Transparency and good governance are at the heart of the Chamber Pension Plan’s mission to provide employees in the Cayman Islands with the highest quality pension offering available. Recent appointees to the Chamber’s board of trustees including a new chair, coupled with the assignment of a highly qualified and experienced new general manager and COO, have strengthened these qualities, the Chamber Pension Plan writes.
Three new appointees have been recently added to the Chamber Pension Plan’s board of trustees, bringing a collective wealth of knowledge and experience that is broadening and widening the knowledge pool within the Plan and thereby providing a strong platform from which the Plan can grow.
Wealth of experience
Chartered accountant Geoff Ruddick, who works with fund governance and fiduciary services firm International Management Services Ltd, serves as an independent director of funds and has extensive knowledge of the commercial side of fund management as well as with compliance, corporate recovery, and audit. Fellow chartered accountant and CPA Gregory Bennett is a director of The Harbour Trust Co Ltd and another new trustee to the Chamber’s board. His firm also provides fiduciary services and independent directorships and he has also enjoyed a successful career in Cayman’s financial services industry. Rory Mohammed is another extensively qualified and experienced new trustee, with 11 years’ experience in internal accounts and 12 years in property management. Mohammed is the general manager of Lacovia Condominiums, a Chamber Council Member and past Cayman Islands Tourism Association board director for Condos and Villas, thereby bringing an added dimension of knowledge to the table.
The Chamber Pension Plan’s General Manager Bill Fleury, says he is delighted to have such skilled professionals join the board: “We are extremely pleased to welcome Geoff, Rory and Greg on to our board of trustees. Each of these new trustees brings with him vast experience and in-depth knowledge, which can only serve to enhance the independence and quality of service that we are able to offer to our members. Such high calibre professionals will undoubtedly prove to be an important addition to our existing Board and we are all privileged to have them with us.”
Qualified experts at the helm
Fleury himself is a relatively new recruit to the Chamber Pension Plan, having joined earlier this year. The board of trustees has also welcomed Fleury’s appointment as a further boost to the organisation.
The board of trustees of the Chamber Pension Plan said Fleury’s extensive international and domestic experience, combined with the Chamber’s strong financial performance in 2012, would allow the Plan to continue to focus its efforts on providing greater returns and value for its members.
“With over 15 years’ experience in hedge and mutual fund administration, and with proven leadership ability, Bill’s appointment highlights the Plan’s commitment to securing the most experienced and talented executives for its members,” they add.
Fleury says he is enjoying his new role and is pleased to have joined Cayman’s oldest and one of the largest pension plans in the Cayman Islands.
Lynn Roffey, recently elected as the Chamber Pension Plan’s new chair of the board of trustees, rounds off the new changes for the board.
Roffey is the financial controller for Androgroup Ltd and its affiliated companies, and has an in-depth understanding of local business issues, combined with significant international business experience. She has been a trustee on the Plan’s board since 2009.
“Being elected chair of the Plan’s board of trustees is a great honour,” she confirms. “We have some exciting plans for the coming year and I am proud to assist in this growth and development of the Plan.”
Trustee code of conduct
One further new move has again underscored how the Chamber Pension Plan places transparency and good governance at the very top of its priorities, with its intention to adopt the CFA Institute Code of Conduct.
Fleury explains: “The Board of Trustees have agreed to adopt a trustee code of conduct, which means we will be asserting that we are following rigorous ethical standards in the oversight of the Chamber Pension Plan. These standards are developed independently by the CFA Institute.”
Fleury says that such a move will serve to set the benchmark extremely high when it comes to the management of pension plan funds, as the CFA Institute is internationally recognised as promoting and endorsing the highest ethical standards possible. The adoption of the code of conduct highlights the Chamber Pension Plan’s quest to be a leader among its peers in the Cayman Islands, he confirms.