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Cayman Funds 2016

“The jurisdiction does not operate in a vacuum and obviously we are part of the global economy.” Susan Lock 22 CAYMAN FUNDS | 2016 jurisdiction needs to be cognisant of the economic times, continue to work on its PR, showing the world what we have achieved as a jurisdiction, and remain focused on our public/private sector cooperation, global cooperation and professionalism at all times. Linford: This discussion has reminded me of the depth and breadth of the skillset we have in Cayman. It will stand us in good stead as we adapt to some of the global headwinds facing the alternative industry. Bahadur: It is good to see you getting the message out there and we have done a great job as an industry. Government acts at a more technical level but we need support from industry and even from investors as ambassadors to help get the message out. I would also note that we have a lot on our plates coming up with several global reviews, and we ask for your continued support. Milgate: It is a global industry but as long as we take good care of the product and the jurisdiction then we will continue to thrive. Panton: Sitting around and talking with industry is something I miss and I wish we could do it more often. The recognition of the importance of collaboration is great. There are headwinds but there are always headwinds. We will assess what is coming and how we respond to that. It is very important government listens and understands the perspectives of all stakeholders in the industry and then takes a fair and balanced approach. We are very intent on maintaining a leading position as a jurisdiction and we want to do everything we can to achieve that and ensure the industry thrives. Short: I’d like to thank you again Minister Panton for being here today and for all you do in support of the fi nancial services industry. As mentioned previously, there are a number of headwinds which Cayman is facing, however, with all of the discussion today, it’s clear to me that Cayman is well positioned to move from strength to strength. Thank you all for being here today. between government and the private sector, especially in the big areas affecting all industry. Some new regulations will be gamechangers in the scope of what is going on but we must approach international engagement in a positive way. Ruddick: The fact that we are sitting here working together says a lot. We are the domicile of choice and it is ours to lose. We must continue this consultative approach if we intend to remain ahead of the pack. Kassam: On the administration side, Cayman continues to be a place where we can attract and retain real talent, given all that Cayman has to offer. We see very little turnover of staff. We are discouraged to see some of our competitors moving operations away from Cayman. Given the talent and experience of our people we believe we have the expertise and offering to continue to grow here. Lock: We have all been singing from the same hymn sheet. We have all mentioned cooperation within the jurisdiction but we should also remember that the jurisdiction does not operate in a vacuum and obviously we are part of the global economy. We all recognise there will be a few challenging few years ahead. Challenging economic times and discussions on taxation mean that offshore jurisdictions will continue to come under intense political scrutiny and may often be scapegoated for political ends by onshore fi nancial centres. The “Given the talent and experience of our people we believe we have the expertise and offering to continue to grow here.” Leo Kassam


Cayman Funds 2016
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