New Head of Banking Supervision Division of CIMA
After heading the Banking Supervision Division of the Cayman Islands Monetary Authority (CIMA) for more than 2 years, Malcolm Eden leaves it on January 31, 2008 in order to pursue other endeavours.
As a result of successive promotions within the Banking Supervision Division, including to the post of Deputy Head of Banking in 2003, Malcolm Eden was appointed as Head of Banking in September 2005.
A former Deputy Head of Banking and consultant to CIMA will become his successor. Currently, Reina Ebanks is part of Butterfield Bank’s Enterprise Risk Management Department.
Reina Ebanks will take over as the new Head of Banking on February 1, 2008. She was the Deputy Head of Banking from August 2001.
When announcing the changes, the CIMA Managing Director Cindy Scotland said that the Authority is sorry to see Malcolm go because his contribution to CIMA was significant. According to Scotland, “Not only has he had responsibility for the regulation of Cayman-licensed banks and non-bank financial institutions, which now number 357, but for assisting with the regulation of the financial industry as a whole and the implementation of a number of prudential rules and statements of guidance.†She also mentioned that Malcolm Eden laid the foundation for the upcoming phased implementation of the new Basel II capital adequacy framework .