Leading member of finance community dies

| 15/02/2011

(CNS): Eric Crutchley, (71) who was one of the early driving forces behind the creation of the Cayman Islands Financial Services, passed away on Wednesday 9 February after a prolonged battle with cancer,. He started his involvement in the offshore business at the helm of the local operations of Barclays Bank and subsequently became CEO and President of Cayman National Corporation, where he was then chairman for ten years. His contributions also included service as president of the Cayman Islands Bankers Association (CIBA) and was a co-founder of CIFSA, which became Cayman Finance. Crutchley was a member of Rotary for over 33 years and involved in Special Olympics for over 20 years.

Chairman of the Pines Retirement Home for 7 years, a director of the Pensions Board, director of Republic Bank and Chairman of NCVO, he will be deeply missed by many. Crutchley received an MBE in 1992 for his contributions not only to the development of the Cayman Islands financial services industry, but also his extensive services to the community. A memorial service will be held in his Honor on Wednesday 16 February at 5:30pm at Elmslie Memorial Church.

Cayman Finance expressed both sadness and regret over Crutchley’s passing. “He was a tireless proponent of the financial-services industry, always ready to help, always ready with ideas, one of the early and critical leaders within the financial-services community,” said Nick Freeland, a director of Cayman Finance. “Savvy, articulate and tremendously credible, Eric had a sense of exactly what the industry needed at any given time, and was able to communicate that to an international audience. His influence and personality will be very much missed,” he said.
His 48 years as a overseas international banker with Barclays included time spent in New Hebrides/Vanuatu, Zambia, Sierra Leone and the Caribbean – including 18 months in Cayman Brac.
“Eric’s drive and vision helped build Cayman Finance into an organisation that efficiently and effectively promoted the local industry, among Cayman’s largest and most-important. Because of his efforts, both the organisation and the industry gained an internationally respected voice, advancing the high standards of our offshore jurisdiction”, Freeland added.

Director of the Cayman Island Monetary Authority Cindy Scotland said he was an avid supporter of financial services regulation.

“Many of us in the authority had the pleasure of interacting with Mr Crutchley in his capacity as a licensee and through his involvement in CIBA. In these roles he contributed to the development of various initiatives for the enhancement of the banking sector and broader financial industry. He was an avid supporter of sound financial services regulation and of CIMA. He will be missed,” Scotland said, adding condolences on behalf of the board, management and staff of the authority to Mr Crutchley’s family.

Crutchley leaves wife Cindy and two sons: Michael, a UK resident; and Jonathan, a New York City resident. 

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