with his family.”

Travers was the first representative of the industry body to vigorously defend Cayman’s financial sector against critics and misrepresentation on a variety of forums, from letters to the US president to televised media interviews.

McTaggart will now work with the committee to continue the work started by Travers and to find a new figurehead for the association. The committee includes Dan Scott from Ernst & Young, Nick Freeland of Pricewaterhouse Coopers, Gonzalo Jalles of HSBC and Peter Cockhill from Ogier

"I am pleased to accept this role which will provide continuity of service whilst a permanent appointment is made,” he said. “We are working with the Financial Services Commission and with CIMA to help ensure that there is an articulate and sophisticated understanding of Cayman’s positive role in international finance."

McTaggart is a member of the Florida and American Institutes of Certified Public Accountants; is council member of the Cayman Islands Society of Professional Accountants; and is a member of the Financial Services Council, an advisory group to the Cayman Islands Government.

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Comments (3)

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  1. Anonymous says:

    This is excellent news and we may all feel comforted that there continues to be an active body defending Cayman’s integrity in the international and local press.  Roy is an excellent choice to helm this operation as he has the experience and the savvy to effectively deliver the messages that need to be delivered.

    Congratulations Roy and good luck to Cayman Finance.  Keep up the good work.

  2. Donald McLean says:

    I would like to congratulate Roy and applaud the selectors on an excellent choice to replace Tony Travers, evenif only temporarily. XXXX

  3. Anonymous says:

    An exceptionally good choice. And a son of the soil at that!!!!

    Congratulations, Roy. You will do us all proud.