CIMA appoints new chairman
On July 10, 2008, it was announced that Mr Carlyle McLaughlin Jr. has been appointed as the Chairman of the Board of Directors of the Cayman Islands Monetary Authority (CIMA) by the Governor in Cabinet. The appointment will be effective from July 27, 2008.
McLaughlin was a CIMA director since 2005, and now he will replace Timothy Ridley and become its Chairman. Ridley’s term of office expires on July 26, 2008.
Cabinet has also appointed new directors to the CIMA Board. They are two long-standing financial industry professionals Harry Chisholm and Richard Harris.
When announcing the changes, Financial Secretary Kenneth Jefferson said that the outstanding contributions made by Ridley to the Authority since his appointment to the Board in 2002 and during serving as the Chairman from 2004 have been noted by Cabinet. The Financial Secretary said :”The Cayman Islands Government and the Portfolio of Finance and Economics appreciated the high standard of professionalism, acuity and vigour with which Mr. Ridley discharged his duties in this very demanding role”.