New CIMA board member appointed

Garth MacDonald
Garth MacDonald

Cayman’s financial regulatory agency has appointed retired insurance company executive Garth MacDonald to its board of directors.

The Cayman Islands Monetary Authority Board appointment, made in late March, was confirmed by the government this week.

Mr. MacDonald will replace Greenlight Re’s Brian Murphy, who was appointed to the board but later indicated he was not able to serve due to other commitments.

Financial Services Minister Wayne Panton, who has oversight responsibility for the operations of the Cayman Islands Monetary Authority, had said he was searching for someone with insurance industry experience to serve on the CIMA board of directors.

Mr. MacDonald served as chief executive of Island Heritage Insurance from 2007 to 2013, when he retired.

Before moving to the Cayman Islands in 1994, Mr. MacDonald worked with KPMG and an international insurance group. He holds a bachelor’s degree in finance and accounting and is a qualified chartered accountant.

If you value our service, if you have turned to us in the past few days or weeks for verified, factual updates, if you have watched our live streaming of press conferences or sent an article to a friend... please consider a donation. Quality local journalism was at risk before the coronavirus crisis. It is now deeply threatened. Even a small amount can go a long way to sustaining our mission of informing the public. We need our readers’ financial support now more than ever.

Donate