Sep 022013

The Cayman National Group announced the appointment of Ken Watterson as a non-executive director to the boards of both Cayman National Bank and Trust Company (Isle of Man) Limited and Cayman National Fund Services (Isle of Man) Limited.

non-executive director

Ian Bancroft and Ken Watterson

Ken Watterson has more than 27 years experience working in the investment, banking, fiduciary, insurance, IFA and funds sectors with regulated financial companies based in the Isle of Man, UK, Jersey and Guernsey, Switzerland, the Caribbean and the Middle East.

With a background in NHS and research medical science, Ken joined Peat Marwick (later to become KPMG) in 1986.

In 1990, he moved from audit and accountancy to international private banking joining Nat West International Trust Corporation which became part of the Coutts Group.

He gained valuable experience in Coutts’ trust, banking and investment businesses and was given the task of establishing the Isle of Man office’s offshore risk and compliance function.

Following a year’s sabbatical in which he studied the island’s basking sharks and whales and travelled extensively to lecture on the subject in Japan, Australia and South Africa, he joined Close Brothers Private Bank in 2000 as director of Risk and Compliance.

Ken was awarded a Winston Churchill Fellowship for his work with basking sharks and co-authored a book for BBC Television.

In 2006, Ken moved to Tufton Oceanic, one of the island’s few hedge fund managers, as their chief operating officer and a director where he gained further valuable experience working with the UK FSA and the Dubai Financial Services Authority.

One of Ken’s particular areas of interest is corporate governance an area in which he specialised when studying for his Masters degree in Financial Regulation and compliance management.

He holds the Institute of Directors, Chartered Director qualification and has undertaken a number of corporate governance assignments in his current role as a compliance and corporate governance consultant.

Ken is also a Chartered Fellow of the Chartered Institute for Securities and Investment and a member of the Chartered Insurance Institute.

Ian Bancroft, managing director of Cayman National’s Isle of Man operations said: ‘I am delighted to welcome Ken to the boards of our Isle of Man businesses.

‘He has a significant wealth of experience in the international corporate and private sectors with a strong focus on risk and compliance.

‘This strength will prove invaluable as we continue to grow our business into new markets and channels of business.

‘We have exciting plans for further development. I anticipate that Ken will make an enormous contribution to our future corporate growth’.

Ken Watterson said: ‘I am looking forward to working with the Cayman National team. They offer a comprehensive wealth management proposition and I am keen to support their development objectives as well as ensuring there is robust oversight of their regulatory obligations.’

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