Cayman Finance Chairman Anthony Travers has stepped down from his post, according to a brief statement released Wednesday morning.
“I was asked to take on the role at a time
when our public relations were at a low ebb,” Mr. Travers said. “At the time, the UK and US
Governments were extremely hostile to the Cayman Islands and our financial
system and the Cayman Islands [was] on the OECD Grey List.
“We were threatened by
hostile US legislation and were subject to unjustified criticism from the UK and
the EU. I have been pleased to lead the organisation and feel we have done a
great deal over the last two years to counter our many critics and establish the
truth about the Cayman Islands and the value it brings to international
financial transactions and the global economy. Needless to say I wish Cayman
Finance and the new chairman well in its continuing endeavours.”
Cayman Finance is a non-governmental entity that represents the country’s financial services industry.