Departing Monetary Authority Head Bestows Blessing On Regulator

by Amanda Banks, Tax-News.com, London

21 January 2002

The outgoing head of the Cayman Islands Monetary Authority (CIMA), John Bourbon, resigned last week, citing 'personal reasons'. However, he expressed satisfaction at the progress made thus far by the offshore jurisdiction in the fight against money laundering, and stated that he was confident that the good work would continue under his replacement, Jennifer Dilbert.

'I am happy to have been able to contribute to the development of the Authority during a period of intense international scrutiny, and I believe the Authority is well placed to deliver a first-class regulatory service as a fully independent regulator,' he said on Wednesday. It is believed that Mr Bourbon intends to return to the UK, where his family is based.

Jennifer Dilbert, who until last week served as the Cayman Islands Government Representative in the UK, will assume the position until a permanent successor is found. She is eminently qualified to fill the post, having worked with the island's financial sector for around 15 years. Mrs Dilbert was employed as the Inspector of Financial Services between 1991 and 1995, and since 2000, has been a member of the CIMA board.

Speaking to the Cayman media last week, she said that she was looking forward to moving the Monetary Authority towards full independence, and wished her predecessor luck for the future. 'John's efforts will certainly be remembered and we wish him all the best in his future endeavours,' she commented.

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