Coles appointed new voice for finance sector
(CNS): The chair of the Human Rights Commission is about to add to his workload by taking on another challenge. Aside from championing the cause of the country’s vulnerable in the face of rights abuses by authorities, he will now also be the voice of the islands’ financial services sector. Former attorney general Richard Coles was officially appointed the new chairman of Cayman Finance at its annual general meeting last month. Aside from chairing the HRC, Coles is currently an independent director for hedge funds, structured finance vehicles and investment and financial sector companies.
Speaking about his new position, Coles said, “This organisation has developed an impressive history of working with Government to achieve its mission of promoting Cayman’s financial services industry. It is my intention to further build upon this relationship and to take the activities of Cayman Finance to a new level.”
Stepping into the role previously held by Anthony Travers, who took every opportunity presented to counter criticisms of the jurisdiction, Coles takes on the post ata time when there are persistent calls from onshore countries to block what are seen as loopholes that allow multinationals to use offshore centres.
Thanks were given at the meeting to outgoing chairman Anthony Travers, who members said had worked tirelessly to raise the profile of the Cayman Islands.
Dax Basdeo, Chief Officer of the Ministry of Finance, acknowledged the efforts of Cayman Finance and encouraging more collaboration and partnership between the public and private sectors going forward.
“The competitive environment in which we work makes it imperative that Cayman is unified in its approach to maintain its position in the marketplace. Cayman Finance has government support to achieve this objective,” Basdeo stated..
A new board was also elected and the directors are as follows: Peter Cockhill (Ogier), Nick Freeland (PWC), Gonzalo Jalles (HSBC), Mark Lewis (Walkers), Roy McTaggart (KPMG), Conor O’Dea (Butterfield), David Roberts (Cayman Management), Daniel Scott (Ernst & Young), Henry Smith (Maples and Calder), Ian Wight (Deloitte).
Special thanks were also offered to Cayman Finance founders, the late Eric Crutchley and Eduardo D’Angelo Silva.
Category: Business
We just have to look at this man’s CV to see that this is the end of Cayman Finance advocacy against the Onshore onslaught. Thought of today: If you cannot beat them, infiltrate them…
Should be a written rule against UK AGs and Governors from returning to Cayman. Understand the Governors have an unwritten 18 month required leave after duty.
The HRC has achieved nothing. It was never going to. That was obvious from the moment Nicholas Sykes was appointed to it.
Perhaps something of an overgloomy exaggeration, HRC, but you are certainly right to the extent that gays, lesbians and non christians do not have an advocate in Nicholas Sykes; that is patently obvious. But da wha’ we get for our kowtowing to the demand for ministers of the church (mostly an illiberal, Old Testament group) to be on every commission affecting our future.
What’s wrong with him running for office? As Chair of the Human Rights Commission, he knows that he could easily challenge any prohibition contained in domestic law which prevents him running for office in the courts even if he has to go to the ECHR.
So who were these people that Cole supposedly championed the rights of? Anyone care to enlighten me?
Nah, 13;36,I doubt if it’s worth enlightening you since you can’t even copy his name correctly.
No disrespect to Mr Coles ,like most Attorney Generals, he has always gone along with the will of the government. I would have thought that we need someone who demonstrated an ability for independent thinking in this role.
We should be so lucky as to have someone of this quality in the LA.
He was there already.
He is much more tactful and diplomatic than Travers and so may raise our profile in a way which does not confront and antagonise as much as Tony’s approach did. Nonetheless, thanks Tony for your efforts as the “bad cop” and all the best, Richard as the “good cop”.
Next thing he will run for office!
Not that there is anything wrong with that..