CIMA chairman reappointed

Financial Secretary Kenneth Jefferson announced yesterday that Tim Ridley has been reappointed chairman of the Cayman Islands Monetary Authority.

Mr. Jefferson also announced the reappointment of Dr. Richard Rahn to the board, as well as three new appointments.

New board members include deputy chairman Joel Walton, and directors Carlisle McLaughlin and Adriannie Webb.

Mr. Walton is also the CEO of the Maritime Authority.

Mr. McLaughlin is a former partner of Ernst &: Young.

Ms Webb is an attorney with her own law practice.

The three new appointees filled the directorships of outgoing members Lindburgh Martin and Don Seymour and the vacancy created with the resignation of former CIMA chairman Mike Austin in July 2004.

Mr. Jefferson congratulated the new and reappointed members of the board. ‘I also wish to express government’s appreciation for the dedication of outgoing members Lindburgh Martin and Don Seymour during their tenure.’

A former senior partner of Maples and Calder, Mr. Ridley served as CIMA’s deputy chairman from July 2002 through July 2004.

After Mr. Austin retired in July 2004, Mr. Ridley assumed the position of chairman.

His three-year stint on the board expired last week, but, as with all CIMA directors, he was eligible for reappointment.

Mr. Ridley was happy to accept the reappointment.

‘I am honoured by the confidence once again placed in me by the Cayman Islands Government and look forward to working closely with my fellow directors, management and staff at CIMA as we face the many domestic and international challenges before us,’ he said.