Cayman Islands Government News Release has announced appointments to the Council of the Cayman Islands Stock Exchange (CSX) for the next two years.

Anthony Travers, a senior partner with Maples & Calder Cayman Islands and Maples and Calder, Asia, has been appointed Chairman of the Council. Mr Travers has over 20 years experience in the offshore financial industry in the Cayman Islands, having been appointed to Maples and Calder as an associate in 1975. He sits on the Cayman Islands Executive Economic Advisory Council and has prepared draft legislation for the Cayman Islands Government specifically the Fraudulent Dispositions Law, 1989, the Exempted Limited Partnership Law, 1991 and the Mutual Funds Law, 1993.

Mr Travers said:

"We have realistic expectations for the exchange and the Council's approach will be conservative and measured. Nevertheless, I am confident that the exchange's long term prospects are good and that it will further elevate the Cayman Island's offshore financial industry to an even more distinct level of international recognition."

David Carrad has been appointed Acting Chief Executive of the Stock Exchange. A graduate of Harvard Law School, Mr Carrad previously served as legal advisor to the Ministry of Commerce in Cambodia where he drafted new corporations, contract and product liability laws. Prior to his time in Cambodia Mr Carrad practiced with several law firms in New York City and served for 10 years in corporate legal department of W L Gore & Associates Inc.

The full list of appointees to the Council is as follows:

Anthony Travers (Maples & Calder) - Chairman
Deborah Drummond (Cayman Islands Government) - Vice Chairman
Nick Freeland (Price Waterhouse)
Bryan Bothwell (Ansbacher)
Jennifer Dilbert (Deutsche Morgan Grenfell)
Barry Smith (Truman Bodden & Co)
Toy McTaggart (Peat Marwick)
Peter Larder (CIBC)
William Roberts (WS Walker & Co)
Daniel Scott (Ernst & Young)
David Carrad (Atg CEO; ex officio)

The Cayman Islands Stock Exchange, launched on 2 January 1997, is specifically tailored to facilitate listings of equity and debt securities of offshore mutual funds and special purpose vehicles, two financial services products in which the jurisdiction specialises.

For further information please contact: Miranda Pugh at Cayman Islands Press Office.

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