Parchment to return to Cayman’s London office

(CNS): Updated – The Ministry of Finance has confirmed that Charles Parchment will be taking up the post of deputy representative in the Cayman Islands London office. Following a broadening of the economic objectives for the office, Parchment, who was formerly head of what was once the Cayman Islands Investment Bureau's London office from 2002 until 2007, will be involved in identifying potential investors in the UK. The London office, which is located in Arlington Street in London’s West End, is headed up by Mary Chandler-Allen, Cayman’s acting representative. "With his knowledge of London, finance and business, Mr Parchment is a strong addition to government’s team,” said  Premier McKeeva Bush.

The London Office’s expanded scope includes identifying potential targets for inward investment, and opportunities for Caymanian businesses to reach new markets, and greater lobbying and information-gathering in Brussels and the UK," the finance ministry stated in a release. 

Established in 1982, it promotes the islands’ interests in the UK and Europe by liaising with UK lawmakers, Commonwealth bodies, the UK Overseas Territories Association (UKOTA), the Overseas Countries and Territories Association of the EU (OCTA), and other international organisations. 

It collects important market intelligence that can inform the Cayman government’s policy, and disseminates information in response to enquiries from governments, private-sector companies and the general public within the UK and Europe.  Secondary services include consular assistance to Caymanians, especially during crises.

Chandler-Allen, the current deputy representative, is retiring at the end of July after 28 years service in the London Office. For the past 2½ years she has been the acting representative. Recruitment is now underway for the representative post.

“Mrs Chandler-Allen has done an exemplary job as acting representative,” the premier acknowledged. “She accepted a demanding role and handled these demands while continuing to fulfill her responsibilities as deputy. I thank her for her service and dedication to the Cayman Islands.”

Since leaving CIIB in 2007 Parchment has been an independent consultant, advising private clients on a range of business and financial procedures. He also has assisted the Cayman Islands Government on a project basis.

He holds a degree in international relations and an MBA with a focus in financial management from Webster University, London.