Ousted CIMA chair to deliver key note at old college

| 31/08/2010

(CNS): The man, who learned he would no longer be chairing government’s regulatory body through the press, will be making a rare public appearance when he delivers a keynote speech for his old college later this month. Business and community leader, Carlyle McLaughlin, who retired from public life after he was ousted from the chairmanship of CIMA by the UDP government, credits his bachelors degree in business from the International College of the Cayman Islands as his stepping stone to a successful financial career. The speech will be delivered at a banquet celebrating the college’s 40th anniversary on 24 September.

 
 A retired senior partner from Ernst & Young McLaughlin replaced Tim Ridley as CIMA Chair in 2008 only to be removed by the UDP in favour of George McCarthy last year. The premier revealed his intention to put George McCarthy, the former Chief Secretary in the role, in the Legislative Assembly but had not told McLaughlin. The news was delivered to the former Chair by Tad Stoner a journalist at the time with Cayman Net News who called to ask him for comment.
 
McLaughlin earned his ICCI degree in 1976 and recalls how he took part in a movie to help promote the college. “My most vivid recollection was being a part of a movie that was filmed to promote the college way back when,” said McLaughlin, referring to a film that featured life in the Cayman Islands in 1974, including collecting college students in a van around the island, the British governor and the emerging banking industry.
 
While he graduated from high school as the valedictorian, his family did not have the financial means to send him overseas to go to a university and government and private scholarships were not readily available to Caymanians students in those days.
 
McLaughlin got his first break in earning a bachelors degree when the International College granted him a scholarship where he studied business and accounting alongside Caymanian and international students.
 
“I used to hitchhike to go to school because I didn’t have a car. Then I would have to walk to the street corner (about three-fourths of a mile) where Countryside Village is now to catch a ride into town to go back to work,” said Mr McLaughlin.
 
Later, the predecessor of Ernst & Young would sponsor McLaughlin to go to Florida to earn his masters in business administration and set him on a course to pass the CPA exam, eventually becoming a senior partner at his firm.
 
As the keynote speaker, McLaughlin will talk about the plans to break ground on the new business building as well as the history of the International College. He will also speak about the impact of being the first institution in the country to offer a college education that is internationally accredited, particularly for Caymanians and residents who juggle work and families while attending school.
 
The president of the International College, John Cummings, PhD, said Carlyle McLaughlin was the obvious choice as the keynote speaker because of his successful career and numerous roles in community service.
"We are extremely lucky to have such a talented individual as Carlyle McLaughlin to be our keynote speaker for the 40th anniversary banquet,” said Dr Cummings.
 
McLaughlin has served on numerous boards and associations including the International College, Cayman Islands Society of Professional Accountants, the Immigration Board, the National Drug Council, the National Pensions Board, Cayman Islands National Insurance Company and the Cayman Islands Turtle Farm.
 
After his removal from CIMA McLaughlin said he wouldno longer serve on government bodies and retired from public life. He made the announcement in a long statement issued to the press in July last year when following two weeks of press coverage he had still not received official notice of his removal from government. Expressing his disappointment over what he described as “such blatant disrespect” after so many years of service to his country, McLaughlin pointed out that this demonstrated that the chair of CIMA was a political appointment despite the fact the board had oversight of the country’s most important regulatory body.

“No matter what anyone says, it can no longer be said that there is an expectation that CIMA should act as much as possible as an independent body from central Government and that its appointments should not be seen as political,” McLaughlin said

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