A survey by the publication ‘The Banker’ has named the Cayman Islands as the best specialised financial centre in the
world for the fifth consecutive year.
The Banker’s annual survey and subsequent rankings are a litmus test of how well financial services jurisdictions around the world are faring, and the results are highly-regarded within the industry.
Gonzalo Jalles, chief executive of Cayman Finance, the organisation representing the financial services industry in the Cayman Islands, welcomed the survey in his blog.
“It is an incredible achievement brought about by the extremely high service levels our industry professionals manage to
achieve on a consistent basis, year after year,” he said.
In this year’s survey, Cayman increased its score to 55.09 — a gain of 5.18 points over its 2012 score — beating its closest rival Jersey, which had a score of 40 this year and second closest rival Guernsey, which scored 34.74 and dropped from last year’s second place to third.
“The Banker ranking really underscores what we in the Cayman Islands already know — that this jurisdiction leads all others when it comes to the provision of specialised, financial services for the global market place,” said Jalles.
“We are a sophisticated financial centre that dominates many of the specialised fields within which we operate. The consistency of our top positioning within The Banker ranking tables shows we are able to attain and retain that high-level
of service delivery year after year.”
The ranking of international financial centres is based on data from a range of sources, including financial markets indicators, economic potential and business environment factors. The ranking focuses on the level of international business and the value offered to international institutions seeking to expand their international operations.