(CMR) Wayne Panton was appointed and named earlier this week as the new chairman of the Cayman Islands Monetary Authority – the regulatory body for Cayman’s banking, insurance, securities brokerages, and investment companies, money services, and trusts sectors.
He is appointed from July 21, 2018, to July 20, 2021, and replaces Grant Stein, his former colleague at Walker's law firm. In addition to Mr. Panton, three new CIMA board members have been appointed; Theo Bullmore, Barry Kroeger, and Patricia Teufel. Their terms will also run through July 2021. Former Island Heritage Insurance Company chief executive Garth MacDonald has been named deputy chairman of the board. The terms of current board members Patricia Estwick and Judith Watler have been extended.
Panton served as Cayman’s Minister of Financial Services, Commerce and Environment during the Progressives government’s prior term in office between 2013-2017. He lost his re-election bid in Newlands district in May 2017.
He has extensive experience in both the financial services and legal professions in the Cayman Islands, becoming a partner at Walkers in 1997, eventually becoming a managing partner of the firm’s structured and asset finance practice before his retirement in 2011.