CIMA promotes ICCI alumnus to key post

(CNS): James Whittaker, former Chief Analyst in CIMA’s Investments and Securities Division has been promoted to the post of Deputy Head of the Division. Whittaker joined CIMA in January 2009 but has worked in the financial industry for over 17 years in banking operations, securities and structured finance. He has also worked professionally in Bermuda, Miami and New York. Born in Grand Cayman, Whittaker is a graduate of the International College of the Cayman Islands, with degrees in International Finance, Banking and Accounting.

CIMA said that Whittaker is intimately familiar with the growth and diversification of the Cayman Islands financial services industry. In his new post, he will be joining a leadership team comprised of Head of Investments and Securities, Yolanda McCoy, and Deputy Head, Heather Smith. The division is tasked with regulating fund administrators and certain categories of funds and securities investment business practitioners operating in and from the Cayman Islands, as well as ongoing supervision of these regulated entities.

CIMA explained that this is done through an integrated risk-based supervisory approach of off-site and on-site supervision to ensure compliance with the regulatory laws and regulations, and with the rules, policies, and statements of guidance issued by CIMA. Whittaker will be assisting with managing the Investments and Securities Division’s staff of 36, developing and implementing new policies for the division, as well as liaising with foreign regulatory supervisors and local licensees. His responsibilities also include assisting with the management of the division’s off-site and on-site monitoring programmes.

“I am eager to face the new challenges that come with my promotion, commenting on the appointment,” Whittaker said. “CIMA operates in a dynamic and fast-paced environment, especially now with the global economic downturn and increased international regulatory reform. My experiences thus far, give me great confidence that the division, and CIMA, will continue to meet their objectives. I intend to approach my new role with a steady hand and proactive management.”

Managing Director of CIMA Cindy Scotland said that Whittaker was well versed in the financial services industry and his appointment was the result of his outstanding performance in managing the complexity of responsibilities of his previous position.

“I am pleased that he has welcomed the opportunity to take on more responsibilities at a time when sound leadership is needed and leadership positions are becoming more demanding. It gives me great pleasure to welcome yet another Caymanian to our management team,” she added.