Mosquitoes and Cayman’s economy

I refer to the letter in the July 7 Compass, “Seamen’s place in Cayman history.”

Most of the writer’s points are correct but in my opinion one name is glaringly omitted – Dr. Marco Giglioli.

Prior to Dr. Giglioli’s arrival in 1965, the mosquito infestation in Cayman was unbelievable and, had it not been for his expert efforts in dramatically reducing that problem, it is unlikely that the meteoric development of Cayman would have happened as and when it did.

I would also point out that, as manager of the Royal Bank of Canada’s Cayman branch in 1964, I can assure the writer that the rush of banks moving to Cayman was not to handle the seamen’s remittances nor to take care of the financial needs of the dozen or so tourist facilities, as Barclays Bank DCO were more than capable of handling that.

In fact, the international banks were looking for an alternative base of operation for the financial industry in preparation of the mass exodus of business that was to come from the Bahamas after that country became independent. With the enacting of the Companies Law, no corporate taxation and a hard-working, law-abiding Christian population, Cayman was a natural choice (minus the mosquitoes, thanks to Dr. Giglioli’s efforts!)

The rest, as they say, is history.