Standing up for Cayman

(CNS): Former Cayman Islands Monetary Authority Chairman Tim Ridley today (Wednesday) joins a group of eminent trust law and tax practitioners from the UK and Canada who will be speaking to a group of UK journalists, politicians and trust professionals at an event in Londonheld to highlight the importance of Cayman as a worldwide financial centre. Presented by the Cayman Islands branch of the Society of Trusts and Estate Practitioners (STEP), the event called ‘Cayman Uncovered Live and Uncut!’, will be moderated by well-known BBC presenter John Humphrys and will feature speakers familiar with Cayman’s financial services practices but not necessarily located in the Islands.

Maples and Calder partner Justin Appleyard, who is also a past STEP Cayman chairman and a member of STEP’s steering committee organising the event, anticipates a lively and candid no-holds-barred panel session with tough questioning by the audience of a panel which will include Ridley, plus journalists, following presentations by the trust law and tax professionals.

Appleyard says that the speakers are the top in their field and will be speaking on a range of topics. He anticipates Christopher McCall, QC, a leading trust barrister in the UK who has frequently appeared in Cayman Courts, will speak about the quality of the Cayman Courts and legal system in general, while solicitor Mark Bridges, whose clients include the Queen, will discuss the importance of Cayman’s stable legal system for clients domiciled in countries in relatively unstable parts of the world.

Frances Stephens, a partner at PwC will underline the importance of Cayman’s legal system for philanthropy and Richard Hay is slated to discuss Cayman’s role with regard to international tax and regulatory arbitrage.

The event has plenty of time for networking, which Appleyard believes will play a crucial part in the overall goal to convert those in the UK who are unconvinced of Cayman’s important role within the global economy.  

Ridley states: “STEP Cayman is to be congratulated on organising this timely event in London. It is an excellent opportunity to showcase Cayman’s private client strengths to London based professional advisors to global high net worth families. And, in this highly competitive era, it underscores how important this business is to Cayman and how vital it is to promote Cayman to key people in key locations.”