The Caymans Islands Marketing Professional Services Association recently held its first official training events for 2013.
The first session provided marketers with an overview of the financial services industry and it covered key business segments in the Cayman Islands, including funds, captives and banking.
Training facilitator Paul Byles, director and CEO First Regents Bank & Trust, said the technical introduction was designed to give participants an understanding of how private banking, captive insurance, hedge funds and special purpose financing works and why clients use these various services “at an introductory level minus most of the jargon”.
The overview of the financial services course was a compacted version of the offshore financial services six-month diploma that Mr. Byles created at the University College of the Cayman Islands and delivered for a couple of years and the CIMPA financial services seminar represented a Level 1 introduction.
“There is a second level with advanced content that will be offered soon,” Mr. Byles said.
A second association seminar held the same day addressed global and local issues affecting the financial services sector. These included the approach to emerging markets, a realisation that offshore providers who were once reluctant to deal with certain markets due to a range of cultural language and other barriers, have been investing more resources into penetrating these markets.
The importance of the domestic policy framework such as a stable fiscal position, the political arena and other issues were also addressed in this second module.
“I think it’s important to understand the financial services industry not solely in terms of the nature of offshore services, but also in relation to the global and domestic issues affecting the industry now and potentially in the future,” Mr. Byles said. “With the CIMPA seminar, I believe that balance was achieved and it was a privilege for me to assist with their first training event.”
Both sessions were attended by services marketing professionals from the accounting, legal and investment services segments of the industry. Attendee Richard Singleton, marketing manager at Appleby, said, “It was a timely reminder that we all have a part to play in ensuring Cayman remains the preeminent offshore jurisdiction for our clients. I found the seminar to be a great refresher and look forward to the follow-up Paul mentioned he may present in the future.”
Lesley Ann-Thompson, a volunteer training coordinator for the marketing association, said the event was only the beginning of what CIMPA hopes will become a robust annual calendar of training opportunities for local marketers.
“Ongoing development that is accessible and affordable is critical to ensuring that we remain at the top of our game, and maintain high standards for the marketing profession overall,” she said.
The next CIMPA training event, scheduled for 4 to 6pm on Thursday, 21 February, will cover market research. In addition to research techniques adapted to a small community, the session will offer tips for obtaining reliable market information without breaking the budget, guidelines for working with your research agency and how to convert research results into effective marketing and communications campaigns.
The session will be held at the Brassiere Conference Centre in Cricket Square.
Other planned seminars include public relations tips and hints on 14 March and the Data Protection Law on 26 April.
For information on upcoming association events and how to become a member, e-mail [email protected]