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.