Dan Scott

| 19/02/2025

Layman Daniel Scott, Cayman Brac East (candidate)
Leader of the Cayman Islands National Party

As a student, Scott interned with Ernst & Young (EY) in the Cayman Islands and joined full-time as a staff accountant in 1983, a job that included filing and taking out the mail. He worked his way up to become a partner in 1993, managing partner in 2003, and regional managing partner in 2005, when EY’s Cayman Islands, Bermuda and Bahamas firms integrated into a single practice. The British Virgin Islands office was added five years later. In 2015, he became market segment leader and retired at the end of June 2023.

During his career at EY, Scott gained considerable asset management experience, with a focus on audit and advisory services, including structuring and servicing complex global and offshore funds. He was also involved in international promotion and participated in various committees that helped advise the government on the industry.

In the 1990’s, while George McCarthy was financial secretary, Scott was instrumental in persuading him that the CIG should implement a regulatory regime for the funds business, even though most of the private sector was against this.

“He took the view that [regulating funds] was something we really needed to be doing,” McCarthy is quoted as saying. “Daniel Scott thought it would be very good for the Cayman Islands and he had strong beliefs on the subject.”

He was the first chairman of the Cayman Islands Judicial and Legal Services Commission from 1 August 2010 to 31 July 2015. In June 2015, Scott received an OBE for service to the financial services industry and the judiciary in the Cayman Islands.

Scott’s father was the first principal of the Cayman Brac High School. In April 2011, while Rolston Anglin was education minister, the school was renamed the Layman E. Scott Sr High School in his honour.

In September 2017, he was appointed as chairperson of the new Cayman Islands Education Council, becoming the first private sector chairperson of an education board.

This followed an amendment to the law that enabled the education minister (Juliana O’Connor-Connolly at the time) to delegate education-related matters to the council, which was given the power to make decisions on matters handed to it by the minister, covering issues such as regulating teachers and registering schools. However, he was not reappointed in 2021.

Other board positions include:

  • Member of the Ernst & Young Global Hedge Fund Steering Committee, which provides strategic direction to the global hedge fund practice
  • Past Director of Cayman Finance 
  • Past Member of Ernst & Young Americas Advisory Council 
  • Past Member of the Cayman Islands National Advisory Council 
  • Past Board Member of the Cayman Islands Stock Exchange 
  • Past President of the Cayman Islands Society of Professional Accountants (CISPA) 
  • Past Member of the Cayman Islands National Security Council 

Education and qualifications

Scott attended Cayman Islands Government schools. After receiving one of the first scholarships offered by Cayman National Bank, he attended the University of Tampa, where he achieved a degree in accounting. He then completed his Certified Public Accountant course and is currently licensed in both Florida and New York states.

Sources:
Cayman Islands Institute of Professional Accountants
Judicial and Legal Services Commission
Cayman Compass
Cayman Islands Government
http://caymancoins.com

Category:

Comments are closed.

«
»