New Chief Officer
Deputy Governor, the Hon. Donovan Ebanks, has appointed Dr. Dax Basdeo as Chief Officer, Financial Services, in the Ministry of Finance, Tourism and Development. He took up his position on the 1st October 2010.
This is a new post created as a result of the importance the Government places on the financial industry and changes to ministry responsibilities resulting from the creation of a Minister of Finance under the new constitution.
Twenty three persons applied for the post, as part of an open recruitment process and four candidates were interviewed by a selection panel consisting of Mr. Donovan Ebanks, Deputy Governor, Chairman, Mr. Peter Gough, Strategic Advisor and Mr. Nick Freeland from PricewaterhouseCoopers, Paul Byles and Kenneth Jefferson, Financial Secretary.
Mr. Ebanks said, "It is particularly pleasing to see a young Caymanian rising through the ranks to achieve one of the most senior positions in Government."
Dr. Basdeo holds a Bachelor of Science degree in finance and statistics from the Wharton School at the University of Pennsylvania, an MBA from the University of Manchester and a PhD in strategic management from the University of Maryland. A published author, Dr. Basdeo has also conducted research involving U.S. businesses, with research teams at various academic institutions.
Dr. Basdeo began his career in the civil service in 1995 as an economist. In 2004, he assumed responsibility for the Cayman Islands Investment Bureau (now the Department of Commerce & Investment) and devised policies and programmes supporting inward investment and economic diversification, small business development and provision of advisory services for international investors.
Dr. Basdeo currently has responsibility for a broad range of departments and authorities within the Ministry of Finance, covering such key areas as financial services policy, economic development and international relations. Specific functions under Dr Basdeo's leadership include: the Department of Commerce & Investment; the Financial Services Secretariat; the Cayman Islands London Office; the General Registry, and; the Tax Information Authority.
On taking up his appointment Dr. Basdeo said, "I look forward to the challenges of this new position and the opportunity to continue to develop policies that will enhance the sustainable economic development of these islands."