Local banker says integrity crucial to offshore sector

| 07/09/2011

(CNS): The Managing Director of RBS Coutts (Cayman) Ltd and fellow of the CISI has said that integrity in business here in the Cayman Islands is even more important than in the on-shore world as he lent his support to a special seminar at the university next week. “The world market turmoil over the last three years has emphasised the importance of trust and integrity in financial services,” Foster said. “Ultimately, the financial services industry is dealing with other people’s money and those other people are customers, clients and investors who need to know that the hierarchy of their bank, broker or investment house has the interest of the customer, client or investor in mind and not its own.”

He said that the stakes were higher in jurisdictions such as the Cayman Islands “Integrity in the offshore world is as important if not more important than other business communities as we, together with other international financial centres seem to be held to even higher standards than any of our onshore counterparts. It is important that every stakeholder operates to the highest integrity and is beyond reproach.”

Foster was speaking ahead of a special open seminar to be held at the University of the Cayman Islands next week by the Chartered Institute for Securities & Investment (CISI).

“Integrity At Work” is an interactive workshop designed for professionals and students focusing on real life dilemmas set in a financial services environment.

“With real time voting devices we can involve participants in decision making options while at the same time learning about the core values of honesty, openness and fairness in an effort to address the loss of trust in the present global financial market," said Simon Culhane, Chartered FCSI and CISI Chief Executive.

UCCI President Roy Bodden described the free workshop as a groundbreaking event especially during the time of economic austerity and encouraged professionals and students to join in and take advantage of the learning opportunity. “I hope that this seminar will motivate and incentivise students to move into the financial services industry at the most professional levels and to make them realise that many of the qualifications necessary for doing so are available at UCCI.”

Integrity at Work will be conducted in two sessions: 1) For Professionals – Thursday, 15 September at 5:00pm, and 2) For Students – Friday, 16 September at 11:00am. Slots are limited and interested parties are urged to RSVP through events@ucci.edu.ky.


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  1. Firefly says:

    How about a course for politicians and in particulrly our beloved leader who strayed at First Cayman Bank.