The Alternative Investment Management Association (AIMA) has launched a comprehensive Cayman Islands Chapter.
The Alternative Investment Management Association (AIMA) has launched a comprehensive Cayman Islands Chapter.

The new Chapter has been described by AIMA as 'unique', having been formed both at the request of the industry and with the strong backing of the Cayman Island regulator, the Cayman Islands Monetary Authority and the Government's Portfolio of Finance & Economics.

Gary Linford, Head of Investment & Securities Division for the Cayman Islands Monetary Authority said: 'With the wealth of knowledge that sits in the Cayman Islands, this new AIMA Chapter will provide the ideal platform for the Cayman hedge fund industry to make a more public contribution to the global hedge fund debate'.

The Cayman Islands become AIMA's seventh Chapter worldwide - following Australia, Canada, Hong Kong, Japan, Singapore and South Africa. AIMA now has over 1000 corporate members in 46 countries. Chapters of AIMA are strategically positioned regional operations created by AIMA members. They are located in countries where there is a desire to apply the global objectives and initiatives of AIMA in a manner specifically tailored to the local market.

The Chairman and Executive that will lead the new AIMA Cayman Chapter for the next two years have also been announced:

• Chairman: Andy Stepaniuk, KPMG
• Deputy Chairman: Mark Lewis, Walkers
• Legal Counsel: Henry Harford, Maples and Calder
• Regulation & Tax Education & Research: Valia Theodoraki, CISX
• Media & Communications: Alun Davies, GLG.

Christopher Fawcett, Chairman of AIMA said: 'This is a notable and natural milestone, and a signal of AIMA's growing influence worldwide. Cayman is an integral part of the hedge fund industry, with the majority of hedge funds globally domiciled there'.